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US Customs thwarts attempt to smuggle in more than 100 fake Krugerrands
28 April 2021 8:13 PM SAGCE
Share This: If the coins had been authentic they would have been worth more than R3m. Buyer beware! says Alan Demby (SA Gold Coin Exchange)
Border officials have thwarted an attempt to smuggle 119 fake Krugerrands into the US.
U.S. Customs and Border Protection (CBP) said the coins were discovered at the Rochester Port of Entry in New York State.
They were supposedly minted in 1972.
Image: U.S. Customs and Border Protection on Twitter @CBP
The coins showed a low-quality metal which did not carry the weight of an authentic gold coin, says a CBP statement.
Nearly 120 fake Krugerrand coins seized by US Customs in New York
US Customs and Border Protection seized nearly 120 fake Krugerrand gold coins at the Rochester Port of Entry in New York.
KRUGERRAND COINS DISCOVERED IN US MADE FROM LOW-QUALITY METAL
Customs said its officers encountered a shipment manifesting as badge on 5 April and when they investigated the matter, 119 one-ounce Krugerrands shipped in an unmarked shipping bag were discovered.
Through further research, Customs found that the gold Kruggerrands are restricted from distribution by the South African Mint. An authentic gold Krugerrand coin from 1972 has a value of $1800 (R25 860) or more. The South African coins are the most popular gold bullion coin in the world.