Welcome to Coin Fraud Help

My first time to use a coin cleaning solution (dip), I ruined an uncirculated set of steel cents I had just purchased.

I wanted my attorney dad to file universal coin lawsuits against the cleaning solution company and the dealer who sold me the dip.

He helped me process what had happened and made me realize I had to tak e responsibility for my own poor choices and not file coin lawsuits universally.

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Here are some pointers from noted universal coin and bullion expert Mike Fuljenz of Beaumont, Texas.  Do you need to sell your jewelry, rare coins, gold, silver or platinum for a fair price not a scam price?  He recently in 2009 won three national awards from the Numismatic Literary Guild.  The NLG is the leading American organization of writers, editors, publishers, lawyers and dealers who communicate in various media to the young and elderly alike on coins, paper money, bullion, scams, frauds and other universal money related topics.

First, make sure the dealers you are considering selling to are long time accredited companies with the Better Business Bureau, highly rated and pledge to arbitrate disputes.  This may alleviate the need for lawsuits but still reserve your rights to not use this process if a dispute arises.

Second, ask for a list of the company’s awards and memberships so you can evaluate if they have garnered the respect over the years reserved for the experts.

Third, Mr. Fuljenz recommends always getting an offer from the dealer that sold you the product as often they will pay the most if they need the coins.

Fourth, get offers from 1st rate coin and bullion dealers who specialize, are a market maker, in the products you have.

Fifth, always ask a dealer if any of your coins should be authenticated and graded by Professional Coin Grading Service (PCGS) or Numismatic Guaranty Corporation (NGC) before you sell them.  Reputable coin businesses typically advise sellers of the risk/reward benefits of this process.

Sixth, be especially concerned about late night ads to buy coins, gold and platinum and jewelry in various media.  Also get first and second opinions before selling to hotel buyers or buying parties held locally.  Many experts have found prices offered in these venues to be much less than recognized national experts would offer.

Finally, to help avoid coin scams or frauds always make a list and/or photograph valuable coins you send or leave with others and make absolutely sure your coins are insured if you send them to a dealer or leave them with anyone.


Check out Mike Fuljenz 2009 award winning report on rare coins and bullion as seen on Fox 4 KBTV.

According to numismatist Mike Fuljenz, the confiscation of gold, from 1934 to 1971 in America, gold coins and bullion were illegal to own, resulting in the melting of many rare gold and silver coins.  This caused many rare coins to soar in value over time.  For some type coins and low mintage years, there are very few surviving specimens available today, he said.  This rarity is documented by the “population reports” by the Professional Coin Grading Service (PCGS) and Numismatic Guaranty Corp. (NGC)

The gold standard was nearly universal a century ago, from the 1880s through 1914.  It’s hard to imagine in this modern world, but American and European government leaders were all required to authenticate the quality of their coins and bullion bars in storage, to back their currencies in case of a run on the Treasury.  Consumers owned gold in the form of jewelry, coin or bullion bars, which were authenticated by a recognized brand name, or verified at their local assay office, for a fixed value.  Mike Fuljenz points out “Rare coins fetched a numismatic premium, depending on their grades, popularity and rarity.”

During World War I, some foreign governments inflated their currencies so much that market forces drove prices way up or created commodity shortages.  National policies apparently trumped monetary integrity in war times, so that consumer rights to honest money were abrogated.  Some foreign government’s hidden scam was in fact a fraud on the public, forcing them to accept paper money, unbacked by precious metals.  As a result, some currencies even became worthless.


Mike Fuljenz is a skilled coin and bullion expert and a 2009 award-winning author. He provides inestimable experience and knowledge of all things numismatic.