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1st American Reserve and their Numismatic Consultant Protect You from Counterfeiters

During this unprecedented pandemic, counterfeiters and fraudsters have been very quick to capitalize on the fear and anxieties of victims and adapt their modus operandi to seize upon criminal opportunities during this crisis. The number of counterfeit reports and fraud schemes have continued to increase. Factors that have prompted this increase include high demand for coins and precious metals, decreased mobility, the public staying at home teleworking, increased on-line buying, internet exploration, and decreased supply of products. The criminal threat related to counterfeit rare coins and even precious metal bullion remains dynamic and new or adapted types of criminal activities will continue to emerge during the crisis and in its aftermath. 1st American Reserve wants to help you buy genuine silver and gold coins, safely and without the risk of being duped by counterfeits. Our numismatic consultant, Dr. Mike Fuljenz, sits on the board of the Anti-Counterfeiting Task Force, which has identified more than 100-plus websites selling counterfeit coins and precious metals. “In the past year, I have reviewed several customers’ coin collections and sadly detected one or more counterfeit coins,” Fuljenz said. “In one instance, the majority of one person’s collection consisted of counterfeit-proof American Buffalo one-ounce gold coins, with all coins appearing in what looked like genuine NGC holders. The holders themselves were also fraudulent. Many of these counterfeits seem to have been, ‘Made in China.’ “Other collectors I have helped, had counterfeit American Gold Eagle coins, as well as, counterfeit Morgan, Peace, and Trade Dollars purportedly made from silver. Metals composition testing revealed they were made of copper, nickel, zinc, tungsten or other inferior metals. Some counterfeit Trade Dollars were easily spotted because there were no dates used when Trade Dollars were minted. This caused them to ring at a very high pitch versus the sound of a real silver dollar when tapped with a pen.” As part of 1st American Reserve’s commitment to its customers and the public, as a whole, we want to remind you to be sure you know who you are buying your coins and precious metals from. Make sure they are BBB accredited, have affiliations with industry trade groups and contribute to the numismatic industry through publications, philanthropy and by giving their time to help others. “Does the dealer you are considering have a long-term track record of honest dealing – a reputation that must be maintained by continuing to deal with honesty and integrity? These are the instructions I provided to the Attorney General of Texas when I helped him with is Gold Coin Consumer Protection Alert. And these are the same qualities that make fee confident about being chosen as the numismatic consultant for 1st American Reserve.”


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