ICTA responds to U.S. Mint’s position on counterfeit U.S. precious metals coins
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You also agree to follow these guidelines. You must agree to these rules to be a member of this forum. NO SPAM! Spam is deleted within minutes, no spam will ever be left in our community.
1. Post a front and back image of your coin with a specific question about what you’re seeing or asking about and one coin per topic.
2. Please remove coin from the holder unless it’s US or an official mint case or unless it is graded by a grading service.
3. Images should be taken by a camera or cell phone camera, we ask that members don’t use images through a microscope screen.
4. Always start your own topic, please don’t ask about your coin or post your coin in someone else’s coin topic.
5. Do not send private messages about your coin unless an Admin ask you too and the same for sending emails through the board.
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Re: ICTA responds to U.S. Mint’s position on counterfeit U.S. precious metals coins
We most certainly need strong legislation and alliances on this with China and other countries creating these fakes.
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Re: ICTA responds to U.S. Mint’s position on counterfeit U.S. precious metals coins
I'd have to say the laws are already on the books.
Instead, we need enforcement.
Instead, we need enforcement.
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Re: ICTA responds to U.S. Mint’s position on counterfeit U.S. precious metals coins
That I know of there's no international laws for prosecuting counterfeiters of United States coins that live in another country. There has to be a way for these foreign counterfeiters to be fined and jailed and their operations shut down and for all the coins to be confiscated.
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Re: ICTA responds to U.S. Mint’s position on counterfeit U.S. precious metals coins
One of the few laws specified in our Constitution and set up by the founding fathers concerned that a new nation could be subverted by foreign countries destroying our economy. (Article 1, Section 8, Clause 6)
Congress passed the first anti-counterfeiting statute in 1790.
The current federal prohibition on counterfeiting is found in 18 U.S.C. §§ 470–513 (2004), which generally provides for an unspecified fine or imprisonment of not more than twenty years, or both, for its violation. This law applies equally to any foreign nation by section 470.
§470. Counterfeit acts committed outside the United States
A person who, outside the United States, engages in the act of—
(1) making, dealing, or possessing any counterfeit obligation or other security of the United States; or
(2) making, dealing, or possessing any plate, stone, analog, digital, or electronic image, or other thing, or any part thereof, used to counterfeit such obligation or security,
if such act would constitute a violation of section 471, 473, or 474 if committed within the United States, shall be punished as is provided for the like offense within the United States.
(Added Pub. L. 103–322, title XII, §120003(a), Sept. 13, 1994, 108 Stat. 2021; amended Pub. L. 107–56, title III, §374(a), Oct. 26, 2001, 115 Stat. 340.)
Amendments
2001—Pub. L. 107–56, §374(a)(2), in concluding provisions, substituted "shall be punished as is provided for the like offense within the United States" for "shall be fined under this title, imprisoned not more than 20 years, or both".
Par. (2). Pub. L. 107–56, §374(a)(1), inserted "analog, digital, or electronic image," after "plate, stone,".
Short Title of 1992 Amendment
Pub. L. 102–550, title XV, §1551, Oct. 28, 1992, 106 Stat. 4070, provided that: "This subtitle [subtitle E (§§1551–1554) of title XV of Pub. L. 102–550, enacting section 474A of this title and amending sections 474 and 504 of this title] may be cited as the 'Counterfeit Deterrence Act of 1992'."
Congress passed the first anti-counterfeiting statute in 1790.
The current federal prohibition on counterfeiting is found in 18 U.S.C. §§ 470–513 (2004), which generally provides for an unspecified fine or imprisonment of not more than twenty years, or both, for its violation. This law applies equally to any foreign nation by section 470.
§470. Counterfeit acts committed outside the United States
A person who, outside the United States, engages in the act of—
(1) making, dealing, or possessing any counterfeit obligation or other security of the United States; or
(2) making, dealing, or possessing any plate, stone, analog, digital, or electronic image, or other thing, or any part thereof, used to counterfeit such obligation or security,
if such act would constitute a violation of section 471, 473, or 474 if committed within the United States, shall be punished as is provided for the like offense within the United States.
(Added Pub. L. 103–322, title XII, §120003(a), Sept. 13, 1994, 108 Stat. 2021; amended Pub. L. 107–56, title III, §374(a), Oct. 26, 2001, 115 Stat. 340.)
Amendments
2001—Pub. L. 107–56, §374(a)(2), in concluding provisions, substituted "shall be punished as is provided for the like offense within the United States" for "shall be fined under this title, imprisoned not more than 20 years, or both".
Par. (2). Pub. L. 107–56, §374(a)(1), inserted "analog, digital, or electronic image," after "plate, stone,".
Short Title of 1992 Amendment
Pub. L. 102–550, title XV, §1551, Oct. 28, 1992, 106 Stat. 4070, provided that: "This subtitle [subtitle E (§§1551–1554) of title XV of Pub. L. 102–550, enacting section 474A of this title and amending sections 474 and 504 of this title] may be cited as the 'Counterfeit Deterrence Act of 1992'."
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Re: ICTA responds to U.S. Mint’s position on counterfeit U.S. precious metals coins
Yes, but there's no legislation to enforce this to happen. All this says is that it is illegal and more of a warning than anything else, as far as foreign countries are concerned. We need stronger legislation and compliance from the governments that have offenders committing these crimes for the sole purpose of ripping American collectors off.
Thanks for posting. All good information there. I just can't believe it has been a mute issue by our law makers.
Thanks for posting. All good information there. I just can't believe it has been a mute issue by our law makers.
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Re: ICTA responds to U.S. Mint’s position on counterfeit U.S. precious metals coins
:eureka:
I just can't believe it has been a mute issue by our law makers.
well D, if it does not effect them, why bother, right ??
M, i also read somewhere (?), that these "laws" apply only to 'currency of 5 cents or greater',......
which leaves the "CENTS" at risk !!
I just can't believe it has been a mute issue by our law makers.
well D, if it does not effect them, why bother, right ??
M, i also read somewhere (?), that these "laws" apply only to 'currency of 5 cents or greater',......
which leaves the "CENTS" at risk !!
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Re: ICTA responds to U.S. Mint’s position on counterfeit U.S. precious metals coins
That same law specifies 5 cents or greater.
To Daniel's point... We don't have agreements with foreign nations to exercise our laws. So, we cannot go to China and arrest a counterfeiting mint.
To Daniel's point... We don't have agreements with foreign nations to exercise our laws. So, we cannot go to China and arrest a counterfeiting mint.
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Re: ICTA responds to U.S. Mint’s position on counterfeit U.S. precious metals coins
Exactly Mark, but my opinion was based on something like an international task for just for that purpose and that it's not being done.
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