Glitters, but Not Gold: Fake Gold and Silver Coins ‘Flooding’ Market

by Herb Weisbaum
NBC News

In these uncertain economic times, you don’t have to be a miser to consider putting some of your money into precious metals, and gold and silver coins are an easy way to do that.

But this increased demand for bullion coins — like the American Eagle, South African Krugerrand and Canadian Maple Leaf — has created a golden opportunity for forgers.

Counterfeit coins are “flooding the market at an astonishing rate,” and compromising the investments of collectors, according to the American Numismatic Association (ANA).

“It’s a very serious problem and it’s really scary,” said Rod Gillis, ANA’s education director.

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