http://txauction.com/details.cfm?itemnum=7526 It's 173 Troy Ounces plus 2 1922 Peace Dollars. Current bid is $3595, which doesn't seem like a premium at all. They apparently also have Pamp gold bars under spot in one of the other auctions on the site.
I wouldn't want to be a part of buying from them. Who knows in what way they obtained it. Some corrupt police forces are starting to seize cash under the so called suspicion that it may be drug related, even if they have absolutely no evidence, that is theft! I'd be worried they did the same thing with the bullion and would want absolutely no part in buying a lot like this from them.
Hmm.... You claim "they" do this with no evidence, but you seem to be accusing them of a crime also without any evidence. Fair is fair........
OK guys, this is a fairly political topic and it's starting to drift a little bit. Also, lets not bring up members not involved in the discussion. Thanks.
Assuming the bullion was seized unfairly, just assume. How is it any different than them seizing a bank account, brokerage, boat, porsche, etc? Maybe its just me, but I can differentiate between buying goods at a public auction and whether or not the person whom they were seized from had his miranda rights violated. I fully, 100 percent agree with your views tinpot if we were talking about stolen property or similar. To me, though, buying seized property is not the same as that. If they can prove it was taken illegally, they are entitled to the proceeds. In fact, wouldn't you be helping them out by participating in the auctions, to drive prices higher, just in case the cash needed to be returned to them?
I'd post the proof but it would probably get pulled for being political. But do some google searches and you can quickly find out, the worst offenses are in Tenn, but also happening in other states as well. Most people will deny what is happening around them, it always happens just read a history book.
Personally I won't buy goods that may possibly be either stolen legally (govt sanctioned), or illegally stolen. I just wouldn't feel right about it, it wouldn't matter to me whether it was precious metals, a boat, a porsche ect. If I didn't know what I know about the police forces across this country then I probably wouldn't mind, but after seeing what I've seen, there is just no way I'd ever participate in such an auction.
It was actually 173 ounces (162 + 10 Eagles + 1 Panda) + 2 Peace Dollars. I think it breaks down to $20.61 per ounce.
