Are U.S. coins the property of the government once they reach MY pocket? (a supplemental thread to 2

gecko109

Once any coin reaches my pocket, is it considered my personal property? Or does the government retain ownership of the coins throughout their useable lifespans?

SilverEagles92

On "Secrets of the US Mint," the Director of Numismatics for the US Mint said that "Once you own a coin, you OWN it."

Batman23

The government can tell you what you can and cannot do to your own property.

Have you ever tried to develop real estate property that is considered a "wetland"? You will learn real fast that you do not have full control/ownership of your property.
You have to ask for permission (that could be denied) to even put a house there. If you develop without permission (permit) you can be fined and ordered to undo all your development!

Why would the government money be any different?

GoldenEyeNumismatics

you own it, but with restrictions. For example, you cannot multilate it without a permit.

BAJJERFAN

<< <i>The government can tell you what you can and cannot do to your own property.

Have you ever tried to develop real estate property that is considered a "wetland"? You will learn real fast that you do not have full control/ownership of your property.
You have to ask for permission (that could be denied) to even put a house there. If you develop without permission (permit) you can be fined and ordered to undo all your development!

Why would the government money be any different? >>



In one case your actions could likely have a profound effect on others, but putting a 1921 Morgan dollar into a Dansco and putting that into your SDB likely affects no one. Don't get me wrong as I have no support for Government control, but not all landowners are created equal from an intelligence standpoint.

gecko109

<< <i>On "Secrets of the US Mint," the Director of Numismatics for the US Mint said that "Once you own a coin, you OWN it." >>




Then if I "own" the coins, shouldnt I be able to melt them at my leisure?

COALPORTER

Look, if any of us did half the things the government does, we would be serving ten consecutive life sentences.

cladking

I consider things I own to be mine.

Government restricts many activities so it's no great surprise they
would restrict the destruction of the coinage. The law is probably
intended about as much to discourage people saving the copper
cents as it is to stop the destruction: In either case the coins aren't
available.

The law may have been primarily to avert a sudden penny shortage
as people hoarded them. Now that the percentage in circulation
has dropped substyantially the danger of a shortage is reduced.

I'd guess that the counting houses are removing pennies at govern-
ment's behest since they are being removed based on substantial
anecdotal evidence. So few cents are in circulation at any given
time that his process could go on for years.

NHSBaseball

<< <i>Look, if any of us did half the things the government does, we would be serving ten consecutive life sentences. >>

garsmith

Just because you won smoething doesn't mean you can do whatever you want with it; there are rules, regulation and restriction for almost everything.