Coin Community Family of Web Sites
YourCoinBox is offering a stress free way to appraise and sell your coins from the comfort of your home. Our goal is to create an ultra transparent and no pressure experience for finding out what your coins are worth and what to do with them.
Like us on Facebook! Subscribe to our Youtube Channel! Check out our Twitter! Check out our Pinterest!
Save Password
Forgot your Password?

Welcome Guest! Need help? Got a question? Inherit some coins?
Our coin forum is completely free! Register Now!

Perhaps Similar? When Euros First Were Minted With Duo Metal And Inserts

To participate in the forum you must log in or register.
Author Previous TopicReplies: 2 / Views: 275Next Topic  
Pillar of the Community
1411 Posts
 Posted 06/19/2021  11:29 am Show Profile   Check 47P7's eBay Listings Bookmark this topic Add 47P7 to your friends list Get a Link to this Message was many years ago.
Preamble... please read to the end...then smile:

A German customs officer based in Frankfurt Airport (FRA) dated a Flight Attendant also based at FRA.
The lady did regular China Flights.
The German federal bank is responsible for all currency and coins in Germany. It is also their responsibility to collect used coins back from circulation and replace these with new coins.
Collected coins were THEN devalued by snapping the Euro-insert inner pug out, and collecting the ring and insert separately until they had tons of them. Then they sold these separately to different scrap dealers across Germany and the EU. tons or inserts and rings.
the scrap dealers sold their scrap to Chinese buyers. It was all collected at some port city and all scrap was shipped to China to be melted and made into Chinese stuff of whatever..
Some smart Chinese person recognized a business here. They started to re-assemble the two coin parts in to perfect Euros
Nodody could ever tell the difference. So they got some attractive Chinese men and Ladies to aquaint with European Flight attendants. and it worked. the FA's took a few hundred each time back to Europe and got paid a nice amount.
As a rule, FA's and Pilots are less, or close to never scrutinized than regular travelers at customs. One day, the first-mentioned FA arrived back at FRA with a bit heavier bag. A friend of her customs boyfriend recognized her and helped her with her was unusually heavy. Questions were asked... and that is how the whole re-manufacturing -smuggle-euros ring was detected.
By sheer co-incident.(a friendly and helpful customs agent)
Now came the Legal question: what to charge everyone with? Smuggling? forging? or ?
As a result and missing laws for that, there were no charges laid. The import of legal currency under a certain amount does not have to be declared, regardless of coins or paper. Although confiscated at the time, The reassembled Euros were not declared to be forged currency by the courts and the Federal bank and no Forgery took place.
However, the import of re-assembled Euros was then effectively stopped.
and from now on the Fderal bank started to waffle their used coins
do we perhaps have a similar situation here, maybe in just another form?
Pillar of the Community
Learn More...
8467 Posts
 Posted 06/19/2021  1:13 pm  Show Profile   Bookmark this reply Add DBM to your friends list Get a Link to this Reply
Not even close to similar.
But an interesting numismatic story nonetheless.
"Dipping" is not considered cleaning...
-from PCGS website
Edited by DBM
06/19/2021 1:14 pm
New Member
49 Posts
 Posted 06/20/2021  02:59 am  Show Profile   Bookmark this reply Add Gebs to your friends list Get a Link to this Reply
That is great story never heard it
  Previous TopicReplies: 2 / Views: 275Next Topic  
To participate in the forum you must log in or register.

Disclaimer: While a tremendous amount of effort goes into ensuring the accuracy of the information contained in this site, Coin Community assumes no liability for errors. Copyright 2005 - 2021 Coin Community Family- all rights reserved worldwide. Use of any images or content on this website without prior written permission of Coin Community or the original lender is strictly prohibited.
Contact Us  |  Advertise Here  |  Privacy Policy / Terms of Use

Coin Community Forum © 2005 - 2021 Coin Community Forums
It took 0.48 seconds to rattle this change. Powered By: Snitz Forums 2000 Version 3.4.05