What is the difference??

Discussion in 'US Coins Forum' started by Andy-nj, Feb 17, 2010.

  1. green18

    green18 Unknown member Sweet on Commemorative Coins

    Welcome to the forum and also to collecting Andy. As pointed out by Duke and Mark, these issues can be readily had at a very reasonable price, and, you are by no means behind in your collecting endeavors. Have fun and enjoy the hunt. If you hang around here long enough you're gonna get interested in other things too.....:)


    I always thought that this was the proper way to dispose of a worn and frayed flag (one that was no longer suitable to "fly" or display).
     
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  3. Andy-nj

    Andy-nj Junior Member

    Thanks for the welcome green18!
     
  4. bhp3rd

    bhp3rd Die varieties, Gems

    On topic you should be able to get those coins for about $2 to $3 each


    On topic, you should be able to get those coins for about $2 to $3 each at any good shop or coin show.

    Slightly off topic, "the very fact that we can burn the flag helps keep us free" our solders actually fight for our freedoms such as this or even to proserve our rights to protest the very war they are fighting.
    I also never have and probably never will "burn our flag" unless done in ceromony to discard an old one. The flag itself is not so sacred or important but what it represents is!
    Please don't ever forget the freedoms we have are not cheap, easy or uncomplicated, they don't favor the few but the many. If you as one person do not like a flag burning or protest then walk away. The peoples right to do such (in an orderly fashion) is so much more important than your likes or dislikes that it is not even comparable - it's just that simple!!!
     
  5. Marshall

    Marshall Junior Member

    It has been illegal to damage or even melt coins in the past, though this was from a time where the coins actually contained near face value of precious metal. I'm not sure if those old laws have been repealed or just ignored.
     
  6. GDJMSP

    GDJMSP Numismatist Moderator

    It's illegal now to melt cents or nickels, and only them, but it's only been that way for about 2 years.

    But you can take a whole bag of them and pound them into unrecognizable scrap with a hammer if you so desire and not break any laws at all. Same for any coin. And you can burn $100 bills by the bushel full if you want - and no laws are broken.

    What always confuses people is a law that we do have - one which states that it is illegal to deface coin or currency with the intent to defraud.

    People misinterpret that law to mean that it is illegal to damage coin & currency. But it isn't.
     
  7. GDJMSP

    GDJMSP Numismatist Moderator

    To tell you the truth - neither one. The odds of you ever seing these coins be worth anything to speak of in your lifetime is about 100 to 1 against.

    If you wish to collect them, collect them because you like them. Because they are not going to be worth anything.

    Andy - there are probably a thousand threads on this forum which discuss the investment aspect of collecting coins. And even if you read every single one what you would find in general is basically 2 things -

    1 -there are those who are convinced that coins are a good investment

    2 - there are those who know better

    Now you can decide for yourself which camp you wish to stand in. But history backs up #2.
     
  8. bhp3rd

    bhp3rd Die varieties, Gems

    I'll tell you what do - take a full 10 years in coin collecting

    I'll tell you what do - take a full 10 years in coin collecting, dealing, buying, selling, and trading and then respond to the question, "is coin collecting a good investment"?
    I would be willing to bet that persons who think coins are a great investment have been in it less than three years!

    The very best coin dealer I know, and he has at least $900,000 on his table at any given show, still only hopes to earn 10% accross the board on 99% of transactions. Sure there are times when he hit's a better lick and makes more but then take away the time spent, (about 45 hours a week at least), (heck I spend 30 hours on my little stuff), the phone calls, the internet expense, the safes, (he has three and they cost between $7000 and $9000 each, your travel, your supplies (in show cases, ballistic cases, lights, etc. you can easily have $5000 in that), banking taxes, well, you start to see where this is going I hope.

    Can you make money, yes, can you make some big money, sometimes, is it a good investment, it's fair and only if you work very hard and for a long time at it.

     
  9. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"


    Words of wisdom :high5:
     
  10. Conder101

    Conder101 Numismatist

    How about the British proof gilt copper farthings, half pence and pence of the late 18th early 19th century? They came from the mint that way. :) There are some other foreign coins that also come from their mints with a gold plating. :) Yes I know you mean any coin that is gold plated AFTER it leaves the mint is concidered junk. I agree.

    True for coins, not true for paper currency. It IS illegal to mutilate or deface paper currency so that it is unfit for reissuing. No fraudulent intent needed. As long as you render it unfit to be reissued it is illegal

    Title 18 chapter 17 sec 333
    Whoever mutilates, cuts, defaces, disfigures, or perforates, or
    unites or cements together, or does any other thing to any bank
    bill, draft, note, or other evidence of debt issued by any national
    banking association, or Federal Reserve bank, or the Federal
    Reserve System, with intent to render such bank bill, draft, note,
    or other evidence of debt unfit to be reissued, shall be fined
    under this title or imprisoned not more than six months, or both.
     
  11. Ladies First

    Ladies First Since 2007

    What if your intent is to make an artistic statement? Or a humorous one?
     
  12. GDJMSP

    GDJMSP Numismatist Moderator

    Fair enough, but there is the intent clause - "with intent to render such bank bill, draft, note, or other evidence of debt unfit to be reissued" -

    I guess my point is that you can tear the note in half, or a portion off; write on it with ink, burn the edges, staple it - pretty much anything you want - but as long as there is no intent to render it unfit for reissue - there is no crime.
     
  13. Conder101

    Conder101 Numismatist

    Maybe, but is seems to me that if you do something to it that you know will render it unfit for reissue then the intent is there as well.
     
  14. BadThad

    BadThad Calibrated for Lincolns

    Sage advice!

    Never "invest" in coins unless you know EXACTLY what you are doing. Collect for the fun and enjoyment....that's how it works.
     
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