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Avoid Counterfeit Coins from China by Choosing the Right Dealer

For decades, China has been exporting a wide variety of counterfeit products, including bullion coins, rare coins and currency. A part of the problem has been the fact that we have had very little skilled oversight at the federal level. It’s a little-known fact, but under President Barack Obama, there was no nominated and confirmed Mint Director. Only when President Trump took office did he nominate a new Mint Director, David J. Ryder, who had previously served as Mint Director under George H.W. Bush.  Bush nominated him for that office in September 1992, and he served until November 1993, the first year under Bill Clinton.

In the 24 years between his two tenures as Director of the Mint, Ryder became an expert in counterfeit detection after he joined Secure Products in 1994. When the Honeywell Corporation acquired Secure Products in 2007, Ryder was Managing Director of Currency for Honeywell, where he developed and launched highly advanced anti-counterfeiting systems for both manual and high-speed authentication of currency, passports, bank checks, and other commercial products. Then, in 2017, President Trump nominated Ryder as Director of the United States Mint and he was confirmed on March 21, 2018.

Mint Director Ryder’s expertise in counterfeit deterrence and detection is the first part of the solution to stopping the counterfeit invasion from China that President Obama did not provide. The second important consideration is that President Trump himself, is the first President who has been tough on China on all fronts, including counterfeit products. China very much wants American voters to defeat Trump.

The third factor in counterfeit protection is the dealer you choose. Some counterfeit coins are still being sold by dealers who are incapable of telling the difference between the real thing and the “near misses” produced by skilled counterfeiters. I taught grading and counterfeit detection for 20 years and am often called to consult with customers about suspicious coins bought from other dealers.

So, if you want to put the odds on your side, stick with David Ryder, Donald Trump and Team Mike.

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