Bogus 9/11 coins have resulted in a $750,000 settlement. The coins supposedly contained silver that was recovered from the site of the tragedy. However, the Federal Trade Commission (FTC) has ruled that the manufacturer is guilty of deceiving consumers, according to a Jan.19, 2013 report by ABC News.
National Collector's Mint agreed to pay the settlement stemming from a variety of allegations after the FTC said they charged consumers for items that were never ordered and that they did not properly identify the bogus 9/11 coins as imitations.
The company, which is based in Port Chester, N.Y., capitalized on a terrible tragedy in American history, and there was some concern that their bogus 9/11 coins would impact the sales of an official 9/11 medal that is being sold to benefit the National September 11 Memorial & Museum being built at ground zero. From the United States Mint:
"The National September 11 Memorial & Museum Commemorative Medal Act of 2010 (Public Law 111-221) authorizes the striking of silver medals in commemoration of the 10th anniversary of the September 11, 2001, terrorist attacks on the U.S. and the establishment of the National September 11 Memorial & Museum at the World Trade Center."
In addition to the $750,000 settlement, National Collector's Mint is banned from continuing to misrepresent its products and deceive consumers.
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