Video News: How Chinese Counterfeit Coins are Traded
As reported last week, The Gold & Silver PAC held a reception on March 31st honoring Congressman Lamar Smith Republican of 21st Congressional District of Texas. Mr Lamar is Chairman of the House Judiciary Committee, Member of the House Homeland Security Committee and Member of the House Science Committee. Although Congressman Lamar was unable to attend due to a vote in the congress, his Cheif of Staff, Sean McLaughlin stood in to give those gathered a report on the Legislative Efforts to Stop Chinese Counterfeiting and Repeal 1099 Requirements.
Also at the meeting, David Hall, CEO of Collectors Universe/PCGS, briefly outlined how Chinese Counterfeit coins in fake PCGS holders are traded. He used the example of Burnsville Coin Company (dealer Barry Skog) who was sued by PCGS for selling counterfeit PCGS PCGS holders that were made to order from Chinese manufacturers. Skog never formally responded to the charges but rather sent a handwritten denial to the judge which was rejected as improper. Collectors Universe, based in Santa Ana, Calif., recently won a default judgment. Skog did not respond to a request for comment.
Copyright © April, 2011