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Man passes counterfeit coins at local pawn shop
The Gadsen Times ^ | June 28, 2011 | Lisa Rogers

Posted on 06/29/2011 11:24:45 PM PDT by OneLoyalAmerican

Police are looking for information about a man who sold 40 fake silver dollars to a pawn shop on Friday, Gadsden Police Capt. Regina May said.

The owner of Mal’s Pawn Shop on Broad Street bought the coins, which were sealed in a coin display book, for $1,120, May said. After the man who sold the coins left the store, the coins were more closely inspected and were determined to be steel, May said.

“They are counterfeit and look very authentic,” she said.

(Excerpt) Read more at gadsdentimes.com ...


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1 posted on 06/29/2011 11:24:50 PM PDT by OneLoyalAmerican
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To: jiggyboy; PA Engineer; blam; TigerLikesRooster; Cheap_Hessian; CJinVA; Jet Jaguar; ...
goldbug ping


2 posted on 06/29/2011 11:28:03 PM PDT by OneLoyalAmerican (In God I trust, all others provide citations.)
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To: OneLoyalAmerican

Since there is no such thing as a 1906 Morgan silver dollar, minting having been stopped in 1904 and resumed for only one year, 1921, I wonder if these are actual, or fake counterfeits?


3 posted on 06/29/2011 11:29:33 PM PDT by Attention Surplus Disorder (Tired of being seen as idiots, the American people went to the polls in 2008 and removed all doubt.)
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To: OneLoyalAmerican

Total silver value was $1,080.36.


4 posted on 06/29/2011 11:30:50 PM PDT by OneLoyalAmerican (In God I trust, all others provide citations.)
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To: OneLoyalAmerican
The shop owner should either invest in a jewelers loop or a magnate. Rick from Pawn Stars would never fall for this.


5 posted on 06/29/2011 11:34:14 PM PDT by Lazlo in PA (Now living in a newly minted Red State.)
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To: Attention Surplus Disorder

Greetings Attention Surplus Disorder:

In our case, we only purchase melt quality silver coins, so I plead ignorance. Coinflation.com melt value calculator indicates a field for 1878-1921 Morgan Dollars.

Cheers,
OLA


6 posted on 06/29/2011 11:34:51 PM PDT by OneLoyalAmerican (In God I trust, all others provide citations.)
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To: OneLoyalAmerican

Steel? That’s odd. Who would do it in steel, and who would have the talent and equipment to duplicate a coin in steel?


7 posted on 06/29/2011 11:55:24 PM PDT by ltc8k6
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To: ltc8k6

Greetings ltc8k6:

Roger that. If someone went through all this effort, why not make some silver counterfeits of very rare coin mint dates?

One other thought. Perhaps these are a truly rare item. From a test run through actual dies that were supposedly destroyed.

Cheers,
OLA


8 posted on 06/30/2011 12:03:51 AM PDT by OneLoyalAmerican (In God I trust, all others provide citations.)
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To: ltc8k6

Chinese are making fake US silver coins.


9 posted on 06/30/2011 12:10:07 AM PDT by Kirkwood (Zombie Hunter)
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To: OneLoyalAmerican

http://coins.about.com/od/worldcoins/ig/Chinese-Counterfeiting-Ring/


10 posted on 06/30/2011 12:11:29 AM PDT by Kirkwood (Zombie Hunter)
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To: OneLoyalAmerican

It’s Chumlee’s fault, I’m sure...


11 posted on 06/30/2011 12:25:19 AM PDT by richmwill
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To: OneLoyalAmerican
Why would anyone lay down a thousand plus bucks for coins sealed up where they couldn't be carefully inspected and why would the buyer only look closely at them after the seller has left the store?

Something’s a little off here.

12 posted on 06/30/2011 12:34:05 AM PDT by count-your-change (You don't have be brilliant, not being stupid is enough.)
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To: Kirkwood

Greetings Kirkwood:

Thanks for the link. UP until this point, I didn’t think it was profitable for the Chi-Coms to counterfeit silver coins.

Cheers,
OLA


13 posted on 06/30/2011 12:44:42 AM PDT by OneLoyalAmerican (In God I trust, all others provide citations.)
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To: count-your-change; richmwill
Greetings count-your-change:

Something’s a little off here.

Roger that. And paid above melt value too. Unless it was Chumlee; not gon'na happen.

Cheers,
OLA

14 posted on 06/30/2011 1:26:24 AM PDT by OneLoyalAmerican (In God I trust, all others provide citations.)
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To: OneLoyalAmerican; jiggyboy

When did public servant (taxpayer supported) Police Depts. become the Pawn Shop Cops?

They should arrest the owner/buyer for 3rd Degree Felony stupidity. If you advertise that you buy gold and such then go to the hardware store and buy a magnet, maybe $2.00. Next step is to buy a gram/dwt scale, $100.00.

Even if the seller knew they were counterfeit, no charges can be filed against him.


15 posted on 06/30/2011 1:51:48 AM PDT by panaxanax (0bama >>WORST PRESIDENT EVER.)
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To: panaxanax
Greetings panaxanax:

When did public servant (taxpayer supported) Police Depts. become the Pawn Shop Cops?

Most likely since July 5, 1865 when Title 18 of the United States Code, Section 3056 was effective.

Cheers,
OLA

16 posted on 06/30/2011 2:14:07 AM PDT by OneLoyalAmerican (In God I trust, all others provide citations.)
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To: OneLoyalAmerican

I’m aware of that, thank you.

There are millions of ‘copy’ or ‘replica’ coins on the market. Many come in display frames for exhibit. Some are marked “copy”, some are not.

If the seller represented the coin display as genuine with certified (fake) appraisal or like documents, then he could likely be charged for a number of crimes. If he just walked into the store and said “how much do you want to give me for this?”, he will be in the clear.

The Pawn Shop owner/buyer probably saw the ‘key dates’ and was immediately so overcome with greed that he didn’t check them out further. His fault. He then whined to the police when one of his magnetic business cards flew across the room and stuck to the display.

He also probably called them when he found out that the ‘original’ Mona Lisa he bought last year from a homeless guy was actually a copy!


17 posted on 06/30/2011 2:52:09 AM PDT by panaxanax (0bama >>WORST PRESIDENT EVER.)
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To: OneLoyalAmerican
Question:
Do you think a few rolls of 90% silver coins (Morgan and Peace) are wise to keep on hand for barter in case the SHTF?
I thought newer .999 silver dollars would be more commonly counterfeited and older ones would be safer.
Any thoughts?
18 posted on 06/30/2011 4:29:47 AM PDT by Psalm 73 ("Gentlemen, you can't fight in here - this is the War Room".)
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To: OneLoyalAmerican

Maybe it’s like the Superman episode where Professor Pepperwinkle turns metal into gold- but it turns out the entire process costs more than the gold itself.


19 posted on 06/30/2011 4:37:06 AM PDT by Krankor (i)
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To: Attention Surplus Disorder

-——or fake counterfeits?-——

The question is were they really counterfeit? If they were not copies of actual coins were they counterfeit? Were they not just objects, say objects of art?


20 posted on 06/30/2011 4:45:37 AM PDT by bert (K.E. N.P. N.C. D.E. +12 ....( History is a process, not an event ))
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