New Presidential $1 Coins are certainly a hit with many collectors, but their acceptance elsewhere since they were first introduced in 2007 has been slow.
Frightening slow... and very similar to previous failed attempts at thrusting dollar coins into the publics hands.
Like the Susan B. Anthony and Sacagawea golden dollars, Presidential $1 coins face a daunting and nearly impossible task of competing with the one dollar bill.
Regardless of the historical and interesting aspects of any dollar coin, handling and using paper bills in every day life is simply too convenient. When it comes to the dollar, most people want to use and receive paper in transactions, not coin.
Today, Jan. 7, the Numismatic Guaranty Corporation (NGC) has confirmed the existence of counterfeit replica holders.
NGC was founded in 1987 to objectively provide third party grades to coins. Coins sent to NGC are analyzed, graded, recorded and then encapsulated in tamper resistant, protective holders.
While there are several coin grading services in existence, NGC is considered to be one of the top two - PCGS being the other.
Counterfeiting certified coin holders is not new. Those who do it and are willing to risk jail time victimize the unsuspecting buyer into paying a large amount of money for a coin that may also be counterfeit, or not at the grade the fake holder indicates.