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 Replies: 41 / Views: 5,343 |
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Bedrock of the Community
United States
12437 Posts |
They can look at mine   |
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Pillar of the Community
United States
3755 Posts |
MAN I want one of those! His best work IMO.
Kelly, I did not notice that until you ratted yourself. LOL
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Pillar of the Community
United States
592 Posts |
Man, I'd hate to see what smokeriderdon would think if an actual leftist were president, let alone an actual communist. This is why I don't touch on politics with most coin people, since I find I'm very much on the far opposite end of the spectrum.
To the coin question.
I'd probably not do it, just because of the hassle that would inevitably occur. I don't begrudge the government that such an item was never released by the mint and thus technically remains theirs. I just wouldn't want to deal with it.
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Bedrock of the Community
United States
17884 Posts |
Sure. The government would not know you showed it to them, and PCGS would have no reason to turn it over to the government. Most likely if the government did find out about it it would be after it was already out of PCGS's hands. (And of course I'm going to use a pseudonym to submit it under and the PO box will be abandoned after the coin is received back.
Look at it this way, nothing happened with the 1974 aluminum cent when ICG and then PCGS slabbed it even though it is also illegal to own.
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Pillar of the Community
United States
2150 Posts |
Quote:
MAN I want one of those! His best work IMO Have you seen his new Kennedy halves? Pretty sweet IMHO! |
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Moderator
 United States
189502 Posts |
Moderator warning: Please keep the political opinions out of this topic. There will be no second warning.
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Pillar of the Community
Canada
1177 Posts |
someone take 5 seconds out of their day and explain the 1964 dollar, why is it illegal and stolen?
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Pillar of the Community
 United States
3453 Posts |
In 1964 mint records indicate that the Denver mint produced 316,076 silver Peace dollars. But they decided not to release them and were all supposed to be destroyed. Because they were not released to the public, they are legally the property of the US government. This is similar to what is going on with the 1933 $20 gold double eagles. So if someone were to show up with one, there is a chance (how good depends on who you talk to) that the Secret Service may confiscate it. |
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Pillar of the Community
Canada
1177 Posts |
weird, so do they know roughly how many are out there?
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Pillar of the Community
United States
1116 Posts |
Quote: CoinsKelly In 1964 mint records indicate that the Denver mint produced 316,076 silver Peace dollars. But they decided not to release them and were all supposed to be destroyed. Because they were not released to the public, they are legally the property of the US government. This is similar to what is going on with the 1933 $20 gold double eagles. So if someone were to show up with one, there is a chance (how good depends on who you talk to) that the Secret Service may confiscate it. Unless I'm mistaken all coins belong to the government even after they are issued because you cannot legally melt them down. However, if they were never issued then they by recourse they had to have been stolen. And if you have them in your possession then you are a receiver of stolen property. Then they are subject to confiscation and you are possibly suject to fine or worse. I would never like to try and go there in a court of law, but a case could be made that those of us who had criminal grandparents who didn't turn their gold into the treasury in response to Roosevelt's declaration could also be construed as evil doers for having some double eagles in your safes. Edited by ghostrider
01/14/2013 9:27 pm
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Pillar of the Community
United States
3453 Posts |
jakedacc, there is only speculation as to whether any made it out at all. It is part of the mystique of the coin. Quote:
Unless I'm mistaken all coins belong to the government even after they are issued because you cannot legally melt them down.
However, if they were never issued then they by recourse they had to have been stolen. And if you have them in your possession then you are a receiver of stolen property. Then they are subject to confiscation and you are possibly suject to fine or worse. I believe it is OK to melt down older coins so I am not sure how the government ownership would come into play. And you are correct, I was referring to them being issued when I said "released to the public". Edited by CoinsKelly
01/14/2013 9:34 pm
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Pillar of the Community
United States
1116 Posts |
CoinsKelly part of what I was referring to was the issue of the copper pennies which by law we are not entitled to melt down (should a body be so inclined).
True ownership of an item to me would represent my ability to melt a coin down should I desire. I don't think that the government ever really sanctioned the melting down of the silver coins that occurred during the 1980's. The melt value of the penny is in excess of $.01 and if I really owned the coin the goverment should not be upset if I melted it down. To my understanding of the current laws regarding pennies is that a person cannot legally melt these coin down. As such then I would not own the penny in my pocket.
Therefore I have legal possession, but not ownership. The government seems to have retained ownership ot it. I know that this seems extremely esocertic but it would also hold true for the nickel whose metal value is in excess of face value also. And truly it would also affect all coins whose metal value exceeds face value.
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Pillar of the Community
United States
3453 Posts |
Thanks for clarifying, I understand what you were referring to now.
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Pillar of the Community
United States
2734 Posts |
It has been rumored that six 1964-D Peace dollars may have been purchased by Denver Mint employees and taken outside of the Mint premises. Another can of worms opened by Daniel Carr's fantasy re-strike is that an owner of one of the contraband originals can claim it's the Carr version. Sure, PCGS and the Secret Service could tell the difference, (if they had the coin in hand for a close inspection!) but could casual observers pick out the re-strike's signature features?  |
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Pillar of the Community
United States
1116 Posts |
DNA what you say about Denver Mint employees legally (?) buying the 1964 Peace dollar goes back to the heart of my posting about ownership. If you purchase a coin (be it from either the mint or a bank) it should be yours until the cows come home. To me this does seem like a back door attempt at confiscation of private property. And if it is, the $10,000 a person would get from PCGS for inspection priviliges could be later turned around to a purchase price and the holder would now be the proud former owner of a modern curiousity. But I'm just enough of a conspirist to believe that there is a hidden agenda behind what could for all intent and purposes is a straightforward tit for tat. And if PCGS's offer is based upon conjecture we will never know unless the proud owned steps forward. For all purposes since it was never issued and the world knows that it was never issued then anything the supposed mint employees purchased would most likely be looked upon as a counterfeit and valued as such unless (here's the catch) PCGS documents the coin as genuine. Then it would have open market value of what it could bring at auction. |
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Replies: 41 / Views: 5,343 |
First Page
Posted 01/14/2013 01:02 am
