What is the Federal Coin Repository?

Leftcoast · February 8, 2003 9:07AM

I have a 3 coin set of CC Morgans from the Federal Coin Repository. They are in a black velvet box individually sealed in plastic holders. They come with a certificate of authenticity.
They are very nice coins. Possibly DMPL quality.

Do you all think they are worth more in the set or broken out and slabbed?

coppercoins · February 8, 2003 9:13AM

A complete guess, but anything like that (modern packaging with an old coin) with a COA enclosed is likely a private company. If that's the case, the COA and packaging are worthless numismatically speaking.

GDJMSP · February 8, 2003 9:24AM

Just out of curiosity I did a search on the Federal Coin Repository - only thing I could come up with was that the FTC took them to court back in '92 - '93. Something must have been going on that was not strictly above board.

MadMarty · February 8, 2003 9:35AM

Is the Federal Coin Repository for AH Kennedy's Russ's house???

Russ · February 8, 2003 9:41AM

Hey Marty,

Just wanted you to know that I have one I'll be submitting that HAS TO grade lower than yours. It is the doggiest AH I've ever seen. Your reign as pop one king will soon be coming to an end.

Russ

coppercoins · February 8, 2003 9:50AM

The only thing I can find is that the FTC took, "Federal Coin Repository," to court in August, 1993. Since there's absolutely nothing else that Google, Yahoo, FindIt, nor Altavista can find, I am assuming the FTC won and the, "Federal Coin Repository," was more or less put out of business. They could easily have come back since then under a different name.

There are a number of companies out there whose names are misleading as official entities with the government. You gotta look close on some of them to find the BS in their ads.

MadMarty · February 8, 2003 9:52AM

<< <i>Just wanted you to know that I have one I'll be submitting that HAS TO grade lower than yours. It is the doggiest AH I've ever seen. Your reign as pop one king will soon be coming to an end. >>

Come on, you know there is no way you will spend $15 on a doggie AH...

parkave · February 8, 2003 10:15AM

Federal Coin Repository was owned a Direct Marketer in NYC in the late 80's early 90's. He was the first to market the One Troy Pound American Eagles Replica's in 1986 for $299.00 each. He struck a limited edition 10,000 12 troy ounce coins privately and advertised in National Syndicated Papers. Many followed his lead in the 90's because of the huge profit margins of $4.50 silver X 12 oz plus minting fees ($77) selling at $299.00.

The case was more about the name of the company as the ads looked very Gov' t Official and were misleading.

Same coins sell for $99 nowadays in CoinWorld or Numismatics News by a few leftover players today. As far as the CC Dollars, they might be GSA Treasury Hoard coins as I recall.

Leftcoast · February 8, 2003 6:12PM

thanks,
I knew someone here would know something!

Conder101 · February 9, 2003 2:42AM

They also used to run morgan dollar "found in old vaults" scams as well selling XF/au Morgans at $50 each as well.

What is the Federal Coin Repository?

Comments

Leave a Comment