Home› U.S. Coin Forum

What is the most you would pay for a coin that is illegal to own?

JulianJulian Posts: 3,370 ✭✭✭
in U.S. Coin Forum
What are your thoughts?

I know, for a fact, that someone did pay $250,000 over twenty years ago for one!!
PNG member, numismatic dealer since 1965. Operates a retail store, also has exhibited at over 1000 shows.
I firmly believe in numismatics as the world's greatest hobby, but recognize that this is a luxury and without collectors, we can all spend/melt our collections/inventories.

eBaystore

Comments

  • fcloudfcloud Posts: 12,133 ✭✭✭✭
    Never mind. I misspoke.

    Tony

    President, Racine Numismatic Society 2013-2014; Variety Resource Dimes; See 6/8/12 CDN for my article on Winged Liberty Dimes; Ebay

  • MrEurekaMrEureka Posts: 24,332 ✭✭✭✭✭
    If I was in the right mood, which is most of the time, I could be talked into paying $1 million for a gem 1933 $20, but it would need to be delivered at a location of my choice.
    Andy Lustig

    Doggedly collecting coins of the Central American Republic.

    Visit the Society of US Pattern Collectors at USPatterns.com.
  • JulianJulian Posts: 3,370 ✭✭✭
    What about 63?
    PNG member, numismatic dealer since 1965. Operates a retail store, also has exhibited at over 1000 shows.
    I firmly believe in numismatics as the world's greatest hobby, but recognize that this is a luxury and without collectors, we can all spend/melt our collections/inventories.

    eBaystore
  • itsnotjustmeitsnotjustme Posts: 8,779 ✭✭✭
    Zero. That coin can be seized from you in a minute, and you'll be out every cent, and possible facing legal challenges.
    Give Blood (Red Bags) & Platelets (Yellow Bags)!
  • cladkingcladking Posts: 28,701 ✭✭✭✭✭
    It would depend on why it were illegal. If it's illegal because it's known to have
    been illegally obtained by a previous owner then I'd not own it, but it's extremely
    improbable I'd report it. If it were just illegal to own because the mint said it wasn't
    issued then I'd probably be willing to bid on it. If it were illegal because of being fake
    then it would be worth up to a few dollars to me.

    Much would depend on how much I trusted the seller.
    Tempus fugit.
  • AndroidAndroid Posts: 726 ✭
    The only way that I would pay a lot of money for an illegal coin would be if it had a relatively good chance of becoming legal someday - ala the 33 Saint. It would probably be a relative bargain purchased as an illegal coin.

    Andy image
    We are finite beings, limited in all our powers, and, hence, our conclusions are not only relative, but they should ever be held subject to correction. Positive assurance is unattainable. The dogmatist is the only one who claims to possess absolute certainty.

    First POTD 9/19/05!!

  • AndroidAndroid Posts: 726 ✭


    << <i>What about 63? >>



    Can you clarify please?

    Thanks,

    Andy image
    We are finite beings, limited in all our powers, and, hence, our conclusions are not only relative, but they should ever be held subject to correction. Positive assurance is unattainable. The dogmatist is the only one who claims to possess absolute certainty.

    First POTD 9/19/05!!

  • LucyBopLucyBop Posts: 14,001 ✭✭✭
    I wouldn't pay one red cent for a illegal coin.
    imageBe Bop A Lula!!
    "Senorita HepKitty"
    "I want a real cool Kitty from Hepcat City, to stay in step with me" - Bill Carter
  • LincolnCentManLincolnCentMan Posts: 5,347 ✭✭✭✭
    Well, I dont have enough money to purchase an illegal coin, so it doesnt matter. But even if I did, I wouldnt buy one at any price.

    David
    Lincolncentman Toned Lincolns
  • JohnscoinJohnscoin Posts: 250
    You know, it would take a heck of a bank loan, but I'd pay a million for a 33 Saint or a 64 Peace. I'd like the Saint because I still believe that a lawsuit could be brought up if the coin was threatened by seizure.
    Enough documentation exists, that if a suit was brought against the government, it could be won. As far as the Peace dollar goes, it would be cool to see if it really exists.
    Julian, are you referring to a coin we would know about when you mention the $250,000 number?
  • cladkingcladking Posts: 28,701 ✭✭✭✭✭
    There are a lot more illegal to own coins than most people realize. In addition to
    the obvious (stolen, counterfeit, never issued, illegally made), there are also coins
    which are illegal due to import restrictions. No coins made in Cuba since the 1959
    embargo are legal to directly import into the US. Most of those few on the market
    probably come from Canada, but certainly not all. It is against Egyptian law to ex-
    port any "antiquity" and all coins are included even those in circulation. There are
    probably some dozens of more US and foreign laws which can apply to a coin. It
    would be extremely unwise to purchase any illegal coin for profit. It would be uneth-
    ical to purchase most of these coins. Knowingly purchasing illegal coins for profit
    would likely result in criminal prosecution in some cases. This would be especially
    true in cases where coins were stolen, large quantities were involved, or there was
    an attempt to defraud.
    Tempus fugit.
  • ARCOARCO Posts: 4,420 ✭✭✭✭✭
    How many coins are illegal.

    I know about the famous 1933 Saint. I also have heard about the 1974? aluminum cents which I think would be really cool to own. how many more are there?

    Tyler
  • MrEurekaMrEureka Posts: 24,332 ✭✭✭✭✭
    What about 63?

    Julian, I'd be happy to meet you in Switzerland. We can go skiing. image
    Andy Lustig

    Doggedly collecting coins of the Central American Republic.

    Visit the Society of US Pattern Collectors at USPatterns.com.
  • MrEurekaMrEureka Posts: 24,332 ✭✭✭✭✭
    It would be unethical to purchase many of these coins.

    First, I know that you said "many", not "any".

    Despite the duty to society to respect its laws, there is a higher authority that demands that unjust laws be fought at all reasonable costs. Anyway, it CERTAINLY is not unethical to disrespect an unjust government position (such as the illegality of owning a 33 Saint) that is not backed up by existing laws.

    Let's go skiing!!!
    Andy Lustig

    Doggedly collecting coins of the Central American Republic.

    Visit the Society of US Pattern Collectors at USPatterns.com.
  • JulianJulian Posts: 3,370 ✭✭✭
    I do not ski and I do not have anything, like that, for sale.
    PNG member, numismatic dealer since 1965. Operates a retail store, also has exhibited at over 1000 shows.
    I firmly believe in numismatics as the world's greatest hobby, but recognize that this is a luxury and without collectors, we can all spend/melt our collections/inventories.

    eBaystore
  • nwcsnwcs Posts: 13,386 ✭✭✭
    That would be illegal to own? About $0.
    Blog and Pics
  • MrEurekaMrEureka Posts: 24,332 ✭✭✭✭✭
    I do not ski and I do not have anything, like that, for sale.

    No problem. I didn't want to settle for a 63 anyway. image
    Andy Lustig

    Doggedly collecting coins of the Central American Republic.

    Visit the Society of US Pattern Collectors at USPatterns.com.
  • STEWARTBLAYNUMISSTEWARTBLAYNUMIS Posts: 2,697 ✭✭✭✭

    i NEED A 1974 aLUMINUM CENT PATTERN.I don't care if it legal or not as I would buy it and "eat it"
  • MrEurekaMrEureka Posts: 24,332 ✭✭✭✭✭
    i NEED A 1974 aLUMINUM CENT PATTERN.

    Stewart - You already have the '75??? You are a STUD!
    Andy Lustig

    Doggedly collecting coins of the Central American Republic.

    Visit the Society of US Pattern Collectors at USPatterns.com.
  • CLASSICSCLASSICS Posts: 1,164 ✭✭


    << <i>What are your thoughts?

    I know, for a fact, that someone did pay $250,000 over twenty years ago for one!! >>

    .................................nothing.....zero...........like you said it would be illegal to own.......and if somone would buy an illegal coin.........what good would it be, but to the owner, he couldnt show it to anyone, put it on display or share it with anyone , if ever sold it ,what kind of shady people would he have to sell it too?....someone dishonest, who breaks the law....someone like himself...........image
  • MrEurekaMrEureka Posts: 24,332 ✭✭✭✭✭
    Ron -

    It is not illegal to sell a 33 $20 outside of the US. So the issue is not one of legality, but of ethics and practicality. I'd definitely consider buying a 33 in Zurich.

    On the other hand, I would not consider buying stolen property anywhere.
    Andy Lustig

    Doggedly collecting coins of the Central American Republic.

    Visit the Society of US Pattern Collectors at USPatterns.com.
  • CLASSICSCLASSICS Posts: 1,164 ✭✭


    << <i>Ron -

    It is not illegal to sell a 33 $20 outside of the US. So the issue is not one of legality, but of ethics and practicality. I'd definitely consider buying a 33 in Zurich.

    On the other hand, I would not consider buying stolen property anywhere. >>

    .....................outside the u.s. i thought if it was illegal, by the united states laws..... it didnt make any diffrence where it was purchased........i have heard of what they call ......interpole...which inforces the laws of that country.....thanks for the info.image
  • joejewelerjoejeweler Posts: 589
    How about a "red-brown" cent for another "Frankie"? Bet you'd let that fly........image
    Joe T


    << <i>I wouldn't pay one red cent for a illegal coin. >>

    The Ex-"Crown Jewel" of my collection! 1915 PF68 (NGC) Barber Half "Eliasberg".

    Once again resides with Legend, the original purchaser "raw" at live Eliasberg auction. Laura and i "love" the same lady!

    image
  • mdwoodsmdwoods Posts: 5,549 ✭✭✭
    I wouldn't own a stolen coin, but I would never pay attention to what any politician said about the legality of any other coin.
    National Register Of Big Trees

    We'll use our hands and hearts and if we must we'll use our heads.
  • joejewelerjoejeweler Posts: 589
    Much like the "moral" illegality of the federal gov't making private gold ownership illegal in 1933! What outright disrespect for the values and vison our founding fathers incorporated in the constitution to remove any real tangible store of wealth from those it was incorporated to protect.
    Joe T



    << <i>It would be unethical to purchase many of these coins.

    First, I know that you said "many", not "any".

    Despite the duty to society to respect its laws, there is a higher authority that demands that unjust laws be fought at all reasonable costs. Anyway, it CERTAINLY is not unethical to disrespect an unjust government position (such as the illegality of owning a 33 Saint) that is not backed up by existing laws.

    Let's go skiing!!! >>

    The Ex-"Crown Jewel" of my collection! 1915 PF68 (NGC) Barber Half "Eliasberg".

    Once again resides with Legend, the original purchaser "raw" at live Eliasberg auction. Laura and i "love" the same lady!

    image

Leave a Comment

BoldItalicStrikethroughOrdered listUnordered list
Format
SpoilerCodeQuote
Heading 2Heading 1
Emoji
:):D:(;):/:o:s:p:'(:|B):#:*<3o:)>:)
Url
Image
Align leftAlign centerAlign rightToggle HTML viewToggle full pageToggle lights
Drop image/file
Home • U.S. Coin ForumComment As ...