Question about a gold coin on Pawn Stars

I thought those were also private issues. Obviously US coins are not my forte. =)

 

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The issue with the gold coin on pawn stars is 1) it was gold and they were paying him based on the value of the gold. 2) the counterfeit issue doesn't come into play if it's melted down for said gold. The far worse issue here is that even our government cannot decide and stick with conditions of counterfeit coinage or enforcing those conditions. Private and territorial pieces be it Pan Pacifics, Kellogg & Co, or Humberts were used as real money yet they were never minted by our governement and never deemed counterfeit. Despite that more often than not the exact same obverse and reverse images as real U.S. coinage was used. If that's not the very definition of counterfeit I don't know what is. Fast forward to today's times and Liberty dollars same premise yet the govenment struck back and demonized them. The notion of counterfeiting and whether the gov't. will attack you for producing/having it is dependant on the domestic volitility, mental insecurities, and personal frivolity of whoever is in power at any given point in time. In other words the United States is kind of like the Jack Sparrow of the world. We don't plan for anything we just make it all up as we go along.

 

Yeah Dannic113, indeed there are many ambiguities in laws and how or whether they are enforced.

 

The Pan-Pac $50 Round and Octagonals were struck by the San Francisco Mint. They are commemorative issues.

 

I wish I hadn't sold my St. Gaudens when I did:rollling:

I saw that new "Cajun Pawn Stars" show. On that one, a guy brought in 2 pairs of $5000 and $10,000 notes. The broker offered him about 3/4 of a million bucks for one pair. The guy didn't take it!

 

No. He SAID they were worth $750,000 and he offered $500,000, then the owner kept saying he felt they were worth one million dollars, so the guy said "$525,000" and the owner said "One Million" and the pawn guy said "$550,000" and the owner said "$1,000,000" again, and the pawn guy said $575,000" and the owner said "$800,000" (the owner dropped it $200,000) but the pawn guys wouldn't budge on $575,000 so the owner rejected the offer, and instead, used them to back a loan or something from the pawn guys, where, if he did not pay them the $20,000 loan by a certain time, the pawn guys would get to keep the bills. But, "I" on the other hand would not even leave them behind, after only being handed a temporary $20,000 for them.

I asked my dad "How the H:devil:ll could the pawn guys offer so low on something worth so much?" I mean $500,000 for something worth at least $750,000?! and my dad said, "That's just the way pawn shops are"

 

pawn shop are rip offs :devil:

 

Your father is right. Pawn shops make their money by buying things dirt cheap and selling them for much more. (And they make a killing with their incredibly high interest loans on pawned items.)

Why would anyone take something work $1 million to a pawn shop to sell (except to get on televion)? You KNOW the pawn shop is not going to offer a fair price. OK, fast cash (and maybe getting on television).

 

they're for dumb people. film at eleven.

 

A True Experience!

I personally have experienced the condition of purchasing an expensive 1909 MS63 agreed Gold Double Eagle raw condition coin. It was a virtually flawless "sight seen" rare date coin which I intended to submit for TPG certification.

The perfect appearance bothered me, so I sought the opinion of a Numismatic estate appraiser, who hadn't an opinion other than it was of a very high grade condition without any appearance of wear. He suggested that he show the coin to the other members of his coin affiliation. They came back with an inconclusive finding, suggesting that the coin be submitted to a TPG. The appraiser said that he could do same with other submissions, without a charge other than shipping. The coin came back with an inconclusive finding of ineligibility for grading. I didn't want to sell a coin which no one would confirm or deny as authentic.

I eventually had the coin measured, weighed, and tested for content. It was determined to be of correct size, weight, and produced of 22 Kt Gold.

I purchased a 14 Kt Gold bezel, inserted the coin, and placed it in auction on eBay, guaranteeing correct composition certification. It sold in a "no reserve" auction for a slight premium above the Gold value, but at considerable loss to me. It taught me to never again purchase a Gold coin without provenance knowledge, or TPG certification.

I believe you'll find it illegal to exactly copy any "authorized" currency.

 

The irony of Henning's nickels is that he didn't end up making something with a large profit margin - given the economics of creating the dies, the blanks etc. it ended up putting him in the hole a bit. I wonder if the inanity of creating a counterfeit nickel played into the slapped wrist sentence?

And if you think about it, but for the divot in the R of PLURIBUS - if he had made most of the coins dated 1946 or 1947 you wouldn't be able to easily discern the difference betwixt his coins and the US mint coins. I have wondered if he deliberately placed that divot on the R to make them slightly different - sort of like the Omega symbol on the Omega counterfeit $20s - a sort of maker's mark.

In my nickel roll searching I keep hoping I will find a Henning nickel. I know people that have, and I am jealous.

 

Who says they are worth $750K? Got any sales records to back up that claim? What are they worth individually? How many people are there out there who collect paired sets like that? I know there are some who do it in the lower denominations, but at that level you can probably count them on the fingers of one hand and have several fingers left over. That means a VERY thin market.My guess on value would be to take the individual values and double that and that's probably the top price. And it would not surprise me if the pair is worth a fair amount LESS than the $575K he offered.

Why not?

 

Reading comprehension helps, too!

Chris