Investigators say they began the probe in January after a December transaction was deemed fraudulent when a rare 1921 Canadian coin was discovered to be fake.
“Depending on its condition, the value of this coin can far exceed the value of $25,000,” Niagara Regional Police said in a release.
“Upon receiving the coin from the seller, the coin was determined to be counterfeit.”
The 61-year-old accused was arrested on Tuesday and is facing charges of fraud over $5,000 and counterfeiting.
He was released on a promise to appear at a future date.