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Replies: 9 / Views: 2,459 |
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Valued Member
United States
344 Posts |
Edited by mishap-coins 12/19/2006 12:51 pm
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Rest in Peace
United States
2684 Posts |
Hi MC (No, I'm not following you around the forum. It just seems that way.  We seem to have very similar interests and you post interesting topics.  .) NY Governor-Elect Eliot Spitzer when NYS Attorney-General certainly knocked National Collectors Mint down where it belongs. I'm no longer a legal resident of NYS, but I'm proud that someone from back home had the cahones to nail NCN. Unfortunately, the problem has not yet gone away. NCM still sells the Tower "coins" (tokens, actually) although has now omitted the claims for which it was fined and, as far as I know, no longer advertises on TV although I've seen their ads in veterans' and other published magazines. NCM also still makes the dubious claim that the silver (and other metals) came from the World Trade Center although it has never explained how such metal came into its possession. As a vet of 9/11, I tend to be incensed by such a claim which, if true, would mean NCM was a participant in looting. A neighbor friend of mine down here in AZ brought over one of the WTC tokens struck by NCM; he had been given it as a gift. I'd been tutoring him on real coins versus privately minted tokens, so he knew its actual value was low and NCM's claims either unverifiable or questionable at best, but he wanted to show it to me anyway. No doubt, it's a pretty piece of metal, but in my not so humble opinion, absolutely worthless as a numismatic item of interest. It might gain a little value by, oh, say the year 2150.  Or not. Interesting reference to ebay fraud cases. I hope it might do some good, education-wise, but judging by the lack of comments/rebuttals, I fear it's just another gripe site with no real teeth. Fred
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Bedrock of the Community
United States
12437 Posts |
quote: Originally posted by Morgan Fred
NCM also still makes the dubious claim that the silver (and other metals) came from the World Trade Center although it has never explained how such metal came into its possession. As a vet of 9/11, I tend to be incensed by such a claim which, if true, would mean NCM was a participant in looting.
I can explain how they might have obtained the silver. The COMEX bullion repository vaults were located in the basement of the WTC. Those vaults held in excess of $500 million in mostly silver and gold (in the form of bars and Eagles) but also platinum and palladium. Some of the bullion was for open trading on the commodities markets but most of it was stored for clients. Eventually the bullion was recovered. Some of the clients took possession of their bullion and then sold it off for a premium(like the bloodsuckers they were  ), complete with paperwork proving it was stored in the WTC COMEX vaults on 9/11/01 and subsequently recovered. More than likely, NCM purchased some of this "papered" bullion to use in their "coins". The basis of the lawsuit was NCMs contention that it was issued by a governmental entity and loose advertising that obscured the true amount of silver, not the fact that the silver came from the WTC. If they faked the origin of the silver, they would have many more people besides Elliot Spitzer after them.
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Valued Member
 United States
344 Posts |
Fred, I knew you weren't and I find alot of this educational and very interesting ! I imagine a movie could be made about the underworld of coins. Seeing how you are familar with NY I thought you would enjoy this below seeing how part of it deals with Wall Street. The link below is very interesting about money receieved from recent wall street settlements used to fund this program. I imagine it would be great to have a pbs channel that one can go to and keep advised of the recent scams etc. I would hope one day one of the judges in any of the coin scam cases sets prescedent from there on out that makes each person convicted pay to a fund to do exactly as the show below.  Money would be well spent informing the masses and not just the ones that read it in law cases or a newspaper. Most miss them. Every show also includes a "Scam Alert" report from around the country to help people avoid the most common frauds. http://www.moneytrack.org/pressrel.htm
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Valued Member
United States
171 Posts |
I was commissioned by National Collector's Mint (NCM) to design the Freedom Tower "dollar" artwork. I did the design, but I disagreed with their marketing campaign, so I severed any ties I had with them. As the designer, I still receive email questions now and then about the various "Freedom Tower" issues. So I recently put together a virtual exhibit documenting them: http://www.designscomputed.com/coins/ftsd.htmlI believe that the number one reason that NCM got in trouble for this is that their claims of "legal tender" status for the coins was unlawful. The Commonwealth of the Northern Mariana Islands (CNMI) is a protectorate of the United States, and can only use US Dollars as legal tender - they do not issue their own currency. A corrupt CNMI government official made an illegal deal with a licensing company to authorize the NCM issue. The US Government seems to let a lot of things go by, but when it comes to infringement of their monopoly on issuing currency, they get very strict. Of course, another aspect of the affair is the large volume of complaints received by Spitzer's office. If you study the original NCM Freedom Tower Silver Dollar ads, they state: "Created With WTC Recover Silver". Of course, the "Created With" part was in small print. This statement could legally allow them to do the following: 1) Buy one of the WTC recovery PCGS-certified Silver Eagle coins on ebay. 2) Melt that coin in a large batch of silver. 3) Use that silver to plate the coins.
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Valued Member
 United States
344 Posts |
Seems to me I would want to protect myself before getting involved with anything that I would sign my name to that has anything to do with coins dealing with a tragedy where lots and lots of people died. With that being said it seems it makes you look like you may of known prior to its release that the coin concept was to use a very tiny tiny portion of a graded known silver coin though not how it was going to be advertised? Fine Line Here ? I don't know anything other than what I read though the appearance hurts when associated at any level.Is that your art that is still used on the coin ? And are you employed at SoftSky Inc.in Sheridan.Wyoming. These companies like SoftSky Inc. should have restraints when it comes to making tragedy coins etc. before the marketers gets ahold of them. Seems the claim of the coins silver with who but themselves to guarantee in which they only used tiny tiny portions of the silver from that coin from the slabs. The medallion is an inexpensive metal alloy plated with silver that is about one-third the thickness of a human hair.Spitzer says the coin was worth less than a penny. The company valued the coins at 39 dollars, but sold them at 19 dollars and 95 cents. The company took in $11 million selling the coins.Fool me once I doubt I will be fooled the next time. Guess in my opinion of those like NCM that spend all their time mind bending scheme to make money off a terrible attack to prey on those by making false misleading statements is in my opinion thugs or what the government calls fraudulent and a crime. They went to extreme measures to make this scam work. They have to keep selling most likely in my opinion because of the inventory left on the shelves I would presume before conjuring up the next scheme.
Maybe the next coins will be for each of all the 4 planes that crashed.
With the figures of 11 million dollars and more the temptation for some is just to overwhelming I suppose not to make monies off people passing away. I have written the above with curiosity and wonderment.
dcarr your art is fabulous and it is awful it was used in that way and hopefully in the future you will legally protect yourself before you sell your art to someone that has criminal plans. Maybe by having some type of clause in your contract so you can remove the rights to your work and be compensated for damages if used illegally.
Edited because of article on link by dcarr.
Edited by mishap-coins 12/20/2006 1:25 pm
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Valued Member
United States
171 Posts |
First of all, my post about how WTC silver could have been used is pure speculation. I did not (and do not) know the details of how the coins were manufactured. I'd never heard of "Soft Sky" until after Spitzer's action. I've never worked with them.
When commissioned to design the "coin", I was not informed of how it would be marketed or what it would be made of, only that it would be an authorized non-circulating legal tender of a foreign country. No mention of CNMI was made at the time, and the small CNMI logo was not part of the artwork I submitted - it was later added to the coin by the manufacturer. And since the proposed design did not say "United States of America", it was perfectly legal to mint it in the form that I had designed.
I was also told that a portion of each sale would got to 911 charities (which was true, but I don't know the size of that portion).
Again, I only supplied an illustration. I had nothing to do with making the dies or minting or selling the coins.
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Moderator
 United States
23522 Posts |
You are far from the first artistic talent to be abused so by a commission. I sometimes think that for every altruist, there are a dozen thieves.
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Valued Member
United States
171 Posts |
By the way, the main intent of the "coin" was to commemorate the groundbreaking for the new Freedom Tower, and not so much the original attacks. I'm not saying that was a wise thing to do, but that is the way it was. NCM still sells the coin (legally) as a legal tender issue of the Cook Islands. The artwork is similar to my original. I have no control over that. But NCM is not allowed to use my name anywhere. And one last thing. Here is my reply to NCM and the terrorists: 
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Valued Member
 United States
344 Posts |
Like I said your art is fabulous and your depiction picture towards those that abused your talent is well received by me and I'm sure alot of others. Maybe the government can make some of these defiant coins and send them to each Al Quida member. They would go with the deck of cards that are in play during this war.
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Replies: 9 / Views: 2,459 |
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