It seems that for those buying coins from sellers in China things may be on their way to improving. There has now been a submission center opened in Guangzhou, China for coins and paper money to be submitted to NGC, NCS and PMG. Submissions will still be sent to the headquarters in Fla. And it will definitely be an improvement for those sellers in China that wish to sell genuine coins. So the days of ignoring all coins offered by sellers in China may be coming to a close. A step in the right direction I think.
Probably. Do you think most of the coins certifed at that branch office will be world coins ? ...or are their large numbers of genuine US coins residing in China, waiting to be slabbed ?
Here is the NGC News article http://www.ngccoin.com/news/viewarticle.aspx?NewsletterNewsArticleID=601
It's nice to know that someone is attempting to do something about the fake coin market BUT! I'm a little on the pessimistic side when anyone says they are doing something about stopping crime of any kind. If we can't even make a dent in auto thefts in our own country, I find it difficult to think anyone really is going to even slow down fake China coins.
The key word here is "stopping". I'm sure you're right; there's no way anyone will completely stop any given crime. One thing's for sure - passing a law means you'll have more lawbreakers ! And yet we pass laws ! Better to deal with some crime than none of it. Hopefully NGC / NCS will help. We'll see.
You're forgetting that China was the primary destination for all US trade dollars. Add to that the fact that the world's silver supply had a tendency to trickle East for centuries before that, and you have quite a large stock of coins sitting in Beijing.
They better develop a much more high tech slab. Something that can't be counterfeited. This is an invitation to counterfeit, they are playing with the big boys now.
As I said, they will not be certified at that office, all coins are still going to be sent to the Florida headquarters for certification. But yes, I imagine a large percentage of them will be world coins.
