Waterloo man charged after selling counterfeit rare coin for $25K: police

Niagara police have charged a Waterloo man who is accused of selling a counterfeit 1921 Canadian 50 cent coin.

Investigators with the central fraud unit said a collector in the Niagara region bought the rare coin for $25,000 from the suspect in December 2021. Depending on its condition, police said, the value of this coin can far exceed the value of $25,000.

After receiving the coin from the seller, the coin was determined to be counterfeit.

On Tuesday, police arrested and charged 61-year-old Jeffrey J. Thomson. He is facing two offences, including fraud over $5000 and utter counterfeit money.

Anyone with information regarding this investigation can contact 905-688-4111, option 3, ext. 1009487.