ACEF Concerns Included in Federal Government’s Review of Notorious Markets for Counterfeiting & Piracy
March 21, 2022 — The sale of counterfeit U.S. coins and precious metals on e-commerce platforms and third-party marketplaces continues to escalate and the number of victims proves to be a highly lucrative and profitable business for counterfeiters.
?Unfortunately, victims across the country are falling prey to the unscrupulous marketing tactics, which result in financial losses,” said Doug Davis, Director of Anti-Counterfeiting for the Anti-Counterfeiting Educational Foundation. “For counterfeiters, production costs are low, millions of potential customers are online, a variety of payment options, and listing goods on well-known platforms such as Facebook and Amazon provide an air of legitimacy.”
Several annual reports by federal agencies, such as the Department of Homeland Security report on “Combating Trafficking in Counterfeit and Pirated Goods”, address a number of pirated goods, but none identify or mention the increase in counterfeit coins and precious metals entering the U.S. marketplace.
On February 22, 2022, the Office of the United States Trade Representative (USTR) released the findings of its 2021 Review of Notorious Markets for Counterfeiting and Piracy (the Notorious Markets List). That report included concerns outlined in a nine-page, October 21, 2021 statement by ACEF about the impact of counterfeits on the numismatic community and the general public, as well as the effect on the U.S. monetary system.
The comments articulated on the mission of ACEF and the strategic initiatives of the Anti-Counterfeiting Task Force, including public awareness, and providing educational and investigative resources to dealers, collectors, and law enforcement in regard to counterfeit coinage and precious metals. ACEF, acting through its Anti-Counterfeiting Task Force, also works closely with U.S. Treasury Department Office of Inspector General, Secret Service, Customs and Border Protection.
ACEF expressly identified physical markets such as Facebook, Alibaba’s Aliexpress.com, Amazon, and eBay. ACEF also illustrated through case examples the growing gross victimization of collectors, investors, and the general public. ACTF investigators recently identified several e-commerce platforms marketing counterfeit coins and precious metals using the logos of legitimate dealers and numismatic organizations such as the ANA, ICTA, PNG, and the U.S. Mint.
Representatives from ANA, ICTA, and PNG stated they had not given permission to the platforms under investigation by ACTF to use in the marketing of their counterfeit goods. The illegal misrepresentation provides another layer of legitimacy but infringes on the Intellectual Property Rights of the entities listed above and can cause reputation and financial losses now and into the future.
An example of a China-based seller that fraudulently claimed affiliation
With various organizations. This particular website has now been taken down.
The Notorious Markets List highlights online and physical markets that reportedly engage in or facilitate substantial trademark counterfeiting or copyright piracy. ACEF’s nine-page comment was included in the report. The comments provide a current and in-depth educational overview of the current explosion of counterfeit U.S. coins and precious metals on e-commerce platforms and imported into the United States.
The work of the Anti-Counterfeiting Task Force is supported solely by donations to the Anti-Counterfeiting Educational Foundation, a non-profit corporation. Donations in any amount help make a difference in helping prevent collectors, dealers, and the general public from becoming victims of counterfeits.
Monetary contributions can be made online at www.ACEFonline.org/donate or by check mailed to ACEF, 28441 Rancho California Rd., Ste. 106, Temecula, CA92590. For additional information about donating contact ACEF Executive Director Bob Brueggeman at info@ACEFonline.org.
www.regulations.gov, Docket number USTR-2021-0013.
U.S. Mint Women’s Suffrage Coin Wins Most Historically Significant Coin at 2022 Coin of the Year Awards
WASHINGTON – The United States Mint (Mint) was honored at the 2022 Coin of the Year (COTY) international awards competition with its Women’s Suffrage Silver Dollar recognized as Most Historically Significant Coin.
The Coin of the Year Awards, which began in 1984, are considered one of the most prestigious global award forums among Mints worldwide. Each year, an international panel of judges selects winners from ten categories focused on aesthetic and commercial appeal, commemoration, inspiration, and innovation. A primary winner is ultimately selected from the ten category winners, earning the grand title of Coin of the Year. The United States Mint last won Coin of the Year in 2021.
The obverse (heads) of the Women’s Suffrage Centennial Silver Dollar features overlapping profiles of three distinct women. Each woman is wearing a different type of hat to symbolize the many decades the suffrage movement spanned. The figure in the foreground is wearing a cloche hat with an art deco pattern and a button with the year of the 19th Amendment’s ratification. The inscriptions “LIBERTY,” “$1,” and “E PLURIBUS UNUM” encircle the design.
The coin’s reverse (tails) features the inscription “2020” being dropped into a ballot box styled with art deco elements to indicate the artistic style of the era. “VOTES FOR WOMEN” is inscribed inside a circle of the front of the box. The inscriptions “UNITED STATES OF AMERICA” and “IN GOD WE TRUST” are featured on the ballot box.
Artistic Infusion Program artist Christina Hess designed both the obverse (heads) and reverse (tails) of the coin, which were then both sculpted by United States Mint Medallic Artist Phebe Hemphill.
Authorized by Public Law 116-71, the Women’s Suffrage Centennial Commemorative Coin Act, the Women’s Suffrage Silver Dollar was a commemorative coin that was minted and issued during 2020. Surcharges from the sale of these coins were authorized to be paid to the Smithsonian Institution American Women’s History Initiative for research and creation of exhibits and programs to highlight the history and impact of women in the United States.
U.S. Mint Announces Pause in Production and Sales of Morgan and Peace Dollars for 2022, Popular Historic Program Will Return in 2023
WASHINGTON – The United States Mint (Mint) today announced it will forgo the production and sales of Morgan and Peace Silver Dollars in 2022. This calculated pause is directly related to the global pandemic’s impact upon the availability of silver blanks from the Mint’s suppliers. The suspension will give the Mint time to evaluate the best way to allocate our limited supply of silver to ensure the best customer experience we can.
“We’ll be required to make business decisions like this until the supply chain for silver blanks recovers from the disruptions caused by COVID-19,” said Mint Deputy Director Ventris C. Gibson.
“I want to ensure that our customers know,” she said, “that the modern renditions of the historic Morgan and Peace Silver Dollars will continue next year. Our goal is straightforward: to give our loyal customers the products they want and the service they deserve.”
Please visit the Mint’s 2022 Product Schedule at https://catalog.usmint.gov/product-schedule/2022/.
To reduce the risk of employee exposure to COVID-19 in the workplace, the Mint’s sales centers are closed until further notice. Please use the United States Mint catalog site https://catalog.usmint.gov/ as your primary source of the most current information on product and service status.
2022 United States Mint American Eagle Gold Proof Coins On Sale March 17
WASHINGTON –The United States Mint (Mint) is pleased to announce the sale of the 2022 American Eagle Gold Proof Coins beginning on March 17 at noon EDT. Orders are limited to one coin per household for the first 24 hours from the on-sale date and time.
Struck in 22-karat gold at the West Point Mint, these popular coins are collector versions of the official United States Mint American Eagle Gold Bullion Coins. In 2021, for the first time since their introduction more than three decades before, the reverse (tails) of American Eagle Gold Proof Coins debuted a newly designed portrayal of an eagle, created by United States Mint Artistic Infusion Program Designer Jennie Norris and sculpted by United States Mint Medallic Artist Renata Gordon. Inscriptions are “UNITED STATES OF AMERICA,” “E PLURIBUS UNUM,” and “IN GOD WE TRUST,” along with the face value and weight.
The coins’ obverse (heads) features Augustus Saint-Gaudens’ full-length figure of Liberty with flowing hair, holding a torch in her right hand, and an olive branch in her left. To render a closer reflection of Saint-Gaudens’ original vision, legacy details of the obverse design also were restored in 2021, including modifications to the U.S. Capitol Building, stars, torch, sun rays, and other design elements based on the original bronze cast.
The 2022 American Eagle Gold Proof Coins will be available in the following five product options:
| PRODUCT CODE | PRODUCT OPTION | PRODUCT LIMIT | MINTAGE LIMIT |
|---|---|---|---|
| 22EB | One Ounce Coin | 6,000 | 16,000 |
| 22EC | One-Half Ounce Coin | 2,000 | 12,000 |
| 22ED | One-Quarter Ounce Coin | 4,500 | 14,500 |
| 22EE | One-Tenth Ounce Coin | 14,000 | 24,000 |
| 22EF | Four-Coin Set (includes one of each weight) | 10,000 | N/A |
American Eagle Gold Proof Coins are priced according to the range in which they appear on the Mint’s Pricing of Numismatic Gold, Commemorative Gold, and Platinum and Palladium Products table. Current pricing information is available here.
The one ounce and four-coin sets are part of the Authorized Bulk Purchase Program and are available to Authorized Bulk (AB) members. Products listed in this program will be eligible for early release, carry an AB suffix to the product code, and may carry a premium. Early released products are not eligible for discounts.
Information about additional products featuring the American Eagle Gold Coins will be published on the Mint’s 2022 Product Schedule at https://catalog.usmint.gov/product-schedule/2022/.
Note: To ensure that all members of the public have fair and equal access to United States Mint products, the United States Mint will not accept and will not honor orders placed prior to the official on-sale date of March 17, 2022, at noon EDT.
To reduce the risk of employee exposure to COVID-19 in the workplace, the Mint’s sales centers are closed until further notice. Please use the United States Mint catalog site at https://catalog.usmint.gov/ as your primary source of the most current information on product and service status.
Astounding 100-Note Pack of Series 1934A $500 Notes is First Banknote Pack Graded Under New PCGS Service
PCGS is introducing grading for packs of 50 or 100 small-size U.S. banknotes, enabling the protection of consecutive notes while keeping the pack intact.
A full 100-note consecutively numbered pack of Series 1934A $500 Federal Reserve Notes is the first submission under a new banknote pack grading and encapsulation program that Professional Coin Grading Service (www.PCGS.com) will soon be debuting in the United States.
“This is not only one of the oldest-surviving intact packs of U.S. banknotes to surface, but also the only pack of $500 notes believed to exist. It could be one of the rarest and most valuable banknote packs,” states PCGS President Stephanie Sabin.
It was submitted by U.S. Coins and Jewelry (uscoinsandjewelry.com) in Houston, Texas, under a new PCGS service option that will provide for the encapsulation of full (100) and half (50) consecutive packs of small-size U.S. banknotes, which are graded as a whole unit and provided a single grade based on the condition of the entire pack.
“We are excited to offer banknote pack grading, an innovative option for those who wish to keep packs of banknotes intact rather than split them apart and have the notes graded individually,” remarks Sabin. “The benefit of grading an entire pack of banknotes rather than individual notes has a lot to do with certain collectible characteristics that are unique to packs of banknotes, such as keeping together a run of notes with consecutive numbers, consecutive Star Notes, and the like. There are even cases where a pack of notes may be historical or collectible for other reasons, such as having an origin associated with a bank hoard, a notable collector, or other numismatically significant factors.”
The historic pack of $500 banknotes was on display at the PCGS Booth (#401) at the recent Long Beach Expo, February 17-19, 2022.
Read more → here.
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