They're back.
Now it's "Genuine" 9/11 World Trade Center FIFTH Anniversary coins, featuring a spiffy pop-up of the twin towers which it claims were made with silver from a bank vault found under tons of debris at ground zero. They also claim that $5 of the purchase price of each coin goes to charity.
Remember when the National Collector's Mint tried this same "commemorative" scam before in 2004 and were shut down by New York Attorney General Eliot Spitzer?
Well, now national collector's mint is at it again, selling yet another twin towers "memorial" coin!
Interestingly enough, an attempt to boost their image by a hefty contribution to the WTC Memorial Foundation this year was rejected by the organization on moral grounds. The donation by National Collector's Mint was meant to boost sales of their new "Freedom Tower Silver Dollar."
WTC Memorial Foundation president and CEO Joseph Daniels said of rejecting the donation, "We weren't comfortable because of the history. They were investigated by the Attorney General's Office and ended up settling."
Indeed.
The National Collector's Mint claimed that each of their Silver Dollars were made from silver that was found in the "remains" at Ground Zero.
Like so many others, I lost over three hundred dollars ($300) in coins I purchased but never received from this company.
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"It is a shameless attempt to profit from a national tragedy, " Spitzer said. "This product has been promoted with claims that are false, misleading or unsubstantiated." Spitzer has filed a civil suit in state Supreme Court.
Tom Conway, head of the state's Consumer Frauds and Protection Bureau, said an investigation into the company began with consumer complaints and a referral from the U.S. Mint.
The U.S. Mint offered this statement: "The United States Mint wants to alert consumers and the public about a new product being marketed by a private firm — the National Collector's Mint, Inc. The National Collector's Mint, Inc. Advertises this product as a "Freedom Tower Silver Dollar" originating from the Commonwealth of the Northern Mariana Islands and claims that it is a "legally authorized government issue" coin."
The New York Supreme Court issued a temporary restraining order against the National Collector's Mint, Inc., immediately halting the advertisement and sale of the "Freedom Tower Silver Dollar." Consumers who have questions or concerns about the "Freedom Tower Silver Dollar" can contact the New York Attorney General's Office.
State Supreme Court judge Justice Joseph R. Cannizzaro ruled in Albany that the National Collector's Mint Inc. Committed fraud, false advertising and deceptive business by marketing its "2004 Freedom Tower Silver Dollar" commemorating Sept. 11, as a "legally authorized government issue silver dollar" made with pure silver from ground zero.
Attorney General Eliot Spitzer has said the coin, which the company said had a value of $49, was worth about a cent and a half. The judge has yet to decide on penalties.
A class action lawsuit has been filed against National Collector's Mint Inc., the manufacturer of the so-called Freedom Coin.
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