Universal coin and bullion expert Mike Fuljenz of Beaumont, Texas warns young and elderly rare coin buyers on the universal threat of coin scams and frauds involving Chinese counterfeiting of popular American silver coins. The universally recognized two most popular silver coin designs in American history are the Morgan Dollar and the Walking Liberty Half Dollar. Mike Fuljenz notes, “The first silver coins I collected were Morgan Dollars my elderly grandfather gave me for making good grades!” The coin is called a Morgan Dollar after its designer George Morgan. Mr. Fuljenz further points out, “The Walking Liberty Half Dollar design of Adolph Weinman was so revered the United States Mint used it for its popular bullion Silver Eagle coin program that began in 1986 and continues today.

Mr. Fuljenz warned “All coin collectors especially the young and the elderly need to be aware of the threat posed by Chinese counterfeiting of rare silver coins including Morgan dollars entering the market.” Be especially careful when buying coins at flea markets from local street vendors, local auctions and any other auction venue not run by national coin and bullion experts. Exposure to these coin scams and frauds can be minimized by dealing with companies or businesses that are accredited by the Better Business Bureau, highly rated and pledge to arbitrate. This may minimize the need for lawyers and lawsuits in dispute resolution issues but still reserve your rights to explore all options available.

Mike Fuljenz was formerly a grader, authenticator and seminar instructor for the American Numismatic Association. Mr. Fuljenz is also an ANA Presidential Service Award recipient.

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