FTC: Seller of Bogus 9/11 Coins to Pay $750,000

National Collector's Mint charged customers for items they never ordered and failed to identify its wares as imitations

Sunday, Jan 20, 2013  |  Updated 9:15 AM EDT
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FTC: Seller of Bogus 9/11 Coins to Pay $750,000

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A company that sold Sept. 11 commemorative coins supposedly containing silver from ground zero has agreed to pay $750,000 to settle charges that it deceived consumers.
 
The Federal Trade Commission says Port Chester, N.Y.-based National Collector's Mint charged customers for items they never ordered and failed to identify its wares as imitations.

  A law passed in 2010 created an official Sept. 11 medal to benefit the museum being built at the World Trade Center site.
 
New York Sen. Charles Schumer and Rep. Jerrold Nadler complained the National Collector's Mint's coins could deprive the museum of funds.
 
The FTC said in a release Thursday the agreement bars National Mint from misrepresenting its products.
 
Schumer said Saturday that the nation will not tolerate a "despicable scam.''
 
The company's attorney didn't immediately return a phone message Saturday.

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