COUNTERFEIT COIN SCAM ALERT
Coin collectors and purchasers of rare coins beware, during a recent arrest detectives from the Long Beach Police Department uncovered eighty-eight dollars worth of counterfeit silver dollar coins. Further investigation revealed that these counterfeit silver dollars have been circulating in the China Town area of Los Angeles.
Typically, victims of this scam are approached on the street and shown aged silver dollar coins packaged to simulate expensive collectors coins encased in plastic. The coins resemble eighteenth, nineteenth and twentieth century silver dollar coins, and are sold for as much as twenty-dollars each. Upon closer inspection some of the coins appear to be quarters that have been pressed to the size of a silver dollar, featuring the face of George Washington. Other coins feature the face of the Indian Head nickel.
While the silver eagle dollar appears to be one of the favorites in counterfeited coins all types of coin currency has been targeted and distributed. According to coin experts a simple test for authenticity is to hold a magnet against the coin, if it sticks it is counterfeit.
If you have recently purchased silver dollar coins take a closer look to ensure that you have the real thing. If you have questions regarding this scam please contact Long Beach Police Department Burglary Detective, Paul Hanania at (562) 570-7351.