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 Replies: 36 / Views: 3,382 |
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Pillar of the Community
United States
1804 Posts |
If I acquire an American coin from a bank... and then sell it ... maybe for a good sum of money..  and it turns out to be a China counterfeit...  Might I be in any trouble or liability?  |
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Pillar of the Community
United States
901 Posts |
If a lawyer can make money, or government offical make notice; yes. This is America, where the government spends your money, and looks for ways money is to be made. What's legal and what's right keep getting more seperate as time goes on  |
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Pillar of the Community
United States
1247 Posts |
If you get a coin at a bank and sell it and the buyer finds out it is counterfeit and can prove it.. like ebay pictures etc.. You can be held criminally responsible if the Secret Service goes after to you. It doesn't matter where you got the coin, the chain of custody stops with you. |
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Pillar of the Community
 United States
1804 Posts |
Quote:If you get a coin at a bank and sell it and the buyer finds out it is counterfeit and can prove it.. like ebay pictures etc.. You can be held criminally responsible if the Secret Service goes after to you. It doesn't matter where you got the coin, the chain of custody stops with you. Thanks for the info.   I do get stuff from banks ... don't we all?  oh well |
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Moderator
 Australia
16810 Posts |
If you can prove you got that specific coin from a bank - and a bank teller is happy to testify they gave that specific coin to you - they might pass you up to seek a better target elsewhere. After all, their primary goal is to find the source of counterfeits and stop them.
If you're getting your Ikes in bulk, from different sources, it might be a little harder to prove the provenance of a particular coin.
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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Pillar of the Community
United States
1247 Posts |
I stated what I did, because I am assuming he can't prove where exactly he got the coin. Now, it is unlikely that the SS would go after someone for a small amount. Now if the genuine coin is worth thousands of dollars, and the buyer gets upset, then the SS might ask questions. Although the OLD coin market is abound with fakes, the government isn't really interested in chasing them, they are spending the majority of their time going after counterfeiters of modern currency. (including the Chinese 1$ ASE's that are showing up.) |
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Pillar of the Community
United States
2651 Posts |
If you knowingly pass a counterfeit coin/currency you are committing a crime. Whether you will be charged depends on many factors.
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Pillar of the Community
Canada
3692 Posts |
How would a bank confirm a specific coin given to you? Even a banknote: they don't write down the serial numbers as they hand it to you, neither at ATMs.
Retailers wouldn't care. If I spotted a counterfeit as it was being handed to me they would probably apologize, give me a replacement, then try to pass off the coin ASAP.
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Pillar of the Community
United States
7616 Posts |
In most cases, you will given an opportunity to explain your actions and make restitution to your victim. If you fail to do that, there is a very good chance you will face the justice system. Once it gets going in the court system things can go downhill real fast.
So, to answer your questions.... Yes, you can get in trouble and yes, you do have liability.
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Pillar of the Community
Canada
2632 Posts |
Good question
Intent is everything, if you mistakenly did that only one time not knowing - then so be it, accident.
But if you intentionally do it especially often - then your in deep doodoo
There has to be thousands of fake coins exchanging hands every day and how many people notice or really care.
Just dont do it if you suspect anything about the coin or post it here for analysis.
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Pillar of the Community
United States
1300 Posts |
Heres a question...did you know the coin was counterfeit? Then why would you not tell the bank it is as opposed to sell it. Counterfeit is counterfeit. Not the best scenario ever best case scenario dont get involved with counterfeits if the coin shows a copy stamp on it then its a different scenario you can sell that coin for what it is a copy,i myself dont even like the fact that those exist.. Stay away from it dont get involved they put people into prison for this and thats the simple fact this is not good for anyone... I find it disturbing in nature
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Valued Member
United States
113 Posts |
Everyone should be responsable for what they sell, unfortunatly there are a lot of people out there who either don't care or don't know that they are selling fakes. I've found that experience and ethics are both incredibly important when buying and selling coins. If you make a honest effort to educate yourself on spotting fakes and guarantee the coins you're selling, you should be fine. Most counterfeits are easily identified, once you know what to look for.
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Pillar of the Community
United States
1804 Posts |
Quote:
If you're getting your Ikes in bulk, from different sources, it might be a little harder to prove the provenance of a particular coin. You are so correct |
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Pillar of the Community
United States
1804 Posts |
Quote:
Heres a question...did you know the coin was counterfeit? Then why would you not tell the bank it is as opposed to sell it. Counterfeit is counterfeit. Not the best scenario ever best case scenario dont get involved with counterfeits if the coin shows a copy stamp on it then its a different scenario you can sell that coin for what it is a copy,i myself dont even like the fact that those exist.. Stay away from it dont get involved they put people into prison for this and thats the simple fact this is not good for anyone... I find it disturbing in nature My post was about coin hunters ... in general. Me, you, everybody. Personally, I have never (knowingly) bought or sold a counterfeit.  I too do not "like" copies!  But if anyone gets a bulk purchase at a bank, well I just guess you get a little of what ever is in common circulation.  |
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Pillar of the Community
United States
1804 Posts |
Pennyman Quote:
Good question
Intent is everything, if you mistakenly did that only one time not knowing - then so be it, accident.
But if you intentionally do it especially often - then your in deep doodoo
There has to be thousands of fake coins exchanging hands every day and how many people notice or really care.
Just dont do it if you suspect anything about the coin or post it here for analysis. For sure!  |
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Pillar of the Community
United States
1804 Posts |
Jayman Quote:
If you knowingly pass a counterfeit coin/currency you are committing a crime. Whether you will be charged depends on many factors. So true ... So true. |
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Replies: 36 / Views: 3,382 |
Posted 02/16/2014 2:12 pm
