Company To Pay $750K After FTC Says It Sold Fake 9/11 Commemorative Coins
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A coin company will pay a heavy price for tricking collectors into buying fake September 11th commemorative coins.
Senator Charles Schumer and Congressman Jerrold Nadler said that National Collector's Mint will be forced to pay $750,000 to settle Federal Trade Commission charges that it misled consumers.
The coins were released for the 10th anniversary of the 2001 attacks.
A commercial for the coin claimed it was made with silver recovered from the ashes of the World Trade Center site, but Schumer and Nadler said the amount of precious metal in the coins amounted to less than 60 cents in value.
The two originally called for the FTC to crack down on the company shortly after the coins were released.