Coin Community Family of Web Sites Join Thousands of Coin, Bullion, & Money Collectors
300,000 items to help build your collection! Join Thousands of Coin, Bullion, & Money Collectors Specializing in Modern Numismatics Coin, Banknote and Medal Collectors's Online Mall Shop for APMEX Bullion on eBay!Royal Canadian Mint products, Canadian, Polish, American, and world coins and banknotes. Vancouvers #1 Coin and Paper Money Dealer








Username:
Password:
Save Password
Forgot your Password?


This page may contain links that result in small commissions to keep this free site up and running.

Welcome Guest! Registering and/or logging in will remove the anchor (bottom) ads. It's Free!

Is It Illegal To Buy DPRK Coinage?

To participate in the forum you must log in or register.
Author Previous TopicReplies: 34 / Views: 5,733Next Topic
Page: of 3
Pillar of the Community

Canada
798 Posts
 Posted 12/30/2018  10:19 am Show Profile   Bookmark this topic Add JGG to your friends list Get a Link to this Message Number of Subscribers
If you buy DPRK silver or gold coins, are you breaking some sort of sanctions treaty or international law? I read about some hotshot investor who bought a few million dollars worth of these coins in 2013 at a coin show in Singapore. Just not sure if the treaties or laws surrounding that. I've noticed a few that are available here in Germany.
Pillar of the Community
Singapore
631 Posts
 Posted 12/30/2018  11:27 am  Show Profile   Bookmark this reply Add Numister to your friends list Get a Link to this Reply
I think you're talking about Jim Rogers, pretty sure it's not illegal in SIngapore but its kind of a moral dilemma as you know the profits from the coin sales
will benefit a despotic regime. Same if you go there for a holiday.
Edited by Numister
12/30/2018 11:28 am
Pillar of the Community
swamperbob's Avatar
United States
5362 Posts
 Posted 12/30/2018  5:25 pm  Show Profile   Bookmark this reply Add swamperbob to your friends list Get a Link to this Reply
When I was just a bit younger, about 50 years ago, I was a member of the coin club in my home town. One day one of the kids had a book full of South African Kruggerands (the coins belonged to his father and the kid lacked permission to have them). There were 48 coins in the book as I recall. It was only one of several nearly identical books that his father had.

At the time a KRand was officially worth $36 US but the coins were not allowed in the US for moral/legal reasons. Odd thing, while US citizens could not own these coins the CIA was actually using them to pay certain overseas operatives (who were not US nationals) who would not accept US currency. These people were performing a service that was IMO absolutely morally reprehensible, although it was justified in the eyes of the CIA. This fellow converted part of his own salary into KRands and brought them with him when his tour ended.

So anytime that anyone questions the "morality" of owning any coin, I see little point in following the current US custom since over time morals apparently change. In addition it seems that certain people are above the law and the government closes a blind eye whenever it is convenient for them to do so.

So I say go for it. No dillema in my view.

Edited by swamperbob
12/30/2018 5:29 pm
Pillar of the Community
Learn More...
tdziemia's Avatar
United States
7940 Posts
 Posted 12/30/2018  9:35 pm  Show Profile   Bookmark this reply Add tdziemia to your friends list Get a Link to this Reply

Quote:
So anytime that anyone questions the "morality" of owning any coin, I see little point in following the current US custom since over time morals apparently change.


Well, of course they do.
So, follow your conscience. Usually the best course, unless it conflicts with current law..
Edited by tdziemia
12/30/2018 9:37 pm
Pillar of the Community
Singapore
631 Posts
 Posted 12/30/2018  9:49 pm  Show Profile   Bookmark this reply Add Numister to your friends list Get a Link to this Reply
I guess swamperbob has a point, one man's terrorist is another man's freedom fighter, just a matter of perspective I guess.
That being said would you want to fund a regime that has nukes pointed at your country.

There was a famous saying by a statesperson; " There are no permanent allies or perpetual enemies, only permanent interests."
Pillar of the Community
ryurazu's Avatar
Australia
1333 Posts
 Posted 12/31/2018  12:47 am  Show Profile   Bookmark this reply Add ryurazu to your friends list Get a Link to this Reply
technically they are under sanction so be aware technically only food stuff and some other items are allow. Otherwise know that you bought coins for a regime that has public executions and extreme education camps (slavery) for mining that is probably how they are able to get the gold and silver.

Wow really Jim Rogers did he really buy 1 million in silver bullion from the North Koreans, probably got a great discount tho.
Edited by ryurazu
12/31/2018 12:51 am
Pillar of the Community
Learn More...
Palouche's Avatar
Spain
2752 Posts
 Posted 12/31/2018  04:57 am  Show Profile   Bookmark this reply Add Palouche to your friends list Get a Link to this Reply

Quote:
Otherwise know that you bought coins for a regime that has public executions and extreme education camps (slavery) for mining that is probably how they are able to get the gold and silver.


I've travelled and lived in many countries in my time mostly as an ONG and I'm Sorry but if you go by this statement you can rule out....
China, Russia, most of the middle East, Large areas of Central and South America, most of Africa, the majority of South East Asia, and quite a few Caribbean islands!.......I could state more but I think you get the gist!
Just a thought!
Edited by Palouche
12/31/2018 05:01 am
Pillar of the Community
Learn More...
scopru's Avatar
United States
5029 Posts
 Posted 12/31/2018  07:59 am  Show Profile   Bookmark this reply Add scopru to your friends list Get a Link to this Reply
with Paul.
Pillar of the Community
swamperbob's Avatar
United States
5362 Posts
 Posted 12/31/2018  12:45 pm  Show Profile   Bookmark this reply Add swamperbob to your friends list Get a Link to this Reply
Numister You say:

Quote:
would you want to fund a regime that has nukes pointed at your country.


I see the answer as an entirely personal decision. If you say yes that is OK. If I say no that too is OK.

In 1969 I joined the US Navy - my selected duty station was on a ballistic missile submarine. I know that the US has nukes with the capability of striking ANYWHERE on the planet.

Coins are for some people purely an investment vehicle. I suspect the person mentioned at the start of this thread is in this category. I am not speaking to investors because they are usually motivated by profit not morality.

For others, coin collecting is a hobby. It is a way to keep your brain working. IMO numismatics is not and should not be a politically motivated tool to be used by anyone for any purpose.

Historical artifacts like coins are inherently neutral.

I think we should be able to collect whatever we want.

I would prefer that collecting remains a neutral ground.




Pillar of the Community
Anaximander's Avatar
United Kingdom
709 Posts
 Posted 12/31/2018  1:16 pm  Show Profile   Bookmark this reply Add Anaximander to your friends list Get a Link to this Reply
Re Swampberbob's comments

I was stationed not too many years afterwards on an RAF base in the UK that had US made "tinned sunshine" available for worldwide delivery.

I would like to see coin collecting kept separate from any political/moral/religious views or ends. But now I am a cynic/realist ( the two seem to coincide nowadays ) recognising that there are some people out there who will use anything as a tool to further their own ends.

The images and text on many of mycoins are political statements of their time.
Edited by Anaximander
12/31/2018 1:17 pm
Pillar of the Community
Learn More...
Palouche's Avatar
Spain
2752 Posts
 Posted 12/31/2018  2:34 pm  Show Profile   Bookmark this reply Add Palouche to your friends list Get a Link to this Reply

Quote:
I would like to see coin collecting kept separate from any political/moral/religious views or ends




Quote:
Historical artifacts like coins are inherently neutral.

I think we should be able to collect whatever we want.

I would prefer that collecting remains a neutral ground.


...Theres your answer....Paul
Edited by Palouche
12/31/2018 2:36 pm
Pillar of the Community
swamperbob's Avatar
United States
5362 Posts
 Posted 12/31/2018  2:46 pm  Show Profile   Bookmark this reply Add swamperbob to your friends list Get a Link to this Reply
Anaximander

These days I far prefer "Canned Sunshine" (orange juice) that comes from Florida.
Pillar of the Community
1c5d7n5m's Avatar
Belgium
1185 Posts
 Posted 01/01/2019  08:33 am  Show Profile   Bookmark this reply Add 1c5d7n5m to your friends list Get a Link to this Reply


hobby & historical context are key elements that should support freedom
Pillar of the Community
ryurazu's Avatar
Australia
1333 Posts
 Posted 01/02/2019  06:14 am  Show Profile   Bookmark this reply Add ryurazu to your friends list Get a Link to this Reply
@Palouche go watch the interview of a person who escaped from North Korea, is it worse than China, or Russia or even the Saudi. I mean are you a person who would buy silver coins from a terrorist group? I would class North Korea as close to the terrorist group, but obviously, I'm not saying you might not want to buy from say a North Korean citizen. I'm just saying if you shouldn't purchase large quality from a regime goon, what do you think they are going to do with your money?

Nothing to do with Politics, don't use a straw man's argument.
First, they are under sanctions (is China under sanctions)
Secondly, they use any! method to get foreign currency have been known includes fake coins and real coins (usually counterfeiting).
To fund their foreign operations.

I mean its a choice up to you want you to want to do with your money.

Edited by ryurazu
01/02/2019 06:31 am
Pillar of the Community
Learn More...
Palouche's Avatar
Spain
2752 Posts
 Posted 01/02/2019  07:21 am  Show Profile   Bookmark this reply Add Palouche to your friends list Get a Link to this Reply
OUCH!

@ryurazu... I do apologise! I wasn't having a go at you personally, thought I was just stating the obvious!

I don't feel I need to watch censored TV media, I lived there for 8 weeks many years ago( it was long enough), as I have done in all the countries I mentioned in my previous post plus others...Which is the worst?,where do you want to draw the line? Political sanctions, there are always ulterior motives, believe me!

Anyhow sorry to have riled you, it was quite unintentional!..Paul
Pillar of the Community
augsburger's Avatar
Germany
1063 Posts
 Posted 01/02/2019  11:46 pm  Show Profile   Bookmark this reply Add augsburger to your friends list Get a Link to this Reply
It's an interesting debate.

I met a guy who takes tours to North Korea, a Kiwi. I said that perhaps we shouldn't even go to North Korea, he was a little drunk and obnoxious at the best of times. He got rather angry saying it helped these poor people earn some money.

From my point of view, yes, the North Korean regime is particularly bad to its own people. However there are various countries out there which engage in very questionable actions, such as the US, does this stop me getting US coins? Not really.

I live in a country where the government is committing genocide against the population (at the very least it's cultural genocide of Tibetans and Uighur Muslims, and even genocide of its own culture, which started in the times of Mao.) I don't stop living here because of that (I might leave at some point because of the pressures they place on foreigners when getting visas and potentially because of this new social points system they will introduce next year).

There are lots of moral points, but then again I'm from a country that has treated people badly, invading countries, keeping down Catholics and the like.

At some point you just get on with your life, my buying North Korean coins is hardly going to be the difference between keeping that state going or not.
  Previous TopicReplies: 34 / Views: 5,733Next Topic
Page: of 3

To participate in the forum you must log in or register.



    




Disclaimer: While a tremendous amount of effort goes into ensuring the accuracy of the information contained in this site, Coin Community assumes no liability for errors. Copyright 2005 - 2026 Coin Community Family- all rights reserved worldwide. Use of any images or content on this website without prior written permission of Coin Community or the original lender is strictly prohibited.
Contact Us  |  Advertise Here  |  Privacy Policy / Terms of Use

Coin Community Forum © 2005 - 2026 Coin Community Forums
It took 0.38 seconds to rattle this change. Forums