Washington, DC (October 29, 2017) — Congressmen Alex Mooney (R-WV) and Frank Lucas (R-OK) delivered a formal letter to the United States Mint and the Secret Service on Friday, urging aggressive action on the growing problem of high-quality counterfeits of U.S. precious-metals coins entering the country from China and elsewhere.
The congressmen request information as to whether, and to what extent, the U.S. Mint has taken proactive steps to protect the integrity of America’s minted coins, including reviewing and implementing the anti-counterfeiting measures already put in place by certain foreign government and private mints.
The congressmen also raised concerns about a Secret Service decision not to investigate the origin of a counterfeit batch of American Gold Eagle coins when the matter was recently brought to its attention.
The majority of counterfeits are sold on China’s Alibaba.com website and then find their way into other US markets, primarily Ebay. Alibaba is listed on the New York stock exchange. The SEC is in a position to put pressure on Alibaba.
I hope they add nuggets to any actions that they might come up with. But fake nuggets are usually done here in America, so who knows.