Do we have a right to be worried??

I will get working on a draft of a letter that I would like to send to Congressman Paul, who is Chairman of the House Subcommittee on Domestic Monetary Policy and Technology and whose jurisdiction includes coinage.

 

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Thank you for taking action, and keep us informed. I would even be interested in a generic rough draft to send to my local congressman.

 

If you know anything at all about coins, then you are just being paranoid.

 

I wouldn't be so quick to say that. Some of these facilities are producing counterfeits good enough to fool the TPGs. They are using the same information we use to detect fakes to improve them. It's not just the key dates you need to be cautious of anymore. You can assemble a complete set of fake Morgans without too much searching these days.

 

@19lyds
Your right I am not good at detecting fakes. I have no need to however. I only purchase coins from 3 dealers whom I have known for several years. I collect coins because I am fond of the hobby. I don't scrounge the Internet and attend fleamarkets to buy coins to make a quick buck. Knowledge of fakes and how to stop them serves me know interest. But calling me paranoid Is pretty ignorant on your part because if you were to keep up on modern days you would know that Chinese fakes are getting closer and closer to becoming indistinguishable. Here's another fact for all of you who think I should become "literate" in the fields of fakes. The Chinese have bought many of the machines the united states used to develop coinage in the past. In short when I collect coins I buy for my enjoyment and only from 3 people. My local coin dealer, one who works at great northeast coins, and my coin dealer in Germany. I don't buy coins to play detective as some people here enjoy doing. I have no fear of the fakes that are made today. I fear the fakes in the next 20-30 years or so. That's what I'm "paranoid" about.

 

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Fretboard: Obviously you are one of the few who doesn't have their head in the sand. I commend you!

 

I support QUARTERTAPPER on this one!

 

*I have decided to revise the contents of my original post so I have deleted it for the time being*

 

If you do not want someone to agree that you are being paranoid, then don't ask for the opinion and then imply that the individual that offered that opinion.........IGNORANT!

If you didn't want someone to agree that you were being paranoid, you shouldn't have asked.

 

edited

 

Sorry, his calling me ignorant for replying to his question did not make me feel like a "gentleman".

 

You did not answer my question. You bluntly insulted me for no good reason. What response were you expecting?

 

I would think that if the profit to be made from fakes is high enough, they probably can produce fakes not distinguishable from the real thing. Of course, they'd have to exacly duplicate the coin's metal composition as well as the stamping process, engraving, weight, size, etc. If this were to be accomplished, this would be devestating to the rare coin market by flooding the market, something our own mint has done from time to time, but with the real thing, driving the value down.