Important News! CoinLink has merged..... Visit our NEW Site www.CoinWeek.com

BREAKING NEWS:....... Vist Our NEW Site at CoinWeek.com

All Posts Tagged With: "Counterfeits"

ANA Counterfeit Detection Seminar Offered April 22 at MSNS Spring Convention

The one-day seminar, “Introduction to Counterfeit Detection of United States Coins,” will be offered April 22 at the Hyatt Regency Dearborn in Dearborn, Mich. The seminar is presented through the ANA’s Florence Schook School of Numismatics, and is in conjunction with the Michigan State Numismatic Society’s Spring Convention, April 23-25.

Join instructor Mike Ellis, noted numismatist and variety specialist, and learn how to detect counterfeit and altered coins seen in the marketplace today. All types and denominations of U.S. coins will be discussed, with genuine and counterfeit specimens present for hands-on study. There will also be opportunities for group discussion and one-on-one instruction.

“Introduction to Counterfeit Detection of United States Coins” will be held Thursday, April 22 from 9 a.m. to 5 p.m. Tuition is $149 for ANA and Michigan State Numismatic Society members, and $199 for non-members. To register for this seminar, e-mail education@money.org or call 719-482-9850.

For more information about the Michigan State Numismatic Society, visit www.michigancoinclub.org.
(more…)

Anyone have Change for $1 Million Dollars ?

Two Germans were caught in an Austria mountain town with 500 million dollars in counterfeit banknotes. It’s one of the biggest hauls of counterfeit dollars in Europe. But the culprits say they thought the 1 million dollar bills were real. Below is the article published in DER SPIEGEL Online.

fake_us_one_million_note_germany

He dreamed of living the life of a millionaire — with a villa in the woods and an Aston Martin V12, preferably in Quantum Silver, in the garage. Once a moderately successful provincial attorney, he had decided that he was no longer willing to simply look on while others made their fortunes with major business deals.

But his dreams of that villa, that Aston Martin and all the other trappings of wealth have vanished into thin air. Ralf Hölzen, 46, a tall, slender man with graying hair is sitting in a café frequented by retirees in the town of Goch in western Germany. On his plates sits a slice of Black Forest cake and he is removing the canned cream from atop his coffee. Once again Hölzen is living with his parents, only two blocks from the café.

At the end of January, Hölzen will face trial in a district court in Feldkirch, in Austria’s Vorarlberg region. Austrian prosecutors have filed charges against him and his accomplice, Dietmar B., 52, for attempted fraud and possession of counterfeit banknotes. (more…)

Top 12 Rare Coin Buybacks – PCGS Puts its Money Where Its Mouth Is!

The following is from the PCGS website about Updates to the PCGS Guarantee. This is the first time we know of where one of the major grading services has been so forthcoming as to buybacks under their guarantee, and In Our Optinion, PCGS should be commended for its transparency and openness.

pcgs_logo_lg_refFor 24 years we’ve stood behind the service we provide to you not with a money back/fee returned policy if we make a mistake…not with a “we’re sorry, we’ll return your grading fee or give you free grading” policy if we make a mistake…but with an actual cash guarantee for the market value of the coins we grade and authenticate.

They say that talk is cheap and money talks. So when it comes to the validity of the PCGS Grading Guarantee we’ll let the money do the talking. Here are the cold facts about what we’ve done in the past 24 years.

In the past 24 years, PCGS has (as of Dec 1, 2009) graded 18,784,536 coins with a declared value of $19,138,747,536. That’s 18 million coins worth over 19 billion dollars!

In the past 24 years, PCGS has paid out $7,320,437 under the terms of the PCGS Grading Guarantee. When we make a mistake that involves your coins, we pay for our mistake. It’s that simple.

Here are some detailed figures of the money we’ve paid out under the terms of our grading guarantee. The following is the total amount paid in each of the last six calendar years;
2003…$365,525
2004…$222,227
2005…$507,692
2006…$382,384
2007…$562,541
2008…$1,945,755
2009 (thru Dec 1)…$498,798

You’ll note that the cash figures are increasing, but this may be explained by the fact that coins are worth more today than they were in 2003. The huge amount bought back in 2008 was probably a “perfect storm” aberration (January, 2008 was not a good month for PCGS…see below). (more…)