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 Replies: 24 / Views: 28,529 |
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Pillar of the Community
United States
1109 Posts |
Quote:
I might possess them but I don't own it. I mean, "Officer, they're not my pennies/drugs, I didn't make them or distribute them and I'm only "holding" them for my friend." That's why the law is for possession, not ownership.  |
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Moderator
 United States
189340 Posts |
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In the US the coins belong to the Federal Reserve, which is a separate entity from the government Still incorrect. If you have the coins, you own the coins. They are bought from the mint by the federal reserve, they are then bought from the FR by the banks. Ultimately, we buy them as a part of purchases (change). Because of seigniorage, the government never wants to see its coins again. Melt bans have nothing to do with ownership. The government has no problem telling us what we can and cannot our personal property. |
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Pillar of the Community
Canada
3692 Posts |
So you're saying that coinage belongs to the people. Who's correct?
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Moderator
United States
189340 Posts |
I am.  |
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Rest in Peace
 United States
1380 Posts |
Jbuck is (though it pains to say that)
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Bedrock of the Community
Australia
21788 Posts |
We seem to have an answer re coin ownership in the U.S., but
who owns Canadian coins?
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Pillar of the Community
United States
3640 Posts |
Anybody been sent to sing sing yet for a backyard copper BBQ ? Who are the enforcers on the recent No Cent melting law (U.S.) FBI, BATFE, EPA JB is correct. Your coin is your coin. You own it. Ridiculous law that holds no water. Period. Melt em if you got em. Foreign or U.S. Be pretty hard to prove what a molten pot of copper was once before. Also, on that link that was posted. I believe that the U.S. mint does not rely on any tax dollars to operate. |
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Moderator
United States
189340 Posts |
If there is any enforcement at all, it is probably only at the borders and in commercial industry.
There is nothing stopping someone from melting their coins and selling the metal.
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Pillar of the Community
United States
1109 Posts |
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There is nothing stopping someone from melting their coins and selling the metal. Yep. For proof, look no further than ASEs and Morgan dollars when people sell them for melt. It's yours. You bought it from the government. Do what you will with it (like collect it!). |
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Replies: 24 / Views: 28,529 |
First Page
Posted 10/07/2013 10:59 am
