Security Risk Assessments Are Key to Addressing the Surge in Numismatic Crimes

Dealers and collectors of rare coins, currency, and precious metals are facing an increasing number of thefts, robberies, and frauds. To mitigate these risks, conducting comprehensive security risk assessments has become essential for both dealers and collectors.

The Importance of Security Risk Assessments

A security risk assessment involves identifying potential vulnerabilities and implementing measures to minimize them. For numismatists, this process can make the difference between operating safely and becoming the next victim of a numismatic crime. Regularly reviewing and updating security practices is crucial to staying ahead of criminals who continuously adapt their methods.

Recommendations for Dealers

Dealers operating coin shops or engaging in numismatic transactions should take the following steps:

1. Review Policies and Procedures:
   • Regularly assess and update alarm systems to ensure they incorporate the latest technology.
   • Develop and enforce protocols for identifying and addressing suspicious individuals or activities.
   • Implement strict inventory control measures to track and secure valuable items.
2. Prepare for Robbery Scenarios:
   • Train employees on how to respond during a robbery to prioritize safety and minimize loss.
   • Maintain a detailed record of suspicious persons or activities, including photographs or descriptions when possible.
3. Enhance Security During Travel and Events:
   • Develop protocols for safely transporting high-value items, particularly when attending coin shows.
   • Use secure cases and inconspicuous packaging to reduce attention.
4. Stay Informed:
   • Employees should be aware of current crime trends within the numismatic industry by regularly reading alerts from the Numismatic Crime Information Center (NCIC). These updates provide valuable insights into emerging threats and preventive measures.

Recommendations for Collectors

Collectors are also at significant risk, especially when traveling with high-value coins and precious metals. Here are steps collectors should take:

1. Conduct Personal Security Risk Assessments:
   • Evaluate vulnerabilities related to travel routes, accommodations, and event venues.
   • Plan ahead to ensure safety while transporting numismatic assets.
2. Secure High-Value Items:
   • Use lockable, tamper-proof cases to carry coins and precious metals discreetly.
   • Avoid discussing the value of your collection publicly, as it can attract unwanted attention.
3. Travel Smart:
   • Avoid predictable routines and routes when attending coin shows or other events.
   • Coordinate with trusted individuals to ensure safe transport and storage of valuable items.

The Need for Regular Reviews

Business and personal security risk assessments should not be a one-time task. It is essential to review these assessments every six months. This regular review ensures that any new vulnerabilities are identified and addressed promptly. Criminal tactics evolve, and staying vigilant is key to reducing the risk of becoming a victim of numismatic crimes.

Conclusion

Whether you are a dealer or a collector, the importance of proactive security measures cannot be overstated. Conducting regular security risk assessments, staying informed about current threats, and implementing robust safety practices are essential steps in protecting your investments and ensuring your safety. By taking these precautions, the numismatic community can work together to combat the rising tide of numismatic crimes and preserve the integrity of this cherished industry.

The Numismatic Crime Information Center (NCIC) is a 501 (c)(3) non-profit corporation whose mission is to serve as a national and international resource for collectors, dealers and law enforcement in the education, prevention and investigation of crimes involving coins, paper money, tokens, medals, and related numismatic items.

The success of the Numismatic Crime Information Center in “Targeting Numismatic Crimes Around the World” depends on the financial commitments of the numismatic community. All donations are tax deductible. Donations can be sent to P.O. Box 14080 Arlington, Texas 76094 or www.numismaticcrimes.org.