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<p>[QUOTE=&quot;benveniste, post: 2055990, member: 25547&quot;]Any generalizations about people offering &quot;Cash for Gold&quot; should be treated with great suspicion, including any in this post.</p><p><br /></p><p>Let&#039;s start with the basics.&nbsp; In the U.S., is not illegal <i>per se</i> to be in possession of counterfeit coins, but they are subject to seizure by the Federal Government. Such seizure is unlikely unless you call attention to them by, say, showing them at a post office or bank, but 18 USC 492 allows &quot;proper officers&quot; to &quot;request&quot; you to surrender possession and failing to comply <u>is</u> a crime.&nbsp; For gold coins, Federal regulations allow you to petition for recovery of the gold value, but SecTreas &quot;retains complete discretion&quot; to grant or deny such a petition.</p><p><br /></p><p><a href="http://www.law.cornell.edu/cfr/text/31/part-101" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.law.cornell.edu/cfr/text/31/part-101" rel="nofollow">http://www.law.cornell.edu/cfr/text/31/part-101</a></p><p><br /></p><p>Assuming the coins are not genuine and you try to sell them, you <u>may</u> wish to mark them first with a COPY stamp to avoid running afoul of the regulations of the Hobby Protection Act or otherwise slag or deface them.&nbsp; I explicitly offer no opinion whether you are <u>required</u> to do so or not.&nbsp; Whatever your choice, anyone buying for gold value will want to test the material for purity rather than making assumptions.&nbsp; Here you face some choices.&nbsp; Depending on the business and the amount of material, a buyer may just use a &quot;touchstone&quot; test or may require a formal assay.&nbsp; For a sale price based on a touchstone, you can expect less than that based on an assay because the buyer is taking on more risk.</p><p><br /></p><p>Personally, unless I was in a hurry for cash, I&#039;d work with a local jeweler I trust rather than a storefront.&nbsp; If you&#039;re a known customer they may submit it to a smelter or a company such as Kitco for nominal fee or even as a courtesy.&nbsp; Kitco publishes it&#039;s price schedule here; assay fees, postage and insurance will come out of your pocket, of course.</p><p><br /></p><p><a href="https://online.kitco.com/refining/gold-silver.html" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://online.kitco.com/refining/gold-silver.html" rel="nofollow">https://online.kitco.com/refining/gold-silver.html</a>[/QUOTE]</p><p><br /></p>

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