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<p>[QUOTE="dcarr, post: 1418414, member: 4781"]Because I do not <i>claim</i> that they are legal tender. Their legal-tender status is not certain because there is no relevant law concerning this situation. This is new thing - there is no precedent for it.</p><p><br /></p><p><br /></p><p><br /></p><p>I already wrote to the US Mint and Federal Trade Commission (twice) about this, outlining my potential scenario <i>before</i> I ever offered any over-strikes. The example scenario I outlined in my letters was the "1964" over-strike silver Franklin Half Dollars. They never replied. Coin World picked up the case and inquired directly to their contacts at the US Mint. The US Mint simply replied that it wasn't up to them, and that enforcement of related laws lies with the US Secrect Service, and that Coin World should contact them. So Coin World did. The Secret Service briefly looked at the issue and replied that they do not <i>interpret</i> the laws, they only enforce them as directed by the US Attorney's Office, and that Coin World should contact them. Coin World then discontinued their efforts, but I contacted a representative at the Denver US Attorney's Office. I explained the proposed situation and he just said that they do not interpret laws for the public, and that I would have to hire my own lawyer to look into it. So I contacted a very well-known numismatically-inclined lawer. He briefly studied the issue and said that he didn't know, but that he could research it further. I asked what that would cost, and his reply was "a pretty penny" (figuratively, not literally).</p><p><br /></p><p>So, there you have it. Nobody knows. This is why I state on my web site not to use my over-strikes as legal tender - because nobody knows if they are or aren't. Either way, it is mostly a mute point since the issue price, market value, and scrap value are all higher than the face value.</p><p><br /></p><p><br /></p><p><br /></p><p>See above. Been there. Done that.</p><p><br /></p><p><br /></p><p><br /></p><p>If there was no law, it can't be "illegal". How do you think the government can enforce the "ban" on scrapping cents and nickels without a law ?</p><p>There is a law on the books that provides the Treasury Secretary with the power to make monetary regulations, enforceable as law. And one of those recent officialy-enacted regulations is a ban on large-scale scrapping of cents and nickels. So there is an indirect (but still valid) enforceable law probiting melting cents and nickels.</p><p><br /></p><p><br /></p><p><br /></p><p>Here is just one example - a "1964" over-struck on a 1922 Peace Silver Dollar ("arrows" not needed). I can provide many more pictures, if necessary.</p><p>[ATTACH]172581.vB[/ATTACH]</p><p><br /></p><p><br /></p><p>Sure it does. It is evidence of what people think. You claimed to know what "most people" think. Based on what <i>evidence</i> ?</p><p><br /></p><p><br /></p><p> </p><p>Hey, I can always save money by using smaller and lighter planchets. I could use half dollars as blanks and save a bunch. But what really matters, is the <i>per ounce</i> metric. That is what I said: "per ounce".[/QUOTE]</p><p><br /></p>
[QUOTE="dcarr, post: 1418414, member: 4781"]Because I do not [i]claim[/i] that they are legal tender. Their legal-tender status is not certain because there is no relevant law concerning this situation. This is new thing - there is no precedent for it. I already wrote to the US Mint and Federal Trade Commission (twice) about this, outlining my potential scenario [i]before[/i] I ever offered any over-strikes. The example scenario I outlined in my letters was the "1964" over-strike silver Franklin Half Dollars. They never replied. Coin World picked up the case and inquired directly to their contacts at the US Mint. The US Mint simply replied that it wasn't up to them, and that enforcement of related laws lies with the US Secrect Service, and that Coin World should contact them. So Coin World did. The Secret Service briefly looked at the issue and replied that they do not [i]interpret[/i] the laws, they only enforce them as directed by the US Attorney's Office, and that Coin World should contact them. Coin World then discontinued their efforts, but I contacted a representative at the Denver US Attorney's Office. I explained the proposed situation and he just said that they do not interpret laws for the public, and that I would have to hire my own lawyer to look into it. So I contacted a very well-known numismatically-inclined lawer. He briefly studied the issue and said that he didn't know, but that he could research it further. I asked what that would cost, and his reply was "a pretty penny" (figuratively, not literally). So, there you have it. Nobody knows. This is why I state on my web site not to use my over-strikes as legal tender - because nobody knows if they are or aren't. Either way, it is mostly a mute point since the issue price, market value, and scrap value are all higher than the face value. See above. Been there. Done that. If there was no law, it can't be "illegal". How do you think the government can enforce the "ban" on scrapping cents and nickels without a law ? There is a law on the books that provides the Treasury Secretary with the power to make monetary regulations, enforceable as law. And one of those recent officialy-enacted regulations is a ban on large-scale scrapping of cents and nickels. So there is an indirect (but still valid) enforceable law probiting melting cents and nickels. Here is just one example - a "1964" over-struck on a 1922 Peace Silver Dollar ("arrows" not needed). I can provide many more pictures, if necessary. [ATTACH]172581.vB[/ATTACH] Sure it does. It is evidence of what people think. You claimed to know what "most people" think. Based on what [i]evidence[/i] ? Hey, I can always save money by using smaller and lighter planchets. I could use half dollars as blanks and save a bunch. But what really matters, is the [i]per ounce[/i] metric. That is what I said: "per ounce".[/QUOTE]
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