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<p>[QUOTE=&quot;imrich, post: 1977761, member: 22331&quot;]I commend Vegas Vic for his patience and efforts in documentation of legislation that is believed will eventually be implemented through-out the U.S..</p><p><br /></p><p>I believe the more onerous Minnesota Statutes have been</p><p>well documented and discussed in this venue which defines the qualifications and actions required to be licensed as a dealer.</p><p><br /></p><p>It&#039;s hoped by many that the Minnesota standard, which was necessitated by egregious actions, similar to those discussed in this thread, will with more definitive modifications, become national legislation. It&#039;s believed that like used car salesmen, repair &quot;technicians&quot;, etc.., that there should be requirements for transacting in what has been&nbsp; declared a very lucrative field of endeavor.</p><p><br /></p><p>The Minnesota statutes appear on the surface to be &quot;over-reaching&quot; in defining inter-state commerce transactions, but have allowed a remedy for out-state entities acquiring the wealth of residents by unfulfilled promises.</p><p><br /></p><p>I cited, in this venue, a personal experience of a believed attempt by an internationally renown firm, to acquire personal wealth through unfulfilled promises, in violation of current statutes. The items desired, and promised to deliver, were all certified numerous dates/mint-marks, classic $10 Gold (.4829 oz.) coins. The majority were in certified &quot;mint state&quot; condition. All were certified by either NGC or PCGS. The mixture included low mintage&nbsp; dates (e.g. 1897-O, 42500).</p><p><br /></p><p>Although a personal meeting was promised for a stated assessment of value by a knowledgeable representative, I was ultimately told to send the &quot;lot&quot; out of state into the firms possession, before an offer could be submitted.</p><p><br /></p><p>A portion of the coins were offered &quot;sight unseen&quot;, without any photos on craigslist, rapidly receiving several offers in excess of Grey Sheet bid and ask. The low mintage or &quot;tough&quot; dates, were not included, and the buyer paid in advance before viewing or receiving the coins. This process of transfer verified that even an inexperienced &quot;layman&quot; knew the value of these coins.</p><p><br /></p><p>The aforementioned exercise was deemed necessary to establish the value of content in the current statutes, where assets are confiscated through unfulfilled promises or duressive actions, by out-state entities.</p><p><br /></p><p>I believe if you read/digest the published Minnesota Statutes, you&#039;ll realize an answer.[/QUOTE]</p><p><br /></p>

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