Clicky

Bellevue 425-454-1283 · Lynnwood 425-672-2646 · Issaquah 425-392-0450 · Tacoma 253-328-4014

🌟 New Store Hours 🌟 Mon - Fri: 10 AM - 6 PM 🚫 Closed Sat & Sun 🚫

THE HOBBY PROTECTION ACT WILL SEE A BIG CHANGE IN 2017

 

Much like currency collectors, coin collectors worry about being taking advantage of when making purchases. Effective this year in 2017, the government is introducing new rules and regulations, which are intended to help protector the buyer and their investment.

 

Due to supply and demand, many authentic, rare coins are unavailable, and most illegitimate sellers know this. Because of this knowledge, collectors are often taken advantage of when trying to complete their catalog of a particular collection. This year, the government is introducing new rules and regulations to help protect collectors when making purchases by requiring the seller to acknowledge that the coin in question is indeed a replica.

 

“The Hobby Protection Act requires items be marked plainly and permanently with the calendar year they were manufactured,” said Josh Millard, an attorney with the FTC in Washington, D.C.

 

The act also requires that the importers and manufacturers of imitation numismatics, brand the items with “copy” in a conspicuous area on the items themselves. This allows for buyers who believe they are purchasing a rare coin to know that the article in question is indeed not what they had hoped. The changes also extend to currency and other government related/issued collectibles. According to the amended Act, any person(s) are found to be in connection with the issuing and distributing of unlawful replicas will be punished to the full extent of the law.

 

Did you enjoy this read? Try Presidential $1 Coin Sets Are An Exceptional Way To Honor Our Leaders Of The Past

Since 1979, Bellevue Rare Coins has been a trusted, family-owned business serving the Greater Seattle Area with locations in Bellevue, Lynnwood, Issaquah, and West Seattle. Specializing in gold, silver, diamond, and jewelry purchasing, in addition to dealing in rare coins. We now offer a vast selection of fine, vintage and custom-designed jewelry. Visit anyone of our four friendly locations for the best deals selling or buying.

 

Do you like this Post? Share it on Twitter or like it on Facebook

 

Schedule an Appointment

  • Bellevue

    Bellevue

    321 Bellevue Way NE
    Bellevue, WA 98004
    Hours: Mon-Fri 10 am - 6 pm
    Saturday & Sunday Closed
    Phone: 425-454-1283
  • Lynnwood

    Lynnwood

    18411 Alderwood Mall Parkway Suite F
    Lynnwood, WA 98037
    Hours: Mon-Fri 10 am - 6 pm
    Saturday & Sunday Closed
    Phone: 425-672-2646
  • Issaquah

    Issaquah

    1175 NW Gilman Blvd Suite B16
    Issaquah, WA 98027
    Hours: Mon-Fri 10 am - 6 pm
    Saturday & Sunday Closed
    Phone: 425-392-0450
  • Tacoma

    Tacoma

    2302 Pacific Ave
    Tacoma, WA 98402
    Hours: Mon-Fri 10 am - 6 pm
    Saturday & Sunday Closed
    Phone: 253-328-4014