Congressmen Press the U.S Mint for Action on Counterfeit Gold and Silver Coins

Congressmen Alex Mooney (R-WV) and Frank Lucas (R-OK) today delivered a formal letter to the United States Mint and Secret Service, urging aggressive action on the growing problem of high-quality counterfeits of U.S. precious metals coins entering the country from China and elsewhere.

“Enclosed herewith is a 1995 1 oz. Gold American Eagle coin, carrying a face value $50 and ostensibly minted by the U.S. Mint,” Mooney and Lucas wrote.  “You are free to keep it, as it’s a worthless tungsten fake.”

As members of the House Financial Services subcommittee which oversees the U.S. Mint, Congressmen Mooney and Lucas are seeking information from the government institution responsible for the production of coinage for the United States, such as “the nature and quantity of complaints – and resulting investigations – regarding counterfeit U.S. gold, silver, and platinum coins within the last two years,” and “what anti-counterfeiting programs, if any, are in place to protect the integrity of U.S. coins minted specifically of gold, silver, platinum, and palladium.”

The congressmen request information as to whether, and to what extent, the U.S. Mint has taken proactive steps to protect the integrity of America’s minted coins, including reviewing and implementing the anti-counterfeiting measures already put in place certain foreign government and private mints.

And they seek clarification regarding the “expected roles of the Secret Service, U.S. Customs and Border Enforcement, and other federal law enforcement agencies in detecting and investigating counterfeits of U.S. coins minted of precious metals and the extent of their coordination with the U.S. Mint.”

The congressmen also raised concerns about a Secret Service decision not to investigate the origin of a counterfeit batch of Gold American Eagle coins when the matter was recently brought to its attention.

“We commend Representative Mooney and Representative Lucas for their actions in defending sound money and for beginning to exercise Congressional oversight duties in accordance with Article I, Section 8, Clause 5 of the U.S. Constitution,” said Stefan Gleason, director of the Sound Money Defense League.



“We look forward to a meaningful explanation from the U.S. Mint and the Secret Service for what appears to be a lackadaisical attitude toward protecting the only constitutional currency that is currently even produced by the federal government,” said Gleason.

A full copy of the congressional letter can be found here.

The U.S. Mint produces American Gold Eagles, Silver Eagles, and other precious metals coins.


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7 Comments on "Congressmen Press the U.S Mint for Action on Counterfeit Gold and Silver Coins"

  1. This has been going on for years. At least 6 years ago a friend bought some gold bullion that turned out to be tungsten.

    • 6 years ago, huh?? That’s right when that turned out to be another debunked urban legend that NEVER happened as I recall. Anyway, let’s say for kicks & giggles that it did. That’s what he gets for buying his “gold” in the nearest Costco parking lot from an Asian dude named Tony. He should have purchased his gold from a reputable dealer and that would have never happened. Anyway 6 years ago and I’m calling that BS that NEVER happened…

    • sotiredoflies13 | October 29, 2017 at 10:52 am | Reply

      I am curious, were your friends “fake” coins imprinted “US Mint”?

      Also, there has been huge amounts of $$50’s,$100’s, even $20 US paper bills printed and passed, in the past and still happening.

      Is there really any 100% safe way to invest?

  2. It’s just more of their anti-precious metals bias. Which I take as another sign to keep right on stacking. It’s fiat for everyday transactions and more PM’s out of the banking system for “long term savings.”

  3. John C Carleton | October 30, 2017 at 4:29 am | Reply

    Now, what about the big tungsten gold plated bars which most likely came from the USA during pap Bush’s tenure?

  4. I wouldn’t put it past the Fed to issue their own ‘fake’ coins, it would put a brake on mass exodus to gold as the dollar collapses. They did this some years ago with the ‘fake super note’, America are the only nation capable of producing it and the only nation capable of detecting it. The fake $100 notes stopped foreign companies sending them back to USA, in case they were classified fake and confiscated. Part 5 > http://www.marketskeptics.com/2011/06/the-esf-and-its-history.html

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