US Authority said they're investigating a fake September 11 (9/11) coin minted by a local mint. Two Democratic New York congressmen, Rep. Jerrold Nadler and Sen. Charles Schumer, have accused the National Collector's Mint in Port Chester, New York, of selling bogus September 11 coins in an attempt to exploit the tragedy for profit. The coins sell by National Collector's Mint's for $29.95 and the company says they are considered legal tender in the African country of Liberia. Schumer further criticized the company for diverting funds from official September 11 commemorative coins that Congress sanctioned last year to benefit The National September 11 Memorial & Museum under construction at Ground Zero.
"With the tenth anniversary of 9/11 approaching, we should unfortunately expect more scams, as criminals and snake oil salesmen seek to profit from the deep emotional connection that millions of Americans have to that terrible tragedy," Nadler said.
National Collector's Mint's website claims designs of the Twin Towers and U.S.S. New York on the coins are made from "pure silver actually recovered from the vaults beneath the ashes of Ground Zero." It says the coins are government sanctioned and "minted under an exclusive license authorizing the official striking of the official Justice Department FBI insignia."
Schumer further criticized the company for diverting funds from official September 11 commemorative coins that Congress sanctioned last year to benefit The National September 11 Memorial & Museum under construction at Ground Zero.
National Collector's Mint President Avram Freedberg issued a statement defending his company's coins and adding that the company had donated more than $2 million from these commemorative sales to a handful of September 11 charities.
"We believe that in America anyone has the right to sell commemoratives," he said. "The purpose of coins, medallions, ingots, etc., is often specifically to remember happy events or tragedies."
The Better Business Bureau has given the company its lowest rating of F, with close to 100 consumer complaints about the company filed in the past three years.
National Collector's Mint's website claims designs of the Twin Towers and U.S.S. New York on the coins are made from "pure silver actually recovered from the vaults beneath the ashes of Ground Zero." It says the coins are government sanctioned and "minted under an exclusive license authorizing the official striking of the official Justice Department FBI insignia."
Schumer further criticized the company for diverting funds from official September 11 commemorative coins that Congress sanctioned last year to benefit The National September 11 Memorial & Museum under construction at Ground Zero.
National Collector's Mint President Avram Freedberg issued a statement defending his company's coins and adding that the company had donated more than $2 million from these commemorative sales to a handful of September 11 charities.
"We believe that in America anyone has the right to sell commemoratives," he said. "The purpose of coins, medallions, ingots, etc., is often specifically to remember happy events or tragedies."
The Better Business Bureau has given the company its lowest rating of F, with close to 100 consumer complaints about the company filed in the past three years.
Source: Reuters.
You can read more about Official First Responders 10th Anniversary World Trade Center Commemorative Clad in .999 pure silver actually recovered from Ground Zero at National Collector's Mint's website.
