National Collector's Mint Inc.

A class action lawsuit has been filed against the manufacturer of the Freedom Tower Silver Dollar. The company claims that the coins are made of .999 pure silver recovered from a vault at ground zero, and that they are the first "legally authorized government issue silver dollar . . . to commemorate the World Trade Center and the new Freedom Tower." The suit was filed on behalf of more than 10,000 people who purchased the coin, which is being sold for $23.45.

The suit alleges fraud, claiming that the coin is a "shameless attempt to profit from a national tragedy though an advertising campaign," and that the coin is not legal tender and was not issued by the U.S. Mint. The suit further claims that the coins are not pure silver, that they are not the equivalent of $1 in U.S. currency and that they were never authorized by the U.S. government. Additionally, the suit claims that the company failed its "guarantee" that if the customer is not satisfied, the coin can be returned for a full refund "no questions asked."

The class action lawsuit was certified on June 30, 2005. The case is pending in the Southern Distinct of New York before Judge Colleen McMahon.

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Reader Comments

Posted by

I purchased 5 coins after repeatedly seeing an ad claiming that the coins were .999 pure silver recovered from a vault at ground zero at the World Trade Center. I received the coins as pictured and placed them in a secure safe in my home. Now that I am retired and my children are grown adults, I thought that the coins would have increased in value to be passed to my family upon my death. I have come to find out that this was a shameless scam that took advantage of the tragedy where many of my own family members narrowly escaped that fateful day. The greedy criminals who plotted and conducted this scam should be locked up and all their stolen assets seized and returned to the victims with interest.

Posted by

I thought I was getting a piece of history that I could hand down to my grand kids, but they would of been a laughing stock, cause it's fake.

Posted by

I just went on the internet to get the value of the 2 coins that I purchased from National Collector's Mint. Unfortunately, I do not have the actual date that I purchased these coins, but I paid $252.81 US including tax. I know this was done 2005? and it is now 2016. I was not aware that these were fraud. I live in Ontario, Canada and was wondering if I have any chance on getting my money back. Please help me or direct me to someone who can. I do have all the papers, certificates and the coins are still in their plastic cases.

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