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Big Big news....What do you think will happen ?

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grovey
Valued Member

USA
440 Posts

Posted 08/11/2005 7:38 pm

I read this today....I wonder what will happen to these 10 priceless pieces ?

http://www.usmint.gov/pressroom/ind...lease&ID=607

Edited by grovey - 08/11/2005 7:42 pm

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The_Cave_Troll
Valued Member

USA
218 Posts

Posted 08/11/2005 8:56 pm

I'm just glad I didn't pay $7 Million for a unique coin that now is one of 11 known! I expect that these will go on sale eventually or the "owner" wouldn't have contacted the secret Service.

"From time to time the Tree of Liberty must be refreshed with the blood of Patriots and of Tyrants."
-Thomas Jefferson

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crystalk64
Pillar Of The Community

USA
3147 Posts

Posted 08/11/2005 9:29 pm

It is my understanding all ten coins were turned over to the U.S. Mint. Personally, I would have never given them up as the government KNOWS there are more out there and they set a very bad precedent by allowing the last one to remain in private hands and be sold. Prior to that sale a collector would be worried but now, with a legal team, private ownership could be obtained even if you did have to pay off the MINT like the last owners did. I would have NEVER given them up. After all, the 1913 Liberty nickels are an even bigger fraud and farce than the legally made 1933 $20 gold double eagles.

Terry
SILENCE MUST BE HEARD

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Mike
Forum Uncle

Coin Community Supporter Supporter!

USA
2883 Posts

Posted 08/11/2005 9:58 pm

Terry , you hit it right on the head. There are more out there. We will never really know why all of a sudden someone comes clean with not one but "ten" legally made coins. What was worked out behind the scenes? I'm sure all the "missing" coins found their way into Politicians hands first. This has been almost a given throughout the history of the mint. The whole thing is a crock given current laws. Mike

Hot town summer in the city, back of my neck gettin' dirty and gritty. Cool cat lookin' for a kitty dressed so fine and a lookin'so pretty. All around the people lookin' half dead walkin' on the sidewalk hotter than a matchhead "Summer in the city","Lovin'Spoonful"

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Daniel J. Goevert
Valued Member

USA
157 Posts

Posted 08/12/2005 06:52 am

I noticed in the Mint release article that ACTING Mint Director David Lebryk was quoted.

Did I miss something? Is Henrietta H. Fore no longer the Director of the Mint?

Daniel J. Goevert
US Coin Values Advisor

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crystalk64
Pillar Of The Community

USA
3147 Posts

Posted 08/12/2005 12:56 pm

Henrietta H Fore is now HISTORY as she assumed a new government office. W has announced his new pick for mint director but she must be confirmed so we have an acting director for the present time. Actually aren't all government officials acting?

Terry
SILENCE MUST BE HEARD

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Metalman
Moderator

Coin Community Supporter Supporter!

USA
6533 Posts

Posted 08/12/2005 1:25 pm

What do I think will happen?

The same thing that Happens anytime ,Government, and Money are Mentioned in the same sentence !!

Rick

Touch not the cat bot a glove!
My CC Photo Gallery
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TQ http://www.treasurequestxlt.com/com...cting-forums
KNOWLEDGE- THE KEY TO COLLECTOR SUCCESS !
OLD SCHOOL IS THE RIGHT SCHOOL !

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catman
Pillar Of The Community

USA
954 Posts

Posted 08/12/2005 3:07 pm

Just to throw in my two cents. I think it will kill the vakue of the 1933 that has already sold. I really don't believe that it will again sell for that much money again.

I keep remembering the CC dollars that the Government decided to sell, for a profit, after 100 years. These 1933 may sit around for a while also. The threat of the government releasing one in the future is great. One of these days the government will find a reason to sell them. We already know it takes nothing to make them legal tender from the state they are in now.

I feel sorry for the people who paid 8 million for "the Only One". Yeah right.

catman

Catman

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Kyra
Pillar Of The Community

USA
867 Posts

Posted 08/12/2005 5:31 pm

That loud sob we all heard is the poor sap who paid big bucks for the "only" one- we all knew there were more out there!

So the big question is, why were these ten turned over? [:0]

Rachel [:p]

"Sometimes I think the surest sign that intelligent life exists elsewhere in the universe is that none of it has tried to contact us."

Bill Watterson-- "Calvin and Hobbes"

A.O.D., Knight of the Coin Table #38

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Gary Burke
Pillar of the Community

USA
3724 Posts

Posted 08/12/2005 5:38 pm

I would like to see the new pieces donated to major museums across the country, with the understanding that they are to stay there permanently.

ANA: 42203
Collect US, Canadian, British, Australian
Collector since 1956

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longnine009
Pillar Of The Community

USA
1246 Posts

Posted 08/12/2005 6:51 pm

It'll be interesting to see if the value of the legal one is affected by this. Even though the mint says it won't monetize the recovered Eagles, they still exist. They are still over-hanging.

"...we'll live happily forever,
so the story goes, but somehow
we missed out on the pot of gold..."

Styx-Come Sail Away

"Paper [money] is a mortgage on wealth that does not exist,
backed by a gun aimed at those who are expected to produce
it."--Francisco d' Anconia
Atlas Shrugged--Ayn Rand

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robocp
Valued Member
USA
146 Posts

Posted 08/22/2005 01:07 am

What a shame, Maybe the mint could just sell them, and invest in security, and this won't plague us again

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