The dangers of buying counterfeit products are not always obvious. There are economic implications, legal implications, and health and safety risks that you need to be aware of before buying. Pay special attention to counterfeit products when shopping online. Counterfeit products can lead to real dangers. It is illegal to knowingly possess, buy, or sell counterfeit U.S. parts. You must hand over the forgery(s) to the nearest local law enforcement officer or U.S. intelligence outpost. With the booming market for rare and antique coins — and New York`s largest coin markets — counterfeiters have mastered the art of producing near-exact replicas of precious collectibles, with enough accuracy to fool experts. It is illegal to knowingly possess counterfeit U.S. and foreign bullion coins, precious metal bars, and/or banknotes.
Ask the person to hand over the forgery(s) to the nearest local law enforcement officer or U.S. law enforcement officer. Secret Service branch. NOTE: Some people may not feel comfortable contacting counterfeit coins or paper money and voluntarily handing them over to law enforcement. If you are a trader and are willing to take the risk, you can take responsibility for it if you have no problem forwarding the fake(s) to the nearest information office as soon as possible. Write down basic information about the part (drawing type, date, mint mark, etc.) and, if possible, take a photo. Ask for the owner`s name, address and contact information. (Get a photocopy of your driver`s license or other identification, if possible.) provide the owner with a copy of the recorded information; Date and signature in the presence of the owner. Place a copy of the recorded information and counterfeit items in an envelope and seal it in the presence of the person. Tell the owner or the person providing you with the items that you will hand over the counterfeit items and information to law enforcement. Before assuming responsibility for transmitting counterfeits on behalf of others, it is wise to establish a relationship with your local police, sheriff and secret service branch to ensure that this process runs smoothly.
Much of the fake U.S. currency is actually held overseas. Many buyers buy precious metals that are not real, and some are not aware of it. As someone who sells gold coins, you could become a victim yourself and buy these counterfeit products online, at a trade show or from a wholesaler. Either way, you should always check the authenticity of the pieces before reselling them to avoid legal problems. Below, First National Bullion`s experienced professionals, Scottsdale gold coin dealers with unparalleled market expertise you can rely on, provide information on selling precious metals, including whether it is illegal to sell counterfeit gold coins and the possible consequences. In its last session last year, the U.S. Congress passed legislation aimed at protecting consumers from the flood of fake old gold and silver coins flooding the market.
The working group works under the auspices of the charitable foundation, which is similar to a committee. Doug Davis is Director of the Anti-Counterfeiting Foundation and coordinates the work of the Task Force. Police are looking for a man who passed fake coins in a series of fake coins in Colorado, Iowa, Missouri, Kansas and other states. In fiscal year 2013, federal authorities confiscated approximately $88.7 million in counterfeit U.S. currency. Many of these counterfeit notes circulate in other countries. The U.S. intelligence agency, which investigates suspected counterfeiting, estimates that about half of all real U.S. currency in circulation — according to a 2006 report, the amount was about $450 billion out of a total of $760 billion — is held overseas. Federal law allows for the prosecution of counterfeits outside the United States, but the United States has not ratified the most important international treaty, the International Convention for the Suppression of Counterfeit Money. Many counterfeit products are of inferior quality and can cause injury.
Protect yourself and your family by avoiding potentially risky items. Every time you buy a counterfeit product, a legitimate business loses revenue. This results in lost profits and jobs in the U.S. over time. Plus, you work hard for your buck and by buying from reliable sources, you make sure you get what you paid for. Know who you`re buying from. If they want to work with trusted precious metal dealers who provide quality service to collectors who buy and sell silver, platinum and gold coins, Scottsdale residents can count on First National Bullion`s professionals. Call us today at (480) 546-5089 to speak to one of our gold coin experts.
