New York lawmakers want the FTC to take action against the company National Collector's Mint.
Senator Chuck Schumer and Congressman Jerrold Nadler gathered near ground zero Monday to call for action against a company they claim is distributing phony 9/11 commemorative coins.
The lawmakers said the sale of the coins by National Collector's Mint is taking money away from their initiatives to support the National September 11th Memorial & Museum. Schumer and Nadler passed legislation in July that created an official 9/11 medal to support the memorial. They claimed that every dollar spent on National collector's Mint coins means $2 lost from their cause.
A TV ad created by the company stated the coins are an exclusive collector's item and are government sanctioned. Schumer and Nadler are calling on the Federal Trade Commission to take action against the company. "We are calling on the FTC to crack down on this unscrupulous company and send a loud message thatprofiteering off a national tragedy will not be tolerated,” said Schumer.
The lawmakers also requested that the United States Mint post notice that the coin is not government sanctioned.
National Collector's Mint did not respond to request for comment.