I saw on an Error Email list that someone had said to go look at CW Site....I see a article that might be a good one to read.....here is the title....go to Coinworld.com. Bill would legitimize all pre-1933 coinage The little bit of the article I can read without paying money says this.... That may sound great to some of ya'll.....but I think it would kill the market....can you see what it would do to the error market if the Mint started to sell error coins? What about this selling duplicates of any rare coins....will they be marked COPY....how will they be minted....will they be sold to people that don't know anything about coins and think they the copy is the real deal......I don't know how many of ya'll like in Okla....but you might want to email him....in fact everyone should email him. Speedy
agreed I think if we want replicas there are all sorts of places that already advertise and sell rare coin replica and tribute pieces. ( although I do laugh when I see them, personaly I'm not going to spend good money on a copy when there are real coins to be had of more common dates.)
The article also says (It's sitting right next to me as I type this) that 1933+ coins will also be protected from seizure IF the government - in the 'person' of the Smithsonian - already has enough for its collection. If they do, and the Government has extra coins, (read 1933 Double Eagles) then coins are to be auctioned off. That would also affect the 1974 aluminum cents, which the Smithsonian already has examples of. The article also mentions the 1964D Peace Dollar as well. As I read it, if there are, for example, 50 examples of that coin extant, then the Feds can seize a few for their collection, but ownership of the others is protected. But, as my wife pointed out, what is "enough" for their collection? Do they need an example of each die variety? And who would make the decisions?
I don't completely understand the issue. Will the bill permit the Mint to just sell coins already in their possession, or will it permit them to produce and sell copies of old coins?
siezure Would they try and sieze all the coins if they did not have any, then auction the rest? It would be the only fair way to do it so all the previous would lose ( hows that for logic ), other wise a few people would lose their coins and the rest would keep them. It would suck either way. I say if the gov wants some they should have to buy them.
The headline of the article appears rather deceptive. In my reading of the entire article, it's only talking about coins already minted (i.e 1933 Double Eagles, 1974 Aluminum cents, 1913 Liberty Head nickels, and, if they do in fact still exist, 1964D Peace Dollars, just to name a few). They're not going to start re-minting 1804 dollars or making copies, or anything like that. The "Duplicate Rarities" it refers to are, I believe, extra copies of certain coins the Government already possesses. For example, the government has in its possesion right now 12 1933 Double Eagles. If it's determined that they actually "own" all 12, then this Bill would require them to auction off all the extras, after determination is made they have "enough" for the NNC. But what is "enough" for their collection? Do they need an example of each die variety? And who would make the decisions? I would agree. But I think what Congressman Lucas is trying to do is clear up the legal uncertainties of the ownership of certain questionable coins. As a numismatist himself, I believe he's trying to write the bill in such a way to be as advantageous to the numismatic community as he can. I tried to find the bill on the House website, but could not, so I can't comment on the exact requirements of the proposal. All I have is the CW article.
When the info is availablle it will be posted here... http://www.govtrack.us/congress/bill.xpd?bill=h109-5077
