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President Trump Fights Back Against China’s Massive Counterfeiting Empire

Trump President GOP republican democrats China counterfeitingThe big news coverage lately has centered on President Donald Trump raising tariffs on China, but that isn’t the whole story. He isn’t just concerned about our trade deficits with China. President Trump is even more concerned about China’s product piracy and counterfeiting. If you ever walk down a street in China as a tourist, you will find merchants selling “Disney” or “Apple” or “Coke” products that have no relation to the brand. These are fake products with a fake company label. Most Americas can see through this sham, but few see through the counterfeit products that the Chinese now ship overseas for sale via the Internet.

Craig Crosby, founder of The Counterfeit Report, has detected millions of knockoffs on eBay and Alibaba and 32,000 counterfeits on Amazon. Apple reported that 90% of all “Apple” products they purchased from Amazon were counterfeit. Counterfeiting is now the largest criminal enterprise in the world, netting $1.7 trillion per year, greater than illicit drugs or human trafficking. The volume is expected to grow to $2.8 trillion and cost 5.4 million jobs by 2022, and China produces 80% of these counterfeits. The Chinese also steal the technology of many U.S. companies doing business there, with impunity – until now. President Trump is the first U.S. leader to strongly strike back.

And Now, China’s Counterfeiting Empire Has Expanded into Fake Coins

The Chinese have now moved in a massive way into counterfeiting gold and silver bullion and rare coins and even circulating coins. The Chinese are producing fake coins by the millions and shipping them all over the world. In the past, some of these fakes were obvious fakes. For instance, they made wrong obverse and reverse pairs for a series.

Lately, however, Chinese forgers have become more skilled. Their favorite target is the most widely-held coin series. For bullion coins, the American Eagle series is their favorite target. According to a new survey by the Anti-Counterfeiting Task Force (ACTF), of which I am a member, nearly half (43.3%) of surveyed coin dealers said that some customers had tried to sell them counterfeit silver American Eagle bullion coins, while 41.2% reported customers trying to sell them fake gold American Eagle coins.

The ACTF has determined that these counterfeits primarily come from China and they “target the most popular products, usually market leaders with the highest brand identification.” When it comes to fake bullion bars and ingots, over half (57.8%) of dealers reported customers trying to sell them fake PAMP (Suisse) gold ingots or bars, using fake versions of the original packaging.

Among collectible classic U.S. coins, Morgan silver dollars were the most frequently counterfeited coins (reported by 71.7% of dealers), followed by Trade dollars (66.6%) and Seated Liberty dollars (48.6%). The most frequently counterfeited rare U.S. gold coins were the $2.50 (42.1%) and $5.00 gold (36.2%).

Some of the easiest “tells” on fake coins is that they have a bogus weight. The biggest giveaway, however, is the asking price. Fake coins are usually sold at very low “bargain” prices. In Asia, fake gold and silver dollars are often peddled at flea markets in Hong Kong and mainland China for $1 to $3 each. Over the Internet, if you see a price that is “too good to be true,” it is indeed too good to be true.

When you buy or sell coins, deal with experts who know how to spot counterfeits and how to validate the quality and grading of the coins they buy and sell. Go to their website and check their credentials.

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Robin

The fact that U.S. Presidents have been ignoring all the dirty tricks that China has been pulling for decades (well, actually, as long as there has been a China-only they didn’t used to do it on a worldwide scale before the past few decades) is very sad. All the world’s “leaders” have been just as hands-off and let China do whatever it pleased to the point where it’s now, basically, a spoiled brat and bully. I totally back our president Trump for his take on the whole China problem and know that he’ll stick to his game plan. The Chinese game plan is to wait him out and hope that he loses the next election and they get a new American pushover again. If that doesn’t work they, the masters of the long game strategy who think nothing of a hundred year plan, will just wait him out until he’s… Read more »

this is

I am glad that Pres. Trump is going after the Chinese for their fake goods as in the past, our past presidents never did anything to stop China from peddling their junk to the US. AT LAST, we have a President with good business sense and who can and will stand up the countries who have taken advantage of America for years. That was why America lost so much money in the past as our presidents then just allowed them to “pull the wool over our eyes” while they just looked the other way, probably out of ignorance or stupidity or both. President Trump always said it’s about time to bring back the money to America, as part of his promises to make America Great again. And the Democrats still can’t or won’t admit to all the good things this president has done for America since his inauguration. They just… Read more »

CharlieSeattle

Communist China is only doing what the past 10 administrations, Congress and corporate America has allowed them to do. Congress (was bribed) to let it happen for decades.

Ban all trade with Communist China and JAIL every US President, Congressman, Senator and corporate C Suite traitor that ever voted or supported Communist China’s rise since Nixon’s visit in 1972.

bill

I have a few free “replica coins” I acquired over a couple years. They are advertised as such, probably to cover their A**es if someone isn’t satisfied with their coin. The coins are also sealed in plastic to “protect its brilliance”. I know these coins are not real, but I’m sure some are being pushed as real to unsuspecting people. I do not expect to get rich by owning these coins over a period of time.

Gary

There is always a lot more to a story than is publicly known. Why then is AMAC calling for an opinion poll on China tariffs in the same publication with this story? I don’t take opinion polls because I’m fully aware that I only know a small part of the story. A small part that has been selectively fed to me by whatever slant the news outlets push. I want to depend on AMAC to publish truth and facts, and I wish AMAC would publish the whole story (or accurate bullet points at least) before asking such a silly question.

Kathleen Huritz

While I don’t understand it all as I am not a business person…..I do know from raising a family that when things get tough and we need to watch our spending…..meaning until we get on our feet the road gets rough but in order to make progress we need to be very wise in what and how we spend and where!!!! I’m sure the Chinese are loaded but with a lot of damaged merchandiser that they have sold to AMERICA it’s disgusting the products they sell us at such a high price….SHAME ON THEM!!! I thought the Chinese were so diligent about anything they make anything that would leave China would have to be perfect?????? Much to us AMERICAN’S surprise they send us garbage and things that contain poison to harm childrennnnnnnnnnnn and that’s suppose to be acceptable to US!!?? They’re as far as I’m concerned pitiful…..and….that’s how communism works… Read more »