NGC Teams with ANA, PNG, ICTA and NCIC to Fight Counterfeit Coins
SARASOTA, Fla. (March 5, 2018) — Numismatic Guaranty Corporation® (NGC®) is proud to be working with the American Numismatic Association (ANA), the Professional Numismatists Guild (PNG), the Industry Council for Tangible Assets (ICTA), and the Numismatic Crime Information Center (NCIC) to combat counterfeit coins.
Last year, NGC launched a comprehensive Counterfeit Detection portal, which can be accessed for free at NGCcoin.com/counterfeit. It features the 50 US coins, 25 Chinese coins and 25 world collector coins most commonly targeted by counterfeiters, according to submissions to NGC. Each of these coins has on its own page comprehensive information including high-resolution images, the type of counterfeits typically seen, detection tips and other helpful details.
The NGC Counterfeit Detection portal is designed to help collectors, dealers and others identify counterfeit and altered coins before they purchase them, stopping these spurious coins from entering the numismatic marketplace.
NGC President and Finalizer Rick Montgomery, one of the world’s foremost coin authenticators, oversaw the development of the resource. Many members of the NGC grading team also provided research and insights. NGC’s graders have identified more than 100,000 counterfeit and altered coins since 1987.
NGC is honored to work with the ANA, PNG, ICTA and NCIC, professional organizations that share NGC’s commitment to upholding the integrity of the coin collecting hobby. This collaboration helps the organizations to share information and reach a wider range of people and companies.
NGC has worked with these industry-leading organizations for a number of years on educational and other initiatives related to counterfeit coins. Among these efforts:
- NGC provides extensive counterfeit detection content for the ANA’s The Numismatist, which is sent monthly to that organization’s 25,000 members. NGC also directs collectors and dealers who visit its Counterfeit Detection resource to purchase coins from ANA member dealers, who have agreed to abide by a strict code of ethics.
- NGC conducts counterfeit detection seminars for PNG member dealers at various events around the country. NGC also directs the public to purchase coins from PNG member dealers. A self-regulating trade organization, the PNG holds its member dealers to high standards of ethics and professionalism.
- NGC Vice President and Finalizer Scott Schechter serves on the Steering Committee of ICTA’s Anti-Counterfeiting Task Force, as well as the Packaging Security Work Group. Formed in 2017, the task force’s mission is to provide expertise and mobilize law enforcement in the fight against counterfeiters.
- Founded in 1987, NCIC is committed to education, prevention and investigation of numismatic crimes, including counterfeiting. NGC and NCIC are working together to find the most effective ways that the organizations can collaborate to combat counterfeits.
NGC is the official grading service of the ANA and PNG.
Specialists and generalists alike can benefit from the information available in the free NGC Counterfeit Detection portal. Learn more at NGCcoin.com/counterfeit.
About the American Numismatic Association
The American Numismatic Association is a congressionally chartered, nonprofit educational organization dedicated to encouraging the study and collection of coins and related items. The ANA helps its 25,000 members and the public discover and explore the world of money through its array of instructional and outreach programs, as well as its museum, library, publications and conventions. Learn more at www.money.org
About the Professional Numismatists Guild
Founded in 1955, the Professional Numismatists Guild is a nonprofit organization composed of many of the country’s top rare coin and paper money experts who undergo a background check, must adhere to a strict code of ethics in the buying and selling of numismatic items and who guarantee the authenticity of the numismatic merchandise they sell. The PNG mission statement is: Ensuring integrity, instilling confidence, and promoting professionalism for the benefit of all numismatic collectors and professionals. Learn more at www.pngdealers.org
About the Industry Council for Tangible Assets
The Industry Council for Tangible Assets (ICTA) was incorporated in 1983 in response to federal legislation that removed tangible assets, such as rare coins, from individual retirement accounts (IRAs). ICTA is the watchdog for the industry on legislative and regulatory affairs. The Industry Council for Tangible Assets formed the Anti-Counterfeiting Task Force in January 2017. ACTF’s mission is to educate law enforcement authorities and policy makers about the rising threat of counterfeiting, mobilize law enforcement to attack counterfeiters where they are most vulnerable, and provide expertise and other resources in the investigation and prosecution of counterfeiters and those involved at all levels of their distribution networks. ACTF’s mission also includes creating awareness of counterfeits and educating the collecting public about the harmful effects of counterfeits in the marketplace. Learn more at ictaonline.org.
About the Numismatic Crime Information Center
The mission of the Numismatic Crime Information Center is to serve as a national and international resource for collectors, dealers and law enforcement in the education, prevention and investigation of crimes involving coins, paper money, tokens and related numismatic items. Learn more at www.numismaticcrimes.org.
About Numismatic Guaranty Corporation® (NGC®)
NGC, the world’s largest and most respected third-party coin grading service, was founded in 1987. From the beginning, NGC has committed itself to developing an impartial, trusted standard of consistent and accurate grading. To uphold this commitment, NGC’s full-time grading professionals are no longer active in the commercial coin marketplace, and are prohibited from buying or selling coins to ensure impartiality. As NGC has grown to become the leader in third-party grading services, we have maintained a steadfast and uncompromising commitment to this standard. Learn more at NGCcoin.com.
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