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Former Burnsville coin dealer pleads guilty to counterfeit fraud scheme

2/21/2019 10:51:34 AM

For Immediate Release

SAINT PAUL -- The Minnesota Commerce Department announced that the former owner of Burnsville Coin Company has pleaded guilty in federal court to a counterfeit coin fraud scheme.

On Thursday, February 21, Barry Ron Skog, 68, of Burnsville, pleaded guilty to one count each of mail fraud and sale of counterfeit coins in front of Judge Wilhelmina M. Wright in U.S. District Court in St. Paul.

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

According to his guilty plea, Skog owned and operated Burnsville Coin Company, 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 of the Burnsville Coin Company 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 victims. He also intended to create more losses to victims by advertising 275 additional counterfeit coins for sale at approximately $235,000.

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.

Commerce is here to help

Media Contact
Ross Corson
Director of Communications
Minnesota Department of Commerce
p: 651-539-1463 | c: 651-368-5050 | ross.corson@state.mn.us

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