Counterfeit US bullion-coin designs improving

[Nutmeg Coin]

Counterfeit American Eagle gold bullion coins improving in design quality

 

An Ohio coin dealer reports receiving eight counterfeit American Eagle 1-ounce gold bullion coins of different dates from among 120 coins submitted by a New York dealer.

 

Donald Herres from Dollartowne in Bellbrook, Ohio, said the shipment containing the counterfeit coins was received May 22 from a longtime customer who did not know the eight coins were fakes until notified by Herres.

 

Herres said the eight counterfeits — one dated 1988, one 2001 and six 2009 — were determined to be fakes when he used an electronic precious metals verifier. Herres said he has been using the detection device since 2014 when he received a counterfeit 2003 American Eagle gold piece that had been submitted in a genuine 14-karat gold jewelry bezel.

 

Herres said while the eight counterfeits are more coppery in color than genuine American Eagle 1-ounce gold coins, the quality of the counterfeits is superior to others he has handled or otherwise seen. The recent eight counterfeits all weigh the proper weight of 33.931 grams, Herres said.

 

Herres said he does not know the metallic composition of the fakes, since the dealer who submitted them asked for their return.

 

Herres said packaging for the shipment of 120 coins that included the fakes comprised five U.S. Mint tubes of 20 coins each and a non-Mint tube of 20 coins. The eight counterfeits were housed in the non-Mint tube, Herre said.

 

Genuine American Eagle 1-ounce gold bullion coins are currently retailing for between $1,250 and $1,300 each.

http://www.coinworld.com/news/counterfeit-american-eagle-gold-bullion-coins-better-quality.html

[RWB]

These fakes are gold plated tungsten. See the Alibaba thread on PCGS for a link to the Chinese seller.

[delta]

Those counterfeits are so excellent some are probably already in TPG slabs, and any recent purchases of gold eagles are worrisome unless you got them directly from the US Mint.

[Nutmeg Coin]

Joe at Gardner coin a while back told me he had never seen a counterfeit US eagle.

[coinman_23885]

These fakes are gold plated tungsten. See the Alibaba thread on PCGS for a link to the Chinese seller.

 

I find it excessively ironic that the Alibaba group has offices in the United States, accepts money from American investors, and files SEC filings every year, and it has somehow escaped prosecution under U.S. law. Having a headquarters here is sufficient to subjugate it to U.S. federal law. The Secret Service and the Federal Trade Commission should be all over them.

[RWB]

There are several makers of fake U.S. coins that have somehow evaded law enforcement. But, then, coin fakes are far less total value than handbags and polo shirts....