August 29, 2013 – US House of Representatives has passed a bill applying modifications to the ‘Hobby Protection Act.’ Producing imitations and selling them as genuine has been punishable by law for a long time. But today fake slabs have increasingly become a problem and will henceforth be regarded as illegal too: ‘Collectibles certification service means a person recognized by collectors for providing independent certification that collectible items are genuine.’ After the summer break Senate has to decide upon the bill. You can read an article on that topic at Coin News … http://www.coinsweekly.com/en/News/4?&id=2241
They will be illegal. So is pornography, illicit drugs and prostitution. Unfortunately you can make something illegal but don't eliminate the demand.
I agree its better to have it than not, my main problem is enforcement. Heck, at a local coin show a dealer had a ton of 1916 SL quarters, 1901s barbers, etc in beautiful BU condition. All of them fake, though curiously he never told me they were fake until I told them they were fakes, hmmm. Anyway, all unmarked as to COPY, all in a dealer showcase. When I pressed him on them, he said, "I sell them as a service to collectors to show them what to be careful of". Yeah, right. Evidently it was up to ME to enforce anything. I called the show organizer, complained, threatened to call the Secret Service to his coin show, etc. I was a general SOB. The next show the organizer found this guy still having them in his cases unmarked, and he asked him to leave. Was I a jerk? Yeah, but maybe I stopped one collector from wasting money, and maybe kept a few of these higher quality fakes off the market. For that, I am willing to be a jerk. They were pretty darn good, too.
If he was selling them as a "service to collectors", then I would assume that he charging only a buck or two apiece? If he was selling them for genuine coins values, he should be identified as the scam artist that he is so all may shun him.
I totally agree with it it would make coin collecting more strong. For god sake theirs fake PCGS slabs it needs to be stoped
I'm not sure what you mean by that statement. Do you believe it will make numismatics "safer"? If you do, then you are only kidding yourself. Regardless, the prognosis of HR2754 passing the Senate is only 28%.... even politicians realize this bill is unenforceable. http://www.govtrack.us/congress/bills/113/hr2754
Good! Its about time that someone at least put up some financial and criminal barriers to not only protect the coin collector but the TPG's as well. Its kinda like the "anti-piracy" laws governing movies.................. Will it make folks safe? Maybe not but hopefully those perpetrating this activity will give it a second thought other than "there's a fast buck to be made!" The responsibility is still on the collector who, at times, shows his/her greedy teeth on occasion. Remember that Coin Shop that filed a complaint with the PD because someone had come into his store and sold him something like a 100 or so counterfeit Morgans for $9.00 each? (Morgans were trading at closer to $25 each back then.)
That's beautiful, poetic justice. If I were the cop taking the report, I would have laughed in that scum dealer's face and said he is lucky he's not the one being arrested.
