Twin Cities Coin Dealer Sentenced To 30 Months In Prison For Counterfeit Coin Fraud Scheme

United States Attorney Erica H. MacDonald today announced the sentencing of BARRY RON SKOG, 68, to 30 months in prison for perpetrating a counterfeit coin fraud scheme. SKOG, who pleaded guilty on February 21, 2019, was sentenced earlier today before Judge Wilhelmina M. Wright in U.S. District Court in St. Paul, Minnesota.

“The Minnesota Department of Commerce is proud of our role in uncovering this counterfeit coin fraud scheme,” said Matt Vatter, Minnesota Department of Commerce Assistant Commissioner of Enforcement. “Every day, our investigators in the Commerce Fraud Bureau are working to protect Minnesotans against these types of schemes and fraudulent activities and ensure a business climate where legitimate businesses can serve the needs of our citizens.”

According to the defendant’s guilty plea and documents filed in court, SKOG owned and operated a business which engaged in advertising and selling numismatic coins. Through his business, SKOG posted advertisements for coins in a publication called Numismatic News. When potential buyers responded to the ads, SKOG would mail them lists of available coins for purchase, many of which were counterfeit. In his communications with the victims, SKOG would often represent himself as an employee named “Ron Peterson,” when, in fact, there were no other owners or employees of the company other than SKOG. In total, SKOG stole more than $57,000 from his identified victims. SKOG also intended to create additional loss by advertising for sale 275 additional counterfeit coins at an advertised sale value of approximately $235,000.

This case is the result of an investigation conducted by the Minnesota Commerce Fraud Bureau and the Burnsville Police Department.

Based on the evidence obtained in this case, authorities believe there may be additional victims who have not yet been identified. Anyone with information about this matter is encouraged to call the Minnesota Commerce Fraud Bureau at 651-539-1617. Callers may remain anonymous.

Assistant U.S. Attorney Manda M. Sertich prosecuted the case.

Defendant Information:

BARRY RON SKOG, 68

Burnsville, Minn.

Convicted:

• Sale of counterfeit coins, 1 count
• Mail fraud, 1 count

Sentenced:

• 30 months in prison

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United States Attorney’s Office, District of Minnesota: (612) 664-5600