The FBI reminds readers to always research online sellers before buying coins and precious metals online. If you decide to purchase outside this venue, ensure that the coins are tested by a certified organization, before making a purchase.

Protect your wallet and your personal data by purchasing from reputable, registered coin dealers. Do not let online scammers rob you of your investment. Many victims find purchasing online an easy method to make investments, as they can easily find what they are looking for, pay cheaper prices and have their investments delivered right to their door. Scammers capitalized on the financial uncertainty and nation-wide coin shortage brought on by the COVID-19 pandemic to take advantage of amateur investors online. In 2020, CBP seized over $1.64 million in counterfeit cash and coins at Chicago O’Hare International Airport. Customs and Border Protection (CBP) officers at Chicago’s international mail facility seized 279 shipments from China containing counterfeit coins and currency.

An increasing number of counterfeit coins are being seized at US ports-of-entry. Online estimates reveal that consumers spend millions of dollars buying valuable or rare coins, but most receive near-worthless foreign-made counterfeits. Online advertisements used by scammers claim the coins are authentic however, consumers are receiving fake coins and precious metals. There are three types of counterfeit coins: transactional coins (quarters, dimes, etc.), numismatics (high value collectables), and bullion (precious metals). The FBI and the Department of Treasury are warning the public that counterfeit coins are being sold on various online auction, social media and retail websites, targeting investors and collectors. The FBI Warns the Public of Counterfeit Coin Scams

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