H.R. 5977 Seeks to Extend the Hobby Protection Act

http://news.coinupdate.com/house-bill-seeks-to-extend-hobby-protection-act-1451/

 

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I guess I would urge everyone to contact their Congressional representatives and urge them to support this bill.

 

Indeed!

 

Better get a LOT of help... only 8% chance of this bill being enacted. I doubt the wording will allow passage.

 

Only problem is that my Congress critter is a total jackass.

 

I'm confused.

Your statement suggests this is somehow different from the norm...

 

On the surface it looks great.
Don't know about the details yet though.

 

My view on this is that it is needless government interference with the free market. Undue regulation like this hurts small business, and in this economy we cannot afford that. The solution to the counterfeiter problem is vigilance on the part of collectors and TPGs, and vigorous prosecution of counterfeiters. The solution is not saddling honest replica manufacturers with the requirement that they print a big, ugly "copy" stamp on their product.

I hope this this fails to get renewed.

 

Yeah, it hurts the Chinese con artists..........

 

Yeah Chuck will listen to me.

 

Shwab?

 

Chinese counterfeiters don't fall within federal jurisdiction. Even if this law passes, it doesn't apply to them.

 

No? Enlighten me.

 

They're making their counterfeits in China, under Chinese law. From what I've heard it's perfectly legal to make replica coins and not stamp copy on them in China; or at least they do it openly with a wink and a nod from the government. This law doesn't make a bit of difference to them.

Only honest replica manufacturers are hurt by this law. The dishonest ones will do as they please, and in China they will do so legally.

 

You're welcome to your opinion, and you've heard mine. I'm not interesting in having a discussion if this it is only going to be met with sarcasm.

 

I think AJ is referring to the fact that our laws don't mean much to the Chinese... or any other counterfeiter in fact. The manufacturing of U.S. numismatic items is perfectly legal in China (as we all know), and any additions or modifications to the HPA means nothing to them. And they'll find a way to get them here... you can count on that. In the meanwhile, they're perfectly immune to any U.S. jurisdiction, so basically this resolution is worthless (as is the HPA if you think about it).

 

Look...AJ....I'm not trying to be sarcastic. I'm sorry if that was what you felt......it wasn't what I intended. I understand that the laws are different in the sovereign nation of China, but when the replicas (Chinese) wind up here in the USA and are being passed off for the 'real deal', that's where I take exception.

 

They do when they export their counterfeit pieces to the U.S.

 

Maybe so, but they're still untouchable. However, the U.S. based "importer" is subject to jurisdiction, but unless the quantities are large, or the importer is buying them specifically to resell as genuine, little will be done. Oh, there will be an occasional "bust" to show everyone the laws are working, but in the overall scheme of things, any effect will be minimal.

 

Agreed.