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Thread: 9-11 Tenth Anniversary 'Coin' Scam....

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    9-11 Tenth Anniversary 'Coin' Scam....

    Avram C. Freedberg and his National Collector's Mint is running a scam selling a "9-11 Tenth Anniversary Commemorative Coin....

    From Fox News....
    A coin commemorating the 10th anniversary of the Sept. 11, 2001, terror attacks is drawing the ire of consumers and politicians who have learned that the coin may be just a worthless trinket that has no affiliation with the U.S. government and does not benefit the 9/11 Memorial.

    Katie Smith and John Shughart of Carlisle, Pa., thought they were buying a priceless piece of history. Now, the coin they bought may have not even a cent of value.

    "I think it's a complete rip-off," says Smith. "It's a scam."

    The couple called a 1-800 number and ordered a 9/11 Tenth Anniversary Commemorative Coin after seeing a commercial on TV. The commercial claims the coin has "sculptures of the USS New York and the World Trade Center towers, inset with jeweler precision on its obverse, each entirely clad in .999 pure silver actually recovered from beneath the ashes of ground zero."

    Smith and Shughart thought the coin was sanctioned by the U.S. government. They thought they could help rebuild the World Trade Center for the low, low price of just $29.95. Turns out, none of that is true. To add insult to injury, Shughart was charged more than $370 for 6 extra coins and display cases he never ordered. Because the general contractor used his debit card, the money was taken right out of his bank account by a company called The National Collector's Mint.


    "It was supposed to be $29.95," Shughart explained, laying out all the coins. "So I called them and they weren't willing to work with me."

    Suspicious, Smith and Shughart filed a complaint with the Better Business Bureau and found out they were not alone.

    The Better Business Bureau gives The National Collector's Mint an "F" rating for various complaints about the company's selling and billing practices and its 9/11 Tenth Anniversary Coin.


    "It's nothing more than worthless bric-a-brac that has no value and no connection to the 9/11 memorial or the federal government. But you wouldn't know it by watching their commercial," says New York Sen. Charles Schumer (D).


    In a press conference, Schumer and New York Rep. Jerrold Nadler (D) called on the Federal Trade Commission to shut down The National Collector's Mint.

    FTC Chairman Jon Leibowitz acknowledges the accusations, but so far is stopping short of a full-blown investigation. "We agree that these allegations are enormously troubling, and will determine what action by this agency may be appropriate," Leibowitz said in a statement.

    The National Collector's Mint is based in Port Chester, N.Y. The president and CEO is Avram Freedberg, who coin appraisers say is pocketing considerable change from that $29.95.
    Kevin Shary of Gold Mine Appraisals in Mechanicsburg, Pa., says based on the medallion's precious metal content, it's worth roughly 25 cents. "There is maybe an ounce of silver and copper there, that's maybe what? A quarter?" says Shary, "It might be worth a quarter."

    Profits from the sale of those coins help pay for Freedberg's seven-bedroom house in Stamford, Conn., and a racehorse which he blogs about on his website. Freedberg also once marketed the as-seen-on-TV product, "The Original BeDazzler".

    Through his PR company, Freedberg refused to do an interview with Fox News or provide proof that he bought the silver used in the coins from a bank that stored silver bars in vaults below the World Trade Center, as he has claimed. However, Freedberg is standing by his product, saying in a statement:

    "The Company's television commercials accurately and completely describe the commemorative medallions being offered for sale."

    Schumer accuses the company of diverting money that could be spent on the official 9/11 memorial and museum. "Every dollar spent on these fraudulent coins is $2 lost that could have gone to honor those who put everything on the line for this country."

    On his website, Freedberg claims he has given $2,000,000 dollars in donations to various 9/11 charities. He did once give $30,000 to the memorial fund. However, Joe Daniels, 9/11 Memorial president, gave the check back citing the fact that the company was charged with fraud and fined over its similar "Freedom Tower Silver Dollars" back in 2004.

    "We returned the money right away," says Daniels, "and said: 'You guys have been investigated. You're using false claims. You're talking about metal that was reclaimed at ground zero, which is not true.'"

    Daniels says if people want to help, they will soon be able to buy an official 9/11 commemorative medal, sanctioned by the U.S. government, a project that is going forward thanks to legislation proposed by Schumer and Nadler and signed by President Obama last summer.

    "Dollars from the purchase of that medal will, in fact, go to help build the memorial and museum here at the World Trade Center site," Daniels says.

    The U.S. Mint is expected to release the medal this summer, just ahead of the 10th anniversary of the terror attacks. Meanwhile, The Mint is issuing a warning about the National Collector's Mint coins, which are still for sale on TV and online.

    Smith and Shughart plan to buy one of the official medals from the U.S. Mint. They have returned all of the National Collector's Mint coins and are expecting the company to give them a full refund.

    "I would just like to give them all their crap back," says Shughart. "And get my money back."
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    Re: 9-11 Tenth Anniversary 'Coin' Scam....

    From the biography page of his website

    Over the last 30 years, Freedberg has been a direct marketer of everything from micro-bibles to the full gamut of video cassettes, coins, skincare products and general merchandise. He has published twelve books and marketed the Original BeDazzler, the famous stud and rhinestone-setting machine, seen on television infomercials. In 2005, he founded with Eva Price, Maximum Entertainment Productions LLC. Read more under Business.
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    Re: 9-11 Tenth Anniversary 'Coin' Scam....

    Mr Freedburg even cracks it for a mention on Wikipedia,

    It appears this is not Mr Freedburgs' attempt to cash in on the 9/11 tragedy.

    Another candidate for the Gordon Gekko Commemorative Congressional Medal award, perhaps ???

    Avram C. Freedberg

    From Wikipedia, the free encyclopedia
    Avram C. Freedberg (born c. 1947) is a Broadway theatre producer and direct marketer.
    In 1988 Freedberg operating Consumer Marketing Group in Stamford, Connecticut was raided for selling pornography while doing business as "Dirty Dick's Dynamite Discount Den" Freedberg paid $600,000 in fines and agreed to get out of the business in order to avoid jail time.

    In 1991 he founded the National Collectors Mint in Port Chester, New York. The company through its online catalog marketed collectible coins from the United States and around the world. The coins were heavily marketed on television.

    In 2004, it began selling coins commemorating the September 11 attacks with silver purported to have been recovered from the World Trade Center. The coins which it purports to be legal tender are said to have been issued by the United States territory Commonwealth of the Northern Mariana Islands which can not issue legal tender.

    In 2008 the company began selling Barack Obama dollars with Obama on one side and Abraham Lincoln on the back

    In 2005 he bought the rights from Bricmar Manufacturing for the Bedazzler

    He also owns BioLogic Solutions. Among its products advertised on television was Sta-Tight which was said to be an alternative to Botox

    In 2006 and 2007 Freedberg's company Maximum Entertainment was the sole producer for Dr. Seuss' How the Grinch Stole Christmas! (musical) during the Christmas season. The 2007 production was halted for seven days during the 2007 Broadway stagehand strike and managed to get back into performance by getting a special dispensation. He has invested in several other shows.
    The only thing necessary for the triumph of evil is for good men to do nothing

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    Re: 9-11 Tenth Anniversary 'Coin' Scam....

    Quote Originally Posted by littleroundman View Post
    Another candidate for the Gordon Gekko Commemorative Congressional Medal award, perhaps ???
    I can't begin to imagine what those in the USA must think of this scumbag who'd use the tragedy of 9-11 to scam people and stuff his pockets...
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    Re: 9-11 Tenth Anniversary 'Coin' Scam....

    Quote Originally Posted by okosh View Post
    I can't begin to imagine what those in the USA must think of this scumbag who'd use the tragedy of 9-11 to scam people and stuff his pockets...
    I truly wish that just once, the mainstream media would get hold of a story like this and stay on it long enough that the despicable creature was driven so far underground he'd never be heard from again.

    Violence is never a solution, but sometimes...........................................
    The only thing necessary for the triumph of evil is for good men to do nothing

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    Re: 9-11 Tenth Anniversary 'Coin' Scam....

    Quote Originally Posted by littleroundman View Post
    I truly wish that just once, the mainstream media would get hold of a story like this and stay on it long enough that the despicable creature was driven so far underground he'd never be heard from again.

    Violence is never a solution, but sometimes...........................................
    I agree 200% LRM.
    Congratulations to "okosh" for the tremendous "scoop." I can't help wondering what he would have been earning, if he had bumped into Rupert Murdoch.

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    Re: 9-11 Tenth Anniversary 'Coin' Scam....

    It always amazed me how someone could just come across some alleged 'silver' from the WTC. I would have to think if any was stored there at all, the rightful owner or government would have it.

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    Re: 9-11 Tenth Anniversary 'Coin' Scam....

    Quote Originally Posted by littleroundman View Post
    I truly wish that just once, the mainstream media would get hold of a story like this and stay on it long enough that the despicable creature was driven so far underground he'd never be heard from again.

    Violence is never a solution, but sometimes...........................................
    I would tend to agree, but given the choice of violence being visited upon me, or deterring it with a violent response of my own,guess what...!

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    Re: 9-11 Tenth Anniversary 'Coin' Scam....

    A request to mods and admin.
    -----------------------------
    This is such an important issue and news in a different genre to anything I have ever read before that, it would be nice if the posts about other forums and how we met trusted cyberspace friends, could be moved as some may not like to cover up this news with a more mundane post.

    I am getting to know those of you who met on scam.com. I met my most trusted cyberspace friends on TalkGold and Adlandpro. I encountered Lynne on MCF but did not read his posts until he spoke out on WorldLawDirect.

    I would like to keep up with this story about minted coin scams from the start and avoid the distractions of other subjects.

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    Re: 9-11 Tenth Anniversary 'Coin' Scam....

    Quote Originally Posted by okosh View Post
    I can't begin to imagine what those in the USA must think of this scumbag who'd use the tragedy of 9-11 to scam people and stuff his pockets...
    I don't find this particular scumbag any worse than the Trey White, Jack Weinzierl, Tim Darnell, Justin "Broker" Jones, Troy Dooly, Ken Russo, etc. scuz that populate the USA with their sleazy scams. Too bad our government doesn't step in but you also have to remember that a lot of people deserve to get screwed over. Some get screwed time and time again because they're stupid, gullible and greedy. We're used to it and I think the USA also leads the world in trailer park population. That should tell you "furners" something.
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    A Life Aloft is offline fled troglodyte invasion
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    Re: 9-11 Tenth Anniversary 'Coin' Scam....

    Bastards, bastards, bastards! I am sorry but this has me really upset. As for millions of Americans who were touched by this horrific event and for those of us touched in a very personal way, this is unbelievable. This has got to be the lowest deed that I have ever seen in my life thus far and I thought I had pretty much seen it all. This company has contributed nothing to the families of the victims of 9/11. Nothing. I found this video of a news report about the coin and it's maker.



    "SCHUMER, NADLER: UNITED STATES MINT POSTS WARNING ALERTING CONSUMERS TO PHONY 9/11 COINS; OFFICIALS CONTINUE TO PRESS FTC TO CRACKDOWN ON FAKE 9/11 COMMEMERATIVE COIN

    And this story:

    National Collector’s Mint, Peddling New 10th Anniversary 9/11 Coin, Attempting To Make Profit At The Expense Of The 9/11 Memorial and Museum

    Schumer, Nadler: U.S. Mint Decision a Good Start, Now FTC Needs To Shut Them Down

    U.S. Senator Charles E. Schumer and U.S. Representative Jerrold Nadler announced today that the United States Mint is now alerting consumers to National Collector’s Mint phony 9/11 coin scam on their official website. On Monday, Schumer and Nadler called on the United States Mint to warn consumers about fraudulent 9/11 commemorative coins that are advertised as “officially authorized 10th anniversary September 11th commemorative[s]” and being sold by National Collector’s Mint. The coins, which are heavily advertised on television, also make claims to having an official licensing agreement to use the FBI’s insignia and are minted with silver obtained from Ground Zero.

    “The consumer warning posted by the United States Mint, that these coins are blatant rip-offs and phony is a good first step to stop is stopped this questionable firm from making a profit off of our national tragedy and conning consumers in the process,” said Schumer. “Much more needs to be done, however, to ensure this company stops marketing and manufacturing this worthless bric-a-brac with false and misleading claims. These scam artists need to be held accountable and if necessary have criminal action brought against them. We continue to urge the FTC to move immediately to shut this unscrupulous company down.”" Schumer and Nadler said the origin of the silver cannot be verified either as the company has refused to answer inquiries into their claim that the silver came from beneath the 9/11 site in New York.

    I applaud the U.S. Mint for responding so quickly to warn consumers about the phony 9/11 coins being sold by the National Collector's Mint and others," said Rep. Jerrold Nadler.  "Now, we call on the FTC to conduct a complete investigation of the perpetrators and send a strong message to other would-be opportunists seeking to profit from 9/11."

    The consumer warning posted on the official website of the U.S. Mint, points out that the “product is not a genuine United States coin or medal.” The U.S. Mint website, displaying the phony coins, also alerts consumers that the only official United States coin or medal to commemorate the 10th anniversary of the September 11th attacks is the "National September 11 Memorial & Museum Commemorative Medal," which is authorized by Public Law 111-221 (approved by the President on August 6, 2010). A copy of the consumer warning posted by the U.S. Mint can be found here: The United States Mint Coins and Medals Program

    Schumer and Nadler passed the legislation in July that created an official 9/11 commemorative medal to support the National September 11 Memorial & Museum at the World Trade Center. The sale of phony coins means that the National September 11 Memorial & Museum may lose out on millions of dollars worth of funds that could be raised through the sale of the official medals. They noted that every dollar spent on these phony coins is two dollars that could have gone to the memorial. The company, which was found guilty of fraud in 2004 for producing a similar coin, rakes in millions by selling virtually worthless products."

    This is low, company selling "official" and "authentic" 10th anniversary coin when US Mint had planned to do the same, and US Mint planned to send proceeds to the ground zero. And despite the company's claim I bet they keep nearly all of the profit.

    This is not the first time the company got busted for fake coin, they pulled the same fake "authentic" 9-11 coin some years ago.

    Remember the fake company's name, and pass the word not to buy anything from them at all.

    A coin made by the mint is actual currency (as mandated by law way back in 1792). With two exceptions (1933 $20 gold and 1972 aluminum cent. Neither were officially released to the public, and therefor are not currency. Ownership of either is illegal except one example of the 1933 $20 gold, which is worth over $7 million), you can spend ANY coin minted by the US Mint since 1792, including the modern gold, silver and platinum. The face value of the coin is MUCH less than the bullion melt value.

    These other "coins" that are being marketed on TV are NOT US currency. They are NOT made by the US Mint.

    Coommerative coins produced by the U.S. Mint are indeed meant to be currency. These other companies are fooling you into thinking that what they're selling are US Mint products and that they have an actual value. The crap they sell you is a chunk of copper with 60 cents of gold on it. You buy a $50 gold buffalo or gold eagle from the mint, and you're getting a solid ounce of the stuff worth about $1318 at current spot prices.

    Law mandates that the commemoratives are currency, and what they are to be made of. The Mint doesn't just go around minting stuff willy nilly, the stuff they make is signed into law by the Presidents. If you want a US Mint product that is NOT meant to be currency, they do make bronze medals.

    9-11 Coins sold through US Mint, they are sending profit to 9-11 memorial. So that makes for a worthy cause and it makes the endeavor legal. (not to mention moral!)

    In an earlier statement, National Collectors Mint said it had contributed more than $2 million to Sept. 11-related funds, but it's not clear if that figure includes actual donations or the multi-millions the company was forced to pay in fines after former Attorney General Elliot Spitzer went after the company for earlier commemoratives, including the "Freedom Tower Silver Dollar" issued in 2004 and 2005.

    This makes me so angry and so disgusted, That I cannot even begin to express how much.
    Last edited by A Life Aloft; 02-05-2011 at 08:27 PM.

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    Re: 9-11 Tenth Anniversary 'Coin' Scam....

    It gets even worse, if that is possible:

    Katie Smith and John Shughart of Carlisle, Pa., thought they were buying a priceless piece of history. Now, the coin they bought may have not even a cent of value.

    "I think it's a complete rip-off," says Smith. "It's a scam."

    The couple called a 1-800 number and ordered a 9/11 Tenth Anniversary Commemorative Coin after seeing a commercial on TV. The commercial claims the coin has "sculptures of the USS New York and the World Trade Center towers, inset with jeweler precision on its obverse, each entirely clad in .999 pure silver actually recovered from beneath the ashes of ground zero."

    Smith and Shughart thought the coin was sanctioned by the U.S. government. They thought they could help rebuild the World Trade Center for the low, low price of just $29.95. Turns out, none of that is true. To add insult to injury, Shughart was charged more than $370 for 6 extra coins and display cases he never ordered. Because the general contractor used his debit card, the money was taken right out of his bank account by a company called The National Collector's Mint.

    "It was supposed to be $29.95," Shughart explained, laying out all the coins. "So I called them and they weren't willing to work with me."

    Suspicious, Smith and Shughart filed a complaint with the Better Business Bureau and found out they were not alone.

    The Better Business Bureau gives The National Collector's Mint an "F" rating for various complaints about the company's selling and billing practices and its 9/11 Tenth Anniversary Coin.

    "It's nothing more than worthless bric-a-brac that has no value and no connection to the 9/11 memorial or the federal government. But you wouldn't know it by watching their commercial," says New York Sen. Charles Schumer (D).

    In a press conference, Schumer and New York Rep. Jerrold Nadler (D) called on the Federal Trade Commission to shut down The National Collector's Mint.

    FTC Chairman Jon Leibowitz acknowledges the accusations, but so far is stopping short of a full-blown investigation. "We agree that these allegations are enormously troubling, and will determine what action by this agency may be appropriate," Leibowitz said in a statement.

    The National Collector's Mint is based in Port Chester, N.Y. The president and CEO is Avram Freedberg, who coin appraisers say is pocketing considerable change from that $29.95.
    Kevin Shary of Gold Mine Appraisals in Mechanicsburg, Pa., says based on the medallion's precious metal content, it's worth roughly 25 cents. "There is maybe an ounce of silver and copper there, that's maybe what? A quarter?" says Shary, "It might be worth a quarter."


    Profits from the sale of those coins help pay for Freedberg's seven-bedroom house in Stamford, Conn., and a racehorse which he blogs about on his website. Freedberg also once marketed the as-seen-on-TV product, "The Original BeDazzler".

    Through his PR company, Freedberg refused to do an interview with Fox News or provide proof that he bought the silver used in the coins from a bank that stored silver bars in vaults below the World Trade Center, as he has claimed. However, Freedberg is standing by his product, saying in a statement:

    "The Company's television commercials accurately and completely describe the commemorative medallions being offered for sale."

    Schumer accuses the company of diverting money that could be spent on the official 9/11 memorial and museum. "Every dollar spent on these fraudulent coins is $2 lost that could have gone to honor those who put everything on the line for this country."

    On his website, Freedberg claims he has given $2,000,000 dollars in donations to various 9/11 charities. This claim has never been proven! He did once give $30,000 to the memorial fund. However, Joe Daniels, 9/11 Memorial president, gave the check back citing the fact that the company was charged with fraud and fined over its similar "Freedom Tower Silver Dollars" back in 2004"We returned the money right away," says Daniels, "and said: 'You guys have been investigated. You're using false claims. You're talking about metal that was reclaimed at ground zero, which is not true."

    Daniels says if people want to help, they will soon be able to buy an official 9/11 commemorative medal, sanctioned by the U.S. government, a project that is going forward thanks to legislation proposed by Schumer and Nadler and signed by President Obama last summer.

    "Dollars from the purchase of that medal will, in fact, go to help build the memorial and museum here at the World Trade Center site," Daniels says.

    The U.S. Mint is expected to release the medal this summer, just ahead of the 10th anniversary of the terror attacks. Meanwhile, The Mint is issuing a warning about the National Collector's Mint coins, which are still for sale on TV and online.

    Smith and Shughart plan to buy one of the official medals from the U.S. Mint. They have returned all of the National Collector's Mint coins and are expecting the company to give them a full refund.

    "I would just like to give them all their crap back," says Shughart. "And get my money back."
    Last edited by A Life Aloft; 02-05-2011 at 08:26 PM.

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    Re: 9-11 Tenth Anniversary 'Coin' Scam....

    I never gave this a second thought until this thread was posted. I saw the commercial tonight running on the hallmark channel. It appears to only run after midnight Im sure due to cost like most scam crap does. It appears the Feds have made some warnings about it but the commercial is still running on tv. Looks like they would shut them down. Our goverment as screwed up as it is needs a department of scams(for a lack of better term) to go after this stuff asap and crucify these thieves.
    If its listed at the Talk Gold ponzi and crime forum its a SCAM.

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    A Life Aloft is offline fled troglodyte invasion
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    Re: 9-11 Tenth Anniversary 'Coin' Scam....

    Sadly, the wheels of justice in this country move at a snail's pace, on all levels. Our government is in many areas an ineffective bureaucratic mess. The FTC is dragging their asses. They are supposedly "investigating" as of January. They must have thousands upon thousands of complaints regarding so many entities and not enough staff to handle them all. It's rather disappointing. One can only hope that the dozens and dozens of blogs, fprums, articles and news reports that are easily found on the net have some effect on their business and that consumers wise up sooner rather than later. It's even more amazing to me that these sob's already piulled a similiar stunt a few years ago and were heavily fined and yet start another rip-off scam. The cycle with these low lifes just begins anew. Perhaps a campaign of writing letters/emails to the channels who let them air their commercials is next.

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    Re: 9-11 Tenth Anniversary 'Coin' Scam....

    Quote Originally Posted by path2prosperity View Post
    I agree 200% LRM.
    Congratulations to "okosh" for the tremendous "scoop." I can't help wondering what he would have been earning, if he had bumped into Rupert Murdoch.
    Story was done by Fox news on this...But I actually read it at one of my favorite blogs that exposes such scammers, crooks and other dispicable crimes within the Jewish community....

    Is actually interesting to see on this guys site that he claims to do a lot of charity work...Wonder who he helps other than himself??....
    Got his picture taken with a whole host of big names including former president Jimmy Carter, Senator John McCain, Senator Joe Lieberman, former UN Ambassador Jean Kirkpatrick, former New York City mayor Rudy Giuliani, and Senator Hillary Clinton...
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    Re: 9-11 Tenth Anniversary 'Coin' Scam....

    The only thing necessary for the triumph of evil is for good men to do nothing

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