BROOMALL, Pa. (CBS) — A Delaware County man helped bring down a multi-million counterfeit coin operation. He told CBS3 how he did it. Authorities say the suspect from the area duped unsuspecting buyers.
It was a potential $46 million fraud that federal prosecutors say was cooked up by a man pushing counterfeit coins.
Jonathan Kirschner, of Moorestown, was sentenced this week to more than 10 years in prison.
Richard Weaver, a coin dealer from Broomall, assisted federal investigators in cracking the case nearly two years ago.
“The case was first brought to me when clients of mine came in with silver dollars that were purchased from a gentleman in New Jersey,” Weaver said. “They were concerned about the authenticity of the coins. Upon viewing them, they were counterfeit copies.”
A sting was then set up. Homeland Security and ATF agents got involved.
Kirschner was arrested with more coins at a parking lot meet-up.
“The gentleman represented the coins as being from his grandfather and being very, very rare,” Weaver said.
But in actuality, the coins were replicas purchased from online retailers based in China.
“Meeting somebody in a parking lot with a deal that seems to be too good to be true, is probably too good to be true,” Weaver said. “Just common sense will tell you, you cannot buy an ounce of gold for $1.25.”