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Is it legal to possess/buy/sell NORFED coins and currency?

Or are they considered counterfeit US currency and subject to confiscation?

Comments

  • I found this from April 3rd 2009: _The United States Mint urges consumers who are considering the purchase or use of these items to be aware that they are not genuine United States Mint bullion coins and they are not legal tender. These medallions are privately produced products and are not backed by, nor affiliated in any way with, the United States Government. Moreover, prosecutors with the Department of Justice have determined that the use of these gold and silver NORFED "Liberty Dollar" medallions as circulating money is a Federal crime.__
    The way I read this, you are fine as long as you don't walk into HEB or Target with 200 of these and try to pay for your groceries with them. They might be collectible and are certainly worth their melt value. I don't interpret this as stating that they are illegal to possess but it would be illegal to pass them around as "legal tender of the realm" or spend them into circulation. http://107.6.21.207/Subjects/MoneyBanking/News/NorfedIllegal-070323.htm

  • Timbuk3Timbuk3 Posts: 11,555 ✭✭✭✭✭

    👍 !!!

    Timbuk3
  • mbwizkidmbwizkid Posts: 584 ✭✭✭

    I don’t see a denomination on the coin and why is this featured on the paper money forum ?

    AKA - Steve in Tampa

  • cameonut2011cameonut2011 Posts: 7,253 ✭✭✭✭✭
    edited August 3, 2020 2:12AM

    Mere possession without the intent to defraud is not a criminal offense. The coins freely trade, but it does raise interesting questions under the Hobby Protection Act (civil statute) that have yet to be litigated regarding sales. Theoretically the government could order them confiscated; however, it returned the pieces it previously confiscated. Yes the pieces were adjudicated as counterfeits and Bernard Von Nothaus was convicted of counterfeiting (U.S. v. Von Nothaus).

  • @mbwizkid said:
    I don’t see a denomination on the coin and why is this featured on the paper money forum ?

    I posted in this forum because NORFED issued both currency and coin. So, the question is the same for either venue.
    I chose this one so the question would not get lost in the clutter on the coin forum.
    It is a serious question, I like the designs and variety on the coins and bills but have a concern over investing my hard earned $$ in them if the legality is questionable. I am especially concerned with the bills since they would become worthless. I could always melt the coins real fast.

  • JimnightJimnight Posts: 6,261 ✭✭✭✭✭

    :/

  • mbwizkidmbwizkid Posts: 584 ✭✭✭

    The notes are auctioned regularly, so possessing them doesn’t seem to be an issue.

    AKA - Steve in Tampa

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