This advisory was sent to all ANA members:
New counterfeit operations have sprung up across the world, particularly in China, where relaxed laws protect these operations from liability. The counterfeiters use clever production methods and cutting-edge die-making technology, creating forgeries that are difficult for most collectors to detect. A wide variety of counterfeit objects are being produced, including U.S. and world coins, paper money, errors, and even slabs. With the assistance of unprincipled dealers and investors, this new material is flooding the market at an astonishing rate, compromising the investments of collectors and the integrity of honest dealers.
Below are some links that look at counterfeiting in greater detail, including an eye-opening article in Coin World exploring how new counterfeit material is produced and finds its way into the United States market. In addition, the ANA will be developing a comprehensive online resource guide, offering counterfeit detection courses at Summer Seminar and conventions, and creating an exhibit exploring modern counterfeiting.
An educated numismatic community is the best defense against this widespread problem; we encourage everyone who loves the hobby to increase their awareness.
Following are pictures of a counterfeit $10 Federal Reserve Note that I received in change from the Almo Pools on Fire Road in Egg Harbor Township, NJ. I didn’t notice it until the next day, but confirmed that it was fake because it lacked the printed nylon thread that’s embedded in new FRN’s and also lacked the ghost portrait of Alexander Hamilton that appears on the right edge of the bill when held up to a light. Almo pools promptly took it back for a legit $10 FRN – although the nusimatic geek in me was tempted to keep it 
Click to see larger versions.
Gary Eggleston published an excellent list of Tips on How to Avoid Fraud on Collectible Coins
1. A person should save the online photo of the coin he wants to purchase. Many sellers remove the image and the title of the item once a purchase has been made.
2. A person should get the description and the auction information. It should either be e-mailed to the buyer or sent in writing by mail.
3. If there are suspicions regarding an auction, a person should ask for clarification from to the seller. This will avoid misunderstandings and confusion on the part of the buyer.
4. A person has the right to refuse any transaction where he thinks the price given on the coin is too high. One should be aware of the standard price of the specific coin and compare it to the price that was given during the online transaction.
5. A person can ensure that there will be no fraud by asking the seller, before the auction closes, if there is any available escrow assistance for the bidder.
ACNS Member Gene Loeffler sends this link to a story about a Chinese Coin Counterfeiting Ring:
The photos in this gallery were taken inside a Chinese coin counterfeiting operation. This counterfeiting ring is suspected of putting thousands of fake coins onto the world and U.S. coin markets every month. These striking photos first emerged on certain Web-based coin discussion boards in Europe and the Far East. They came to my attention through a numismatic watchdog/satire blog called Biddle’s Bank. These are the same coins which are being put into counterfeit PCGS and NGC coin holders, although they are most frequently sold raw (non-slabbed.)
The sheer size, scope, and professionalism of this counterfeiting ring will astonish you. Although the working conditions often appear dirty and the minting equipment is old, this is obviously a well-funded enterprise that is run like a legal business in China. There is no law in China against making these “replicas” as long as they are sold as such.
