Why is He So Popular?

Just like Love Tokens, elongated cents, coin pot miniatures and coin jewelry. Some of those items' values increased due to the "damage".

 

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And even if he uses some virgin blanks for his tokens, they still have a major difference for the date. Anyone who knows the littlest of info on US coins knows that certain 'coins' he duplicates are not minted in the years he has on them.

 

The reason that so many coin guys lose their minds over the Carr 1964-D Peace dollar is that they're so emotionally invested in real ones actually existing.

 

I think that's different, though. In that case, he would be "diluting the money supply", by converting something with no face value into something that has a face value.

 

They don’t need to worry about that. Those would never come out in the open on US soil after what happened with the double eagles.

 

@-jeffB And how is that different from selling blank planchets? Or every coin collector who CRHs, pulling our coins from the money supply? Is that not also 'diluting the money supply'? It us not like he wants these to be in the money supply.

 

NEVER underestimate the extent of human stupidity.

 

So when Grandpa dies and the Grand kids (unknowingly) try to cash in his collection at the bank for face value (same size and weight as a Peace dollar) will they get arrested?

 

Not if the bank teller knows its bullion melt value. It doesn't lose that.

 

He has a legal theory, if it ever gets tested in court we'll know if it is a loophole. So far his claim is it must be legal since they haven't tried to shut him down. That's kind of like speeding or reckless driving is legal as long as you don't get pulled over.

Bernard Nothaus was convicted of counterfeiting because they claimed his coins could confuse people into thinking they were real US coins. And they look nothing like any US coin. Of course his problem was he intended his coins to actually be used as money.

But counterfeit or not (and I don't believe they fit the definition of counterfeits) I do believe that they do fall under the requirements of the Hobby Protection Act as being a Imitation Numismatic Item and therefore need to be marked COPY.

 

DING! DING! DING!

 

I like the real ones, even when they cost more than melt value.
I have three pieces of peaces.

 

I like the real and the overstrikes on real. You can like one, both or neither. Not everyone has the same taste...........thankfully.

 

If you're pulling stuff out of circulation, you're reducing the money supply. If you're putting non-coin stuff into circulation, you're increasing the money supply illicitly, by adding bogus money to it -- you're "diluting" it. At least, that's the reasoning behind the laws, as I understand it.

I have no idea what the legalities are of the Mint releasing some blank planchets in bags, and someone successfully spending them.

 

But he is not putting money into circulation.

 

We all be takin' it out, and thass okay! This ain't the Old West, there, buckaroos! Da gummint wants its monopoly held tight.

 

I'm impressed that this discussion has gone on for two pages without a total meltdown. UH-MAZING!

 

"Books" ain't checked in yet. Great guy, but this topic makes his brain go mushy.

 

I think a lot of brains go mushy on this topic.

 

Wow.... That’s for sure. I had my baptism by fire early on in my CT membership with my own innocuous comment on the subject. Boy did I learn the hard way!