Hand It Over !! U.S. Coins That Could Be Deemed Illegal To Own

Don't forget that US Canadian quarter

 

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Now only to big collectors. Like the TV guy. How do they get 10,000 and we can't get thru at noon on a sale day. The little guy stays little

 

Didn't know you roll search nickels. Save that 1913. Might be worth something some day

 

Judd 1776 Saint Gaudens pattern 1907

 

I think I read about this in the Burdette Saint book.

If this was a pattern, then it could be taken/given to the engraver or that other circle of higher-ups. Not sure how many of these there are (I can check) but I am not sure there is more than 1 which means probably unobtainable and not sure there's an APB on the coin/pattern, either.

 

There is one.
Laura apparently offered 15 million on behalf of Simpson and was refused without discussion.

 

Who has the pattern ?

I'm surprised he bid that high (it's Bob Simpson, the oil guy, right ?). It may have been an outlandish offer just to see if whoever has it would entertain discussions.

If the 1933 only went for $6.6 MM (without bp), tough to justify 2x that even for a rare pattern which is definitely 1-of-a-kind.

 

It's in a trust now if I remember right, it won't be sold for a long long time.

 

So how does one sell a coin, say a 1974 d aluminum to private sellers?

 

lol

 

No one has to worry about that.

 

Carefully.

It is possible to have well connected dealers who have contacts with well heeled collector quietly put out the word that such a coin may be available, and if if one expresses interest to then start quiet private negotiations for the sale, and the sale is not openly publicized. It's like the underground market for stolen art work etc. It exists.

 

There is a legal principle that may apply (up to courts, of course) to coins obtained from the Mint without Mint’s permission and without criminal involvement of the obtainer or current owner. If a party claims a loss but has known the particulars for a considerable length of time (maybe coded in law or up to judges) and made no prior effort at recovery, then a court may effectively say “too late”. I’ve heard the terms acquiescence and laches used for this principle. Perhaps someone can explain the difference, if any.

For pattern coins of the early 20th century and earlier and the 1913 liberty-head nickels, acquiescence should apply. These coins are well known, have been through countless public sales, and the current owners of many are known. I don’t know of any action by the government taken to recover them. For the 1933 double eagles, the government has stated repeatedly that they are all government property and has always attempted to recover them when they obtained knowledge of their existence.

Got old patterns? Lucky you … you get to keep them.

Cal

 

Very carefully........