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Gold Maple Leaf among most counterfeited bullion coins – Canadian Coin News

A recent surveil conducted by the U.S.-based Anti-Counterfeiting Task Force ( ACTF ) indicates the gold maple flick ( GML ) produced by the Royal Canadian Mint is among the most frequently counterfeited gold bullion coins .
closely 25 per penny of U.S. mint dealer survey respondents reported customers seeking to sell them counterfeit GMLs compared to 43.3 per penny seeking to sell them counterfeit flatware american Eagle bullion coins and 41.2 per penny trying to sell them fake gold american english Eagle bullion coins. other frequently encountered talk through one’s hat gold bullion coins include the south african aureate Krugerrand at 30.4 per penny and the Mexican gold 50 dominican peso at 20.1 per cent .
“ The survey results are not surprising to us, ” said Beth Deisher, the Industry Council for Tangible Assets ( ICTA ) director of anti-counterfeiting. “ Counterfeiters – primarily from China – target the most popular products, normally market leaders with the highest brand designation. ”

RCM RESPONSE

What the dealers are reporting in this survey are attempts to sell counterfeit product ; however, “ counterfeiters are not much successful in trying to fool dealers, and we like to think our efforts have helped to educate the market, ” said Royal Canadian Mint media relations director Alex Reeves, who added the Crown corporation “ works close with the ICTA and spends tens of thousands of dollars on educate dealers in the U.S. to identify fakes. ”

“ The view conducted by the Anti-Counterfeiting Task Force strongly suggests that our efforts are paying off, ” he added, emphasizing the Mint was “ far ahead of its competitors ” in identifying the counterfeiting drift and remains “ ever vigilant to trends that affect our valued customers. ”
After first adding visible security system features to its GML and eloquent maple leaf bullion coins, the Mint launched its bullion digital non-destructive activation ( DNA ) anti-counterfeiting engineering in 2015. With the help of a counter-top device distributed to authorize dealers, genuine GML and SML bullion coins can now be identified in seconds .

The Mint besides monitors on-line sales for reproductions, Reeves said .
“ We have the most dependable bullion coin in the universe based on visible and inconspicuous Bullion DNA security features, supported by over 150 active participants in the Bullion DNA Dealer plan. Our persistent focus on merchandise security is a samara reason we continue to deliver industry leading market-share for both our gold and silver coin bullion programs, ” said Royal canadian Mint Vice-President of Sales Chris Carkner .

ILLEGAL TO POSSESS, BUY OR SELL

Deisher cited survey results in two other categories, including bullion bars and collectible classical U.S. coins. PAMP ( Suisse ) gold ingots and bars are the cosmopolitan market leader ; 57.8 per penny of survey respondents reported customers seeking to sell them counterfeit gold PAMP bars and 36.1 per cent reported encountering fakes of Australia ’ s Perth Mint gold bars.

She noted it ’ s illegal to possess, buy or sell counterfeits and added most dealers refuse to knowingly buy fakes .
“ Dealers tell us they often encounter people who have unwittingly purchased fudge coins or bars via the internet or from flea markets thinking they have gotten a bargain because the price they paid is a divide of the market value of the real number items. When they attempt to sell their ‘ bargains ’ to dealers they learn there is no Santa Claus in numismatics. Their fakes are despicable. ”
According to the sketch, 92.4 per penny of the dealer respondents said they rely on their personal cognition of coins and bars to identify fakes and 60.6 per cent use forge detecting equipment to verify their suspicions .
Some 41.4 percentage report having completed counterfeit detection classes with the remainder having attended seminars or educational presentations detailing deceptive counterfeits in the market .
More than 80 per penny of the surveil participants noted an addition in the number of counterfeit coins and bars entering the marketplace during the past five years. Had the counterfeits they encountered in the by year been genuine, more than 50 per cent of the respondents placed the value between $ 5,000 and $ 300,000 ; 28.8 per penny estimated the rate between $ 1,000 and $ 5,000 ; and 8.4 per penny estimated the measure at more than $ 300,000.

Read more: Acorn Plains Way

More than 68 per penny of respondents reported encountering counterfeits sporadically over weeks and months while 9.2 per cent reported being offered them two to three times a week and 1.9 per cent being offered them daily .
Deisher emphasized buyers can best protect themselves from counterfeits by purchasing from knowledgeable, reputable dealers and directly from the government or private Mints that manufacture the coins and bars .
The on-line sketch of dealer members of the ICTA, the Professional Numismatist Guild and the American Numismatic Association was developed and conducted this June by the research work group of ICTA ’ s ACTF .

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