Fake Chinese coins continue to flood the market and are a major headache to both collectors and investors.
An article published on the “China Gold Coin Net” (中国金币网) reports the success of a joint operation by the Hebei and Zhejiang police in breaking up a counterfeiting ring that specialized in producing fake “Panda” gold and silver coins.
According to the report, the authorities arrested five suspects.
The authorities also confiscated 435 coin sets and 1,108 individual coins.
The fake coins included not only the very popular “Panda” coins, but also gold and silver coins commemorating the “2011 Year of the Rabbit”, as well as gold and silver commemorative coins marking “The 90th Anniversary of the Founding of the Communist Party of China”.
The authorities also confiscated the equipment used in minting the counterfeit coins, along with the coin dies, fake seals, and fake gold and silver bars.