U.S. Mint Confiscates 10 Rare Gold Coins

Yahoo | AP ^ | 8/25/05

[AdamSelene235]

The 445,500 coins minted in 1933 were never put into circulation because the nation went off the gold standard.

We weren't on the gold standard prior to 33, we were on a gold exchange standard.

And we didn't go off the standard, FDR criminalized gold possession.

[A. Pole]

Public domain bump?

[Textide]

Don't steal.

The government hates competition.

There's money to be made in bumper stickers for that one.

[beltfed308]

And we didn't go off the standard, FDR criminalized gold possession.

This story is no different than a war trophy NFA weapon being found in the attic. Once contraband always contraband to the gubermint.

[Bogey78O]

'After a legal battle, the dealer was permitted to sell the coin at auction on the condition he split the proceeds with the Mint.'

Hehe... I'm suprised no one pointed that out.

Government: He stole from us!

Seller: No I didn't. These coins are mine.

Gov't: Ok then, sell the coins and give us a cut.

The Mint is acting like a mob racket. Harass and shake down money.

[linkinpunk]

How stupid.

They confiscate the coins and melt them down to bullion or put them under glass for people to oogle over.

But is the family sells them for$15 million and pays MILLIONS in income tax.

[1rudeboy]

Looks like the majority of responses so far are from FReepers unclear on the concept of "property."

[Manic_Episode]

F the G.

[SittinYonder]

Unbelievable.

More proof that we are here to serve the government. Our rights are bestowed upon us by the government. They can be taken away at a bureaucrats whims.

We should all bow down and thank the Almighty Federal Government for what it allows us to have ... cheap crap from China, mostly.

[DM1]

ITs for the CHILDREN darn it! ;)

[DeFault User]

No doubt the coins will be used for a public purpose and Ms. Langbord can go pound sand. I'm surprised that the court didn't rule that she must pay rental on the coins her family has held for 70 years.

[henderson field]

Your money are belong to us.

[OldCorps]

bump

[absolootezer0]

yes there is a huge difference. gov't just stole these coins, if it were an unregistered NFA weapon, they'd jail you at best, altho don't rule out possibility of them burning down your house.

[newgeezer]

If these coins were initially obtained through illegitimate means, ... too bad, so sad. They should now be melted down with many witnesses and much verification. No sticky fingers this time.

[antiRepublicrat]

The value of gold is a myth.

It's the most non-reactive metal, meaning it doesn't corrode or oxidize. It reflects all infrared energy, making it about the best radiation shield (great for coating spacesuit visors). It has extremely high electrical and thermal conductivity in a wide temperature range. It's the most ductile metal known, meaning you can make extremely thin wires or sheets that still hold together. And by thin, I mean an ounce of gold can make a five mile-long wire.

In all, I'd say it's pretty valuable.

[COBOL2Java]

Perhaps the coins were "distressed" and the Mint thought that they would assist in local economic development. Let's ask Justice Souter.

[beltfed308]

I agree whole heartedly. My point is that once they were declared contraband/private ownership it is no different.

The infamous "ignorance of the law is no excuse" will be played to the hilt.

Main difference is the "boys" were sent the coins by the victims so they did not have to do the JBT routine in normal fashion.

[NotJustAnotherPrettyFace]

Sounds like theft to me!

[eyespysomething]

AFter reading this, I've got a headache. Wait, let me unclench my jaw.