| Although the recession continues, the most | | | | this. |
| popular hobby within the USA – coin | | | | Unfortunately, on places like eBay, it is all too |
| collecting, especially US coins - has a revenue of | | | | easy to trick potential buyers, by substituting |
| a staggering $5 billion, per year. | | | | pictures of different, legal coins. |
| On the downside, not all that glitters is not what it | | | | It was reported that an individual counterfeiter in |
| seems. Buyer beware – counterfeits abound! | | | | China boasted that he had already produced and |
| A warning to American coin buyers was issued | | | | sold more than one million coins in the US, though |
| recently by respected numismatic advisory | | | | it is not known over how long a period of time... |
| groups, advising Chinese-made counterfeit US | | | | Collectors have been advised to only buy |
| ‘rare' coins are being widely circulated | | | | genuine coins from reputable, professional |
| throughout N America to unsuspecting | | | | dealers. As it is illegal to re-sell counterfeit copies, |
| consumers. | | | | anyone doing so and getting caught risks losing |
| Millions of dollars are passing hands for fake U.S. | | | | their money, and possibly facing charges. |
| old coins, mostly through online auctions like | | | | To help educate the public, a one-day seminar, |
| eBay, and even local via flea markets and | | | | "Introduction to Counterfeit Detection of United |
| swap meets. | | | | States Coins," will be held on April 22, 2010 at the |
| In an effort to halt these activities and protect | | | | Hyatt Regency, in Dearborn, Mich. |
| the public, top numismatic companies have been | | | | The best course of action is to only buy coins |
| actively working to restrict the import of | | | | that have been certified by reputable coin |
| counterfeit coins, monitor and halt fraudulent sales | | | | authentication (or grading) companies who provide |
| via online auctions, and helping the government to | | | | a guarantee of authenticity with all the coins they |
| set up legal actions against those who import and | | | | inspect. Commonly used are American |
| or resell illegal coins. | | | | Numismatic Association Certification Service |
| US law requires replica coins made outside the | | | | (ANACS), Numismatic Guaranty Corporation |
| country to have the word "copy" incised on the | | | | (NGC), and Professional Coin Grading Service |
| coin surface - none of the Chinese coins have | | | | (PCGS). |