Catching up on counterfeit news
- Published: Mar 11, 2016, 8 AM
Counterfeit Proof 2015-W American Eagle silver piece, above left, and genuine issue of the same date, above right, are superimposed over an enlarged image of a segment of the fake coin's reverse.
1. Counterfeit craze
In recent weeks, Coin World has reported on numerous counterfeit-related news items involving U.S. coins, bullion and paper money.
So readers can keep the stories all straight, here's a rundown of our recent tales of the "funny money":
- $4.6 million worth of counterfeit U.S. $100 bills and 32 bundles of counterfeit Vietnamese Dong were seized after being found in the luggage of two passengers traveling to Detroit from Seoul on Feb. 12. Nicknamed "hell money," the fake notes are ceremonial and often burnt as an a offering to the deceased in what is a common ritual in Asian cultures.
- Chinese manufacturers are believed to be behind the counterfeiting of genuine bullion products, including those of SilverTowne, APMEX and others.
- Fisher Precious Metals in Deerfield Beach, Fla., reported counterfeit versions of PAMP Swiss gold bullion bars. The packaging on these also was faked.
- Fake Proof 2015-W American Eagle silver dollars popped up at a recent show in Florida. Reports suggest that 2013- and 2014-dated issues of this same counterfeit are also floating around the market.
In addition to (and likely inspired by) the news items, Senior Editor Paul Gilkes addressed the issue of counterfeits in his latest Mint State blog post. He ponders the question of whether or not counterfeiting can be totally vanquished from the hobby.
2. Newman goes new and improved
The Eric P. Newman Numismatic Education Society is allowing much more access to its research, as collectors, researchers and virtually anyone else can now check it out.
“I have long wanted to make the literature and images of numismatics, particularly American numismatics, available to everyone on a free and forever basis,” said Newman, the 104-year-old numismatic legend.
3. Newest Marine Life release
Coming off the heels a Lemon Shark coin release, Pobjoy Mint has released a Marine Life £2 coin depicting the minke whale. The coins continue a recent series showcasing the indigenous wildlife of South Georgia and the South Sandwich Islands, where the coins are being issued.
4. Connect with Coin World:
5. Precious metals pricing
Kitco.com lists the following prices per ounce Friday at 12:42 p.m. ET:
- Gold: $1,258.30
- Silver: $15.590
6. Hot topics
Check out three interesting stories from the last couple of days:
- At $35,250, this 1880 Indian Head gold $3 coin is considered 'a steal': Market Analysis
- Numismatic junkie? Put your knowledge to the test with our Know Your U.S. Coins Quiz: Coin World Buzz
- Tale of two Holey dollars sold at auction in February
7. Something Social
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