Wholly hobby

We’ll confess a certain fondness for the Hobby Protection Act. Based on the name, we were hoping it safeguards our right to watch reality TV while eating ice cream – our favorite hobby – but the real purpose is much different.

At the direction of Congress, the FTC put the Hobby Protection Rules in place to address the marking of “imitation numismatic items” and political items sold to collectors. Did you just come across a genuine Double Triple Eagle Gold Piece or is it a novelty copy? Is that “I Like Ike” button the real McCoy from the 50s or a reproduction? The Hobby Protection Act requires companies to “plainly and permanently” mark coins, paper money, and the like with the word “COPY.” Political items have to be marked with the date they were made so consumers know if they’re buying the real deal or a replica. The FTC Rules explain how to do that.

As we mentioned yesterday, the FTC periodically looks at rules and guides to see if they’ve kept up with the times. If a regulation no longer serves its intended purpose, does it really need to be on the books? (Alas, poor Frosted Cocktail Glass Rule. We knew it well.) If technology has changed, maybe some tweaks are called for. One example of that: the FTC’s 2013 updates to the Children’s Online Privacy Protection Rule.

The Hobby Protection Rules are the next to go under the “How’s it holding up?” microscope. The FTC has asked consumers and industry members a series of questions about how the Rules are working in the real world. How do the Rules affect consumers and small businesses? What are the costs and benefits? Are there things that need to be changed?

What do you think about the Hobby Protection Rules? File an online comment by September 22, 2014. Like similar filings you send us, we’ll post them on our public comments page.

 

5 Comments

>> Leave a Comment | Comment Policy

Thanks for the article.I added my name to the "Do Not Call" list. Everyday & everyday, Lisa,Racheal, or someone else is calling me to lower the interest rate on a credit card THAT I DON'T HAVE !! Am so sick of the calls. Some days I get more than 3 calls before noon. I hope the "do not call" list works for me. Thanks.

If, businesses aren't following the rules how does consumers know before we buy into phony sells

Although I don't have a comment on the Hobby Rule, I will say that I enjoyed reading this article, particularly because you didn't place an apostrophe in "50s"! Well done!

Hi, wlogan. Thank you. We may not always get it right, but we try our best with the punctuation. (And yes, we're among the Old Schoolers who put a comma between the "Hi" and "wlogan.")

We need to stop being "politically correct" in trying to please everyone at the expense of terrible morals.
The government should not interfere with the Christian beliefs of its people.

Leave A Comment

Don't use this blog to report fraud or deceptive practices. To file a complaint with the Federal Trade Commission, please use the FTC Complaint Assistant.

PRIVACY ACT STATEMENT: It is your choice whether to submit a comment. If you do, you must create a user name, or we will not post your comment. The Federal Trade Commission Act and the Federal Information Security Management Act authorize this information collection for purposes of managing online comments. Comments and user names are part of our public records system, and user names are also part of our computer user records system. We may routinely use these records as described in our Privacy Act system notices. For more information on how we handle information that we collect, please read our privacy policy.