Counterfeit coins from China turning up in Wash. state

[Mr Grinch]

Counterfeit Morgan silver dollars minted in China like these have reportedly shown up in Washington state. (Photo by Peninsula Daily News)

PORT ANGELES, Wash. - Counterfeit coins by the thousands are turning up in Washington state, and authorities are warning coin collectors to be on the lookout for them.

All or most of the counterfeits appear to be from China.

"Stacks of ingots, bars, all kinds of stuff - they make everything from pennies all the way up to silver dollars," says Port Angeles police officer Duane Benedict. "China is making these things by the thousands."

Several of the fake coins were recently sold to a Port Angeles business, EZ Pawn, for $400. They would have been worth more than $1,500 had they been real, Benedict said. ........
http://www.komonews.com/news/local/115789384.html

[birther truther tenther]

Those Morgans are visually accurate.

I wonder if these counterfeits are made of 90% silver/10% copper, or if they are some other metal.

[Mr Grinch]

they have enough iron in them to be detected by a neodyminium magnet and apparently they are the wrong weight too....

It was at that time Brian pulled out a loupe and looked at a real coin and a suspect one. He found the "T" and the "I" too thick. All the coins were fake.

The real coin weighed in at 26.7 grams. The fake was two grams lighter.

For those of us without a gram scale - there are other tests for detecting the counterfeit coins.

[agentbluescreen]

they have enough iron in them to be detected by a neodyminium magnet and apparently they are the wrong weight too....

Let's hope they haven't figured out about tungsten yet.

Keep your receipts folks.  I guess it beats bootlegging DVDs

[Mr Grinch]

"Stacks of ingots, bars, all kinds of stuff - they make everything from pennies all the way up to silver dollars," says Port Angeles police officer Duane Benedict. "China is making these things by the thousands."

[Kilika]

Man, those Chinese will knock off just about anything. And from the looks of the quality, I'd say it's government-back if not government made fakes. Which that means one thing, they are trying to undermine the US economy, which in years past might have been considered an act of an enemy of the US. Now, it's just business.

[Overcast]

Man, those Chinese will knock off just about anything. And from the looks of the quality, I'd say it's government-back if not government made fakes. Which that means one thing, they are trying to undermine the US economy, which in years past might have been considered an act of an enemy of the US. Now, it's just business.

Let's see...

We've provided them, compliments of the corporations of the world, with the manufacturing equipment to make just about anything....
But I digress.

I hear of more and more counterfeit bills all the time too.

Personally, I think it's a strategy to 'de-value' real currency to make electronic seem 'viable'. In spite of the fact that it will make it even easier to steal..

[Georgiacopguy]

China is known for its super bills, counterfeits that are the hardest ever to detect as counterfeits. They are literally waging economic war against us, and our government keeps playing patty cake with them.

[Overcast]

Really... technically... anything with 'Federal Reserve' on it, is counterfeit.

No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility.

But the crooks running that scam, got it onto the law books around 1913.

[freedom_commonsense]

I don't get the obsession with metals. You can't eat gold, and poor people are more concerned with paying the rent\bills than dabbling in speculated-to-the-hilt precious metals markets.

[Brocke]

An interesting way to undermine the average joes' confidence in precious metals while the globalists let the Chinese gobble up all the loose gold and silver.

[freedom_commonsense]

An interesting way to undermine the average joes' confidence in precious metals while the globalists let the Chinese gobble up all the loose gold and silver.

Would you say the same thing about the British counterfeiting the Continential?

[Brocke]

Would you say the same thing about the British counterfeiting the Continential?

It's an age old strategy. Money ÷ Fear = Control

[freedom_commonsense]

It's an age old strategy. Money ÷ Fear = Control

Fair enough - you sounded like a goldbug, hence my question.

[Brocke]

Fair enough - you sounded like a goldbug, hence my question.

Gold and silver are great hedges against inflation especially if you don't have the space to store food, water, gasoline, ammunition, cigarettes and alcohol.

I can carry $10,000 worth of gold in my pocket. Not so with any of the other commodity I just listed.

Also, if you play the gold/silver ratio you can make a nice profit and never risk your investment.  

[freedom_commonsense]

Gold and silver are great hedges against inflation especially if you don't have the space to store food, water, gasoline, ammunition, cigarettes and alcohol.

I have the money to buy food, but not gold, I may as well just buy what I actually need. It'd be awfully risky piling all of my meagre spare money into an ounce of gold once every 2 years (yes, that's all I could afford at current rates).

I can carry $10,000 worth of gold in my pocket. Not so with any of the other commodities I just listed.

If I was even worth $10,000 in the first place, we wouldn't be having this discussion.

Also, if you play the gold/silver ratio you can make a nice profit and never risk your investment.  

Sorry, I'm too busy trying to survive and keep a roof over my head. If I had enough spare cash, I would look into a franchise rather than speculating on metals markets.

[citizenx]

Let me get this straight, China runs a counterfeiting operation to compete with Rothschilds' counterfeiting operation and then there is a staged Rothschild revolution in China.

Yup, sounds about right.

I love a good family feud.

I hope their efforts to cut out the middle man backfire big time.

[Overcast]

Gold and silver are great hedges against inflation especially if you don't have the space to store food, water, gasoline, ammunition, cigarettes and alcohol.

I can carry $10,000 worth of gold in my pocket. Not so with any of the other commodity I just listed.

Also, if you play the gold/silver ratio you can make a nice profit and never risk your investment.  

Well... to a degree. With gold and silver as high as it is now, it seems like a bad investment to me - personally. I think what seconds that notion is the constant deluge of 'buy gold, buy silver' - if it's so great to own - why are these companies blowing millions in advertising to sell it? You'd think it would sell itself right now.

Call me cynical, but I've been leaning more on stocks right now - which are low, low, low. But when I hear a lot of advertising on an investment type, it suddenly makes me VERY cynical. Obviously - someone's trying to sell something. Let's say - I'm glad I avoided stocks in the 90's and early few years of the 21st century.

Like the whole thing in the 90's - the Carlton Sheets (however you spell it) guy and others - were like "BUY REAL ESTATE!!!" - then the market collapses.

But I must say - the right stocks... I paid off my truck a month ago with the profit. To me - that was issue #1 - transportation. If the economy goes to hell tomorrow and I loose my job - no bank can repo my truck. "Out of debt" is my motto right now.

Of course, it's certain that Gold and Silver are a hard commodity - they can't just be 'done away with' - like a paper fiat currency. That's very true and it still may be a very sound investment if the price continues to go up. Of course, if it does; that means the economy is going to be in *real* bad shape and at that point in the game, I'd rather have tangible items... like: food, water, booze, ammo - other items of trading value.

Even if you are *poor* - consider this: you can buy just an extra box or can of something each time you shop - put it away. Rotate can goods at least once per year - see that way you use them anyway and nothing at all is lost.

Look for 'deals' - oh those corn flakes are 2 for $1.00? Buy a few... it'll save some cash in the long run no matter what.

If we get into a real emergency - the grocery stores will be cleared in a few hours, if that. 50 pounds of Gold may not be able to buy a single pound of food, depending on the circumstance - but a bottle of booze or a box of ammo might well buy a few days worth of food.

But, by all means - if you have the ability, get Gold and Silver too.