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 Replies: 13 / Views: 1,361 |
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Pillar of the Community
United States
792 Posts |
Do we actually own our coins, or are we merely "renting" them from the U.S. Treasury? And if it's the latter, then what's stopping them from taking your most prized coin/collection back?  |
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Valued Member
138 Posts |
Hi, Nothing can stop them from taking your coins.
Edited by Homer1
11/28/2007 4:33 pm
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Pillar of the Community
United States
1219 Posts |
I believe this was tried back in the thirties with gold coins. Didn't work then, won't work now!!
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Pillar of the Community
United States
1713 Posts |
They can't take what they can't find or don't know you have.
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Pillar of the Community
United States
1952 Posts |
Let them try. maybe if they tried then we would do what we should have done years ago. " take Charge"
when you are afraid of your Government they will run you. when your Government is afraid of you then you run the show. period
Gary
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Bedrock of the Community
United States
14454 Posts |
quote:
I believe this was tried back in the thirties with gold coins. Didn't work then, won't work now!
You would be surprised how well it actually did work back then, millions and millions of coins were lost forever back then and they didn't keep count of exactly how many they melted so we don't really know what the actual percentage is left now but you can bet they took a big hunk out of the mintage of each of the coins that they were melting |
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Valued Member
138 Posts |
Don't Under estimate the secret service.
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Member
United States
703 Posts |
quote:
"when you are afraid of your Government they will run you. when your Government is afraid of you then you run the show. period
Gary"
The current administration is and has been trying to scare the American people for 6 years now
That is how they have looted the middle class with some 29% still supporting the robber barons and war profiteers, it all in the scare tactics.
error
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Moderator
 United States
6563 Posts |
as far as bills are concerned....it's not even possible. There are more US notes outside of the US then inside as goes my understanding of the Chinese mafia and other various international drug trafficking organizations
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Valued Member
138 Posts |
Let's not forget that the mint confiscated several 1933 $20 Saint Gaudens to be authenticated by the mint recently from Europeans. Also, Secret Service had confiscated the 1969 S Double Die Lincoln Pennies From An American when they were discovered; but subsequently returned to owner as being Genuine.
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Bedrock of the Community
United States
17884 Posts |
The 10 1933 double eagles were confiscated from an american not a european, and while a couple of the 1969-S doubled die cents were eventually returned, most of them were destroyed. quote:
as far as bills are concerned....it's not even possible. There are more US notes outside of the US then inside as goes my understanding of the Chinese mafia and other various international drug trafficking organizations
Of course it's possible, the same way other countries do it. Issue new notes and announce that the old notes will be demonitized as of the 15th of next month. After that time they have to be presented in person at a Federal Reserve Bank. And of course if you have a large amount you're going to have some explaining to do about where all this money came from and of course there will be tax forms etc. (And you make sure that the customs people know about this so they can search for undeclared cash in excess of 10K being brought into the country which they can then happily confiscate. Edited by Conder101
11/29/2007 6:07 pm
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Pillar of the Community
United States
1247 Posts |
http://www.coinworld.com/news/051704/bw_0517.asp"Sen. Alan Bible, D-Nevada, went so far as to introduce a bill that would have given the secretary of the Treasury commissar-like authority over coin dealing, declaring what coins were of 'bona fide' numismatic value. An alliance of dealers and collectors rose in opposition and the bill, which had never been sought by the Lyndon Johnson administration, died."-- CoinWorldNow that would have be fun huh? Some puke in the treasury deciding what is and what isn't numismatical.
Edited by longnine009
11/29/2007 6:04 pm
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Bedrock of the Community
United States
17884 Posts |
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Now that would have be fun huh? Some puke in the treasury deciding what is and what isn't numismatical.
Oh yes is WAS! That was just the headache that collectors of gold coins had to go through between 1934 and 1974. Have to get an import license for every gold coin you bring into the country. Wasn't too bad for the US coins since they had been given a blanket approval for any US gold coin minted before April 5th 1933. Most foreign gold before that date also got the OK, but for anything AFTER that date it had to be approved as being "Rare and or interest to collectors" on a case by case basis with the decision not coming from collectors or dealers but from government bureaucrats. Before 1961 by the Bureau of the Mint and after 10/9/61 by the Office of Domestic Gold and Silver Operations (ODGSO). And the man with the final say was Director Leland Howard until 1967 and then Thomas Wolfe. The problem was the approvals were fairly arbitrary, and inconsistant. A coin which was approved last time a license was applied for might be denied the next time. There was no list of approved coins. If Howard didn't like you, your licenses were denied. And in general Howard did not like gold collectors. |
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Pillar of the Community
United States
1247 Posts |
Indeed, the same thing would have happened to all coins if the Looters bill in disguise had become law. If the treasury could have decided what coin collectors could collect, then what would become of the coins they
already owned but were "non-compliant?"
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Replies: 13 / Views: 1,361 |
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Posted 11/28/2007 6:08 pm
