2 million dollar cent

It may be silver plated. I remember throwing cents into used photographic fixer and watching the silver plate out onto them.

 

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Anyone can claim anything. It has no value above ground, since it is illegal to own, as you cite. It does have value on the black market, but I have no idea what. I'm surprised the unnamed auction house didn't know better.

 

Sounds like an OK idea to me.

 

Ahhh. So it appears as if you're on the side of this whole "government property" thing which will enable them to add to their treasure chest of "Numismatic Wonders" despite the fact that many, many, many, Congressionally "Unauthorized" issues reside on the open market. Can you say "1913 Liberty Nickel? Can you say 1964 SMS Sets? Can you say Martha Washington Pattern? Can you say "Four Dollar Gold Stella"?

And yes, chasing down the 1933 Saint's represents nothing more than a literal waste of tax payer dollars because the coins were in fact "Congressionally Authorized" just like the 1932 coins before them. Between the time that these were minted and Roosevelt signed his Executive Order, there was ample opportunity for 1 to 1 coin exchanges which is validated by the fact that the US Mint said they had accounted for all the 1933 coins for destruction.

I'd rather they spend their time on chasing down all the missing armaments from the various Armories around the country. Or, perhaps get rid of the dollar bill and start "saving" $180 million a year.

 

I don't disagree with anything you've said, but what pisses me off is that the friggin government changes the rules of the game to suit themselves whenever they see fit.

Chris

 

So true, there has been absolutely no consistency with how the various issues have been dealt with.

 

Lets not highjack others threads to rant about the government. There are other forums for that. Lets stop here before it escalates and bad things happen. Thanks Jim

 

The point being that the "government" IS NOT chasing these coins because of some criminal action but are chasing the coins for their own non-sensical greed.
To line their pockets.
To put on display with a "Look what we got" attitude!

 

I'm sorry, but isn't this exactly what this thread is all about?

 

Yeah, what good are escalators if you don't use them?

Chris

 

Let's say that, hypothetically, someone found a 1974-D aluminum cent while searching penny rolls.

What would be the best way to have the coin authenticated and made available for collectors?

Does the Treasury Department have a reward program for turning these in (so that they could be sold to the public, not, shudder, melted down)? Or, would it make the most sense to go out of the country & consign it with an overseas auction house?

 

The T{PG's would authenticate it, seling it is the hard part. Private sale could be done but will net less money. Public sale in this country would probably result in the government stepping in to confiscate. Selling it in an overseas sale might be possible, but you still run the risk of a "friendly" government stepping in at the US government's request and confiscating it. (We did it for Canada at the ANA sale back in 1981 for a Canadian dollar struck in gold.)

 

Like it or not, that cent, if it turns up, is stolen government property. No one has the legal right to own it, sell it, and probably merely possess it.

 

How was the sale of the Lawrence specimen handled? Did the Treasury Department raise any objections on that one being publicly auctioned?

http://www.pcgs.com/news/pcgs-certifies-first-confirmed-1974d-aluminum-cent

 

It was tied up in court and I am guessing he ran out of money or assumed he would lose/not worth it since he ended up just giving the cent back and ending the lawsuit.

 

I can't find any details about that. Was there an article in CoinWorld or any other publication detailing what happened in the end?

NVM: I found the following:
https://www.justice.gov/usao-sdca/p...oyee-agrees-return-1974-d-aluminum-penny-mint

 

The Justice Department actually made a release about it.

https://www.justice.gov/usao-sdca/p...oyee-agrees-return-1974-d-aluminum-penny-mint

 

The Toven specimen of the 1974 P aluminum cent on the other hand has been graded by two different grading services and even put on display. Although the government has said it is their property, they have made no overt steps to secure its return. And they probably won't unless it is put up for public auction.

They seem to have a history of that. The 33 double eagle was sold privately for years and even openly advertised for sale. The government never stepped in until the first one was put up for public auction in 1944. Likewise they didn't get serious about the Lawrence coin until it was announced it was going up for public auction.

 

Interesting. I wonder why they draw such a line on auctions, but not private sales?