The E-Sylum:  Volume 9, Number 36, September 3, 2006, Article 30

ON COLLECTING COUNTERFEITS

Michael E. Marotta writes: "Every E-Sylum reader should have a copy
of THE COIN WORLD ALMANAC.  That highly-important reference contains
relevant sections of U.S. Code Chapter 25 on counterfeit currency.
Every E-Sylum reader should read the original citations and decide
what the law says.  Anyone who is unclear on this should check with
an attorney.

Basically, it is not illegal to hold counterfeit currency, only to
buy or sell it.  Contraband includes ALL forms of money from current
issue U.S. Federal Reserve Bank notes to Budapest bus tokens.  If "it"
is money, then you break the law when you buy or sell counterfeits of
"it."  Among the exceptions are obvious replicas commonly enjoyed by
the numismatic community.

Rather than argue the details second hand, I encourage everyone to
know the laws and obey them.  Ignorance of the law is no excuse --
certainly not for anyone who subscribes to The E-Sylum.  Bottom line:
Contraband can be seized without a search warrant."

  Wayne Homren, Editor

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