Author Topic: Pressure on US Mint to crackdown on counterfeit coins  (Read 172 times)

Offline Tascio

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Pressure on US Mint to crackdown on counterfeit coins
« on: October 30, 2017, 03:15:40 PM »
Pressure on US Mint to crackdown on counterfeit coins

https://www.securingindustry.com/security-documents-and-it/pressure-on-us-mint-to-crackdown-on-counterfeit-coins/s110/a6057/#.WfdP-Gi0OUk

Two US Congressmen are demanding answers from the US Mint and Secret Service on their efforts to crackdown on counterfeit gold and silver coins that are increasingly entering the country.

In a letter to the two organisations, Republican Congressmen Alex Mooney and Frank Lucas urged aggressive action on the “growing problem of high-quality counterfeits of US precious metal coins” entering the US from China and other countries.

“Given reports of the growing problem of high-quality counterfeits of US precious metal coins entering the country from China and elsewhere, we wish to learn more about the US Mint’s actions with respect to counterfeits of its current-issue US gold and silver coins,” the Congressmen said.

Enclosed with the letter was a 1995 1 oz. Gold American Coin, carrying a face value of $50 and ostensibly minted by the US Mint.

“You are free to keep it, as it’s a worthless tungsten fake,” the Congressmen wrote. “We are sending it to you because it’s our understanding that the Department of Homeland Security’s US Secret Service was not inclined to investigate the origin of this and a related batch of these counterfeit gold American eagle coins when the matter was recently brought to its attention.”

As members of the House Financial Services subcommittee, which oversees the US Mint, Mooney and Lucas have requested information on the “nature and quantity of complaints” of counterfeit US gold, silver and platinum coins within the past two years, as well as the resulting investigations.