Does anyone have any stories about legal disputes over coins?........
SanctionII
Posts: 12,192 ✭✭✭✭✭
............including, but not limited to:
a. Probate or Family Trust disputes over the inheritance of say a $1,000,000 plus coin collection after the collector/owner dies (i.e. dispute between heirs over what to do with the collection; dispute between heirs over valuation of the collection; dispute between heirs over one or more heirs taking and disposing of some or all of the collection without the knowledge of the other heirs);
b. Bankruptcy case where the debtor's non exempt assets include valuable coins with disputes arising over the value of, disposition of and recovery of improperly trnasferred coins in the collection;
c. General civil cases in which the object of the legal dispute is a coin collection; and
d. Criminal/Quasi criminal proceedings in which asset forfeiture takes place (i.e. forfeiture of the proceeds of illegal drug production and sale) and a coin collection is the object of the forfeiture claim by the prosecution.
If you know of any such stories, please tell same since I an a lawyer and since my inquiring mind wants to know.
a. Probate or Family Trust disputes over the inheritance of say a $1,000,000 plus coin collection after the collector/owner dies (i.e. dispute between heirs over what to do with the collection; dispute between heirs over valuation of the collection; dispute between heirs over one or more heirs taking and disposing of some or all of the collection without the knowledge of the other heirs);
b. Bankruptcy case where the debtor's non exempt assets include valuable coins with disputes arising over the value of, disposition of and recovery of improperly trnasferred coins in the collection;
c. General civil cases in which the object of the legal dispute is a coin collection; and
d. Criminal/Quasi criminal proceedings in which asset forfeiture takes place (i.e. forfeiture of the proceeds of illegal drug production and sale) and a coin collection is the object of the forfeiture claim by the prosecution.
If you know of any such stories, please tell same since I an a lawyer and since my inquiring mind wants to know.
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Comments
No too long ago I did a search on a legal research program I use into California law using the search words "numismatics" and "coin collection". I recall between 40-50 results were posted in response to this search. There were a few court case opinions and some miscellaneous statutes and regulations. I should have looked further into the results, but never took the time.
Maybe I will look into the topic of "law and numismatics" in detail when my kids are grown and out of the house and when I do not have to work full time.
my my my my my my my my my my my my
i got stuff that would curl your hair
juicy tender sweetmeat tasty and tantilzing tidbits
extremely unpleasant truths
but nothing i will ever say here.................................................................
I'm not sure I would want to hire someone asking other people to do research for them......
When a client hires me and research is required, I do my own. When I am curious about hearing good stories for my own enjoyment, I have no qualms about asking people to tell me their stories. It is much easier than spending time I do not have looking stories up myself.
whether the coins could be legally sold or something like that. It was a long time ago and I don't remember how it turned out.
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
the value is sufficient, publication of notices of sale in local media.
I have participated in several and have found them to be characterized - in at least some instances - by flagrant self-dealing and fraud. Seven years ago I bought a decontrolled 3rd floor walk-up East Greenvich Village 1-bedroom in Manhattan for $34,000 at a time when its market value was probably around $125,000, and as I did the due diligence necessary to support the lawsuit I almost had to bring to compel specific performance of my contract of sale, found extensive evidence of collusive dealing between the chapter 11 trustee and an insider of the debtor's largest creditor, and similar evidence that false information had been deliberately disseminated to prospective bidders to keep sales prices down.
If you know bankruptcy law and procedure bankruptcy auctions can present usual and very lucrative opportunities.
<< <i>Do a Lexis search for the Trompeter family's collection. It makes for some very interesting reading! >>
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
<< <i>
<< <i>Do a Lexis search for the Trompeter family's collection. It makes for some very interesting reading! >>
Are there any issues in the coin business that are not covered in this case?
For those without Lexis, try this link: LINK
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
Well long story short got a radio broadcast of a burg matching suspect about two miles from our location and held him until the wit arrived for a field show up, positive ID was made and home owner responded,
I had to inventory the property for the arrest report and couldn't stop drooling, the victim offered me a couple of coins that I could never afford but I had to turn them down due to Policy would have taken a big gratuity hit and I liked my job so I settled for a commendation letter for good observation and investigation---Tom
<< <i>A few years ago on a traffic stop I found a large amount of coins cash and jewelry in the back seat of the vehicle, the suspect said he was taking them to sell for his uncle but couldn't remember where he lived.
Well long story short got a radio broadcast of a burg matching suspect about two miles from our location and held him until the wit arrived for a field show up, positive ID was made and home owner responded,
I had to inventory the property for the arrest report and couldn't stop drooling, the victim offered me a couple of coins that I could never afford but I had to turn them down due to Policy would have taken a big gratuity hit and I liked my job so I settled for a commendation letter for good observation and investigation---Tom >>
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>Don't get me started... >>
heh.
My icon IS my coin. It is a gem 1949 FBL Franklin.