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V13 2010 INDEX       E-SYLUM ARCHIVE

The E-Sylum: Volume 13, Number 20, May 16, 2010, Article 29

HARVEY STACK: ACTION NEEDED AGAINST COIN FAKES AND REPRODUCTIONS

Harvey Stack copied me on a letter to the editor of Coin World, and followed up with a separate note intended for E-Sylum readers. I edited these into a single item focusing on his main point - that it's time for collectors to lobby the U.S. government for legislative action to combat the counterfeit and reproduction coins flooding our hobby. -Editor

Harvey Stack I just received my copy of the Coin World, April 26 edition, and I was proud to be part of the special front page story about the counterfeit display at the Federal Reserve. I read with great interest the complete story about counterfeiting and how our government agencies can react. At the present moment, the counterfeiters are at it again, making $100 Bills which are undermining U.S. currency.

It is no different with the counterfeit coins that are now coming from China. They are HURTING those who obtain them and dilute the rarity and desirability of COLLECTIBLES like the coins that they are now falsifying. Yet our government agencies are not enforcing their right to restrict them from coming into our country.

WHO IS THERE TO PROTECT THE INNOCENT COLLECTOR? Why this passive approach to the problem? Is it the lack of knowledge - that THEY don't know the difference between GOOD or BAD, or is the collector deemed not important?

This matter is a lot worse than people think. The flooding of false coins to the public by the eBay advertisers and promoters is flooding the market with FAKES and watering down the importance of original coins.

This type of problem occurred after World War II, in the late 1950's and again in the early 1970's, and regulations and laws were enacted to try to protect the integrity of the original issues.

I must emphasize that should the integrity be violated or abused with impunity then Coin Collecting as we know it will go down as did the other collectibles have, when the importance of ORIGINAL is diminished by counterfeiters and reproducers.

Readers of The E-Sylum and other collectible publications should be continuously made aware of the dangers around them. E-Sylumites have a high degree of respect for the hobby, and it is appropriate for them to be part of a support group that makes the dangers that are occurring before them evident to all they know.

For many years of my life I attempted to work towards the advancement of the hobby. The present situation is just another attempt by profiteers to make money while destroying the hobby we all love.

Sorry to sound so strong on this subject, but the hobby and its collectors were always good to me, and I try to show my appreciation by championing causes such as this.

Thanks, Harvey. It certainly seems like time for the Hobby Protection Act to be updated for the 21st century. -Editor

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Wayne Homren, Editor

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