TBR News – March 2, 2009
“ My story about the Chinese counterfeiting
American (and other nations’) coins has started a huge stink. I am inserting here an email from a friend of mine in the Department of Justice, who will naturally not be identified. What he has to say is most interesting:
“You are definitely onto something big, and I suppose that the Secret Service probably is more concerned over the sophisticated counterfeiting of modern currency such as the Nokos' $100 bills. It would seem to me that the coin problem will cause a great deal of unhappiness with Americans in general because probably millions of Americans have modest coin collections.
On second thought, maybe the Secret Service is accepting of Chinese fake coins since we have encouraged Chinese crap for many years now, and coins are probably just seen as another version of Mattel toys. If coin owners do get bent out of shape, and if dealers see their business going south when there should be an avalanche of coin buying right now, there may be some irate demands going to government.
From a friend in one of the agencies, I can give you some inside information. One of the main distribution points for the huge number of faked U.S. silver Morgan and Peace dollars and, interestingly enough, faked Chinese Panda gold coins, is the Liberty Coin Company. It is located in Cliffside, New Jersey and their very private phone line (only for special code American dealers in on the game) is 201 917-7130. It is estimated that the number of coins that have poured into the United States from China are over 100,000 in three years. The inactivity of the U.S. Customs and the Secret Service has emboldened the forgers and their American crime partners to double and redouble their activities.
I don't think government has the courage to take action, but we will see. Keep after it.”
Also, we were sent this from a website that is of some interest:
“Have any of our people read, or heard of "The Voice of the White House"..right? Have ANY OF YOU ever seen an article that was basically absent of political rhetoric, and nothing but info on gold and silver investing, and a warning to all who enter this attempt to preserve buying power of their money???
I am NOT complaining mind you, just noting an extreme, (to me anyway), anomoly type article..from the voice folks..hmmm A big steer away from the usual article from these folks.”
After more input, I can say, with absolute certainty, that a number of Chinese firms, with the full knowledge (though not with the direct cooperation) of the Chinese government are producing and selling throughout the world, all
of the U.S. Morgan silver dollars, many of the so-called Peace Dollars, three different dates of U.S. $20 dollar St. Gaudens gold coins, the three Indian head gold coins and for a certainty, gold bars from the Credit Suisse. All of these fakes are made of watered-down gold and silver and are below official weights.
The fact that neither the U.S. Customs (under the Department of Hopeless Security) or the Secret Service have shown the slightest interest in this avalanche of fakes
and when I have called, from my home and not the office, these people, they have expressed no interest in the subject and when I have offered to email material to them, they have all declined the offer. It is their lack of interest, for whatever reason, that has emboldened both the Chinese fakers and their American sellers to pour tens of thousands of counterfeit coins off on the unsuspecting American people.
This is a subject that I fully intend to follow through on and I am attaching here some information I have gotten from various sources. I note that the major coin magazines indicate an awareness of “some” counterfeiting but limit this to “a few coins.” I also note that the Chinese are now forging their own Panda coins which are also adulterated.
For more Voice of the White House see our Inside the White House archive:
A Complete Copy of the Voice of the White House from TBR News April 18, 2004- December 29, 2005
Last updated 06/03/2009