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 Replies: 10 / Views: 2,070 |
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Valued Member
United States
127 Posts |
The following is an article excerpt from CoinweekIt looks like Heritage might get to auction that unique 1974-D aluminum cent after all.Intended to be one of the highlights of Heritage Auctions' 2014 Central States Numismatic Society Convention Sale, a 1974-D aluminum cent pattern once belonging to an assistant superintendent at the Denver Mint, has been tied up in litigation for more than a year. On March 26, a United States District Court Judge issued a ruling that may clear the way for the coin's sale. In 1973, with copper bullion costs on the rise, the U.S. Mint authorized a series of experiments designed to test the feasibility of alternate planchet compositions for the one-cent coin. It was during these tests that the U.S. Mint struck more than one million aluminum one-cent coins, all bearing the date 1974. Several hundred of these experimental patterns were shown to Mint and Treasury Officials. Members of Congress were also presented the coins. Ultimately, Congress rejected the composition and nearly all of the 1974 patterns were returned to the Mint and destroyed. However, a few are known to have survived. One resides in the National Numismatic Collection at the Smithsonian Institution in Washington, D.C. Read the Entire Article
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Pillar of the Community
United States
604 Posts |
Great article!  It's good to know it will be available to a collector who can afford it. However, it makes me wonder how much the government spent (of our money) in lawer fees trying to aquire one cent? Edited by Nickel Guy
04/07/2015 9:43 pm
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Moderator
 United States
187446 Posts |
Great article.  Quote:
Whether it brings as much at auction as the government spent trying to seize it is another story. Makes you wonder why, if they wanted it so bad, they didn't just bid on it like everyone else. Nice.  |
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Pillar of the Community
United States
6130 Posts |
Very good read! I am shocked that the government is trying so hard to seize a coin that will literally create hundreds of thousands if not millions of dollars out of thin air--they normally would be 110% behind it.
I guess that's just bureaucracy for you.
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Valued Member
United States
115 Posts |
I wonder, what, if anything, this means for the 1933 Saints?
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Pillar of the Community
 United States
4587 Posts |
It's a terrible article. Until you get several paragraphs in, it makes it sound as if the case was actually decided. All that actually happened is the judge rejected a Hail Mary type claim by the government seeking to avoid a trial and therefore the actual determination of the facts.
So the two owners of the cent get their day in court and the government gets a chance to show its side.
The only way the judge would have granted the motion for summary judgment was if the facts presented so far, taken in their absolute best way for the owners of the coin could not possibly have allowed them to win. If there's even one question of fact that might go their way then the motion gets rejected.
It doesn't mean the case has been decided it just means that they have decided which coin to use for the coin toss at the beginning of the game.
-----Burton 50+ year / Life / Emeritus ANA member (joined 12/1/1973) Life member: Numismatics International, CONECA Member: TNA, FtWCC, NETCC, EveryCountry (online) coin club Owned by three cats and a wife of 40+ years (joined 1983) Author: 3rd Edition of the Sample Slabs book, https://www.sampleslabs.info/ |
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Bedrock of the Community
United States
12804 Posts |
Quote:
Whether it brings as much at auction as the government spent trying to seize it is another story. Makes you wonder why, if they wanted it so bad, they didn't just bid on it like everyone else. Look at the immense bulk of our tax code and you'll immediately understand the "why". Quote:
Should the government decide to no longer pursue the issue, the controversial 1974-D cent pattern will be cleared to make an appearance on the auction block no worse for wear, and perhaps even more coveted due to its complicated legal history. Yes, there's a big "if" there... |
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Pillar of the Community
United States
2543 Posts |
As I remember, some of the coins were given to certain senators/reps on the banking committee and others for examination and approval. When it was decided not to use them, the gov't asked for them all back, which most congressmen did. But as I remember, there were some that did not.
Again, as I remember, VP Joe Biden was one of the congressmen that did not. He has two of them I think. I am sure he will be watching the case and subsequent auction very closely.
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Bedrock of the Community
United States
11951 Posts |
Thanks for posting the article .... It was a good read. Win one for the collectors |
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Moderator
United States
23522 Posts |
Quote:
Again, as I remember, VP Joe Biden was one of the congressmen that did not. He has two of them I think. I am sure he will be watching the case and subsequent auction very closely.
Not surprised. I met him once, years back, and my takeaway was, "Holy Cow, this guy is some sharper than he looks." |
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Pillar of the Community
United States
4587 Posts |
Denco - the ones given to the congresscritters werr 1974 plain (philly). This is a 1974D which according to mint records doesn't exist - but they want it back anyway ...
-----Burton 50+ year / Life / Emeritus ANA member (joined 12/1/1973) Life member: Numismatics International, CONECA Member: TNA, FtWCC, NETCC, EveryCountry (online) coin club Owned by three cats and a wife of 40+ years (joined 1983) Author: 3rd Edition of the Sample Slabs book, https://www.sampleslabs.info/ |
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Replies: 10 / Views: 2,070 |
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Posted 04/08/2015 12:21 pm
