FTC - Numismatics and Hobby Protection Act

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Nicholas Pyle

Apr 15, 2016, 3:46:03 PM4/15/16
to Numismatists United for Political Action (NUPA)

FTC Seeks Comment on Proposed Changes to Hobby Protection Rules

The Federal Trade Commission is seeking public comment on proposed amendments to its Hobby Protection Rules.

In 2014, as part of its systematic review of all FTC rules and guides, the FTC sought public comment on the Hobby Protection Rules (formally, the “Rules and Regulations Under the Hobby Protection Act”) that regulate the marking of imitation coins and political items sold to hobbyists.

Based on the 2014 Collectible Coin Protection Act, which amended the Hobby Protection Act, the FTC proposes to extend the scope of the rules to cover persons or entities that sell imitation numismatic items (coins, paper currency and commemorative medals), or provide substantial assistance or support to any manufacturer, importer, or seller of imitation numismatic items, or any manufacturer or importer of imitation political items, who they know, or should have known, is violating the marketing requirements of the Hobby Act and the Rules.

The Commission vote approving the Notice of Proposed Rulemaking on the Rules and Regulations Under the Hobby Protection Act was 3-0. The Notice is available on the FTC’s website and as a link to this press release and soon will be published in the Federal Register. Instructions for filing comments appear in the Notice. Comments must be received on or before July 1, 2016. All comments received will be posted on the FTC’s website. (FTC File No. GP974230; the staff contact is Joshua S. Millard, Division of Enforcement, 202-326-2454)

The Federal Trade Commission works to promote competition, and protect and educate consumers. You can learn more about consumer topics and file a consumer complaint online or by calling 1-877-FTC-HELP (382-4357).  Like the FTC on Facebook, follow us on Twitter, read our blogs and subscribe to press releases for the latest FTC news and resources.

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