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PR Newswire: "Obama Administration Stifles Coin Trade Amidst Calls for More Jobs"

GAINESVILLE, Mo. Jan. 21, 2011 /PRNewswire-USNewswire/ -- In a press release of January 19th, the U.S. State Department (DOS) announced extension, for another five years, of the Memorandum of Understanding (MOU) between the U.S. and Italy "protecting Italy's archaeological materials representing the pre-Classical, Classical and Imperial Roman periods". The new agreement has, to the surprise of many, been expanded to include import restrictions on popular collectable coins of Italian types. These include early Roman issues and all coins of the ancient Greek states issued in what is now Italy. Details are outlined in the Federal Register of that date. Ironically, this action comes on the heels of Executive and Legislative Branch calls this week for the reduction of anti-business regulations that curb jobs.

During a preliminary public comment period, DOS received more than 2,000 faxes from private collectors, coin dealers and concerned citizens opposing any addition of coins to the MOU. By contrast, public support for the requested action was minimal. Collectors' concerns were also echoed in a bipartisan letter from 12 members of Congress to Secretary of State Hillary Rodham Clinton. Opposition came from abroad as well. Bavarian Minister of Economic Affairs, Martin Zeil, registered his government's opposition to import restrictions on coins saying in a letter to the State Department that proposed restrictions "would negatively impact the legitimate numismatic trade between Germany and the United States of America and also people to people contacts between US and German citizens." He pointed out that because of the MOU's overly repressive documentation requirements "Legal trade would then hardly be possible between Germany and the United States."

Collectors argue that over the past 600 years literally millions of ancient coins have been bought and sold without any requirement for chain of ownership documentation (provenance). Under terms of the MOU, future imports of listed coin types would be stifled since most collectors and dealers worldwide have only general receipts, if any, and could not meet strict documentation mandates for individual coins. Coins are often sold at public auction in "group lots" with only general narrative descriptions.

The Ancient Coin Collectors Guild (ACCG) is challenging import restrictions on coins through ongoing litigation against DOS and the Customs and Border Protection agency (CBP) in United States District Court for the district of Maryland.

PRN Link

Comments

  • 291fifth291fifth Posts: 23,898 ✭✭✭✭✭
    It sounds to me like the legal international trade in Greek & Roman coins is now effectively dead.

    What idiocy!

    All glory is fleeting.
  • Aegis3Aegis3 Posts: 2,896 ✭✭✭
    Out of curiosity, what reason do we have to believe that the ACCG's propogan^H^H^H^H press release is in any way accurate?
    --

    Ed. S.

    (EJS)
  • 291fifth291fifth Posts: 23,898 ✭✭✭✭✭


    << <i>Out of curiosity, what reason do we have to believe that the ACCG's propogan^H^H^H^H press release is in any way accurate? >>



    If it is on the internet it has to be true, doesn't it?image
    All glory is fleeting.
  • newsmannewsman Posts: 2,658 ✭✭✭
    Here's a link to the official document in the Federal Register, which indicates that it's true, at least for coins made before 37 AD.

  • GoldbullyGoldbully Posts: 16,823 ✭✭✭✭✭


    << <i>Here's a link to the official document in the Federal Register, which indicates that it's true, at least for coins made before 37 AD. >>



    Nobody knows better than newsman!!! image
  • sumnomsumnom Posts: 5,963 ✭✭✭
    We might note that the Congressional Register indicates that the US Government is responding to a request by the Italian government:

    "We note that, pursuant to 19 U.S.C. 2604, the category entitled ‘‘Metal’’ has been amended to include the subcategory ‘‘Coins of Italian Types.’’ This
    amendment comes in response to a Diplomatic Note from the Government of Italy requesting the Designated List be amended. Coins constitute an
    inseparable part of the archaeological record of Italy, and, like other archaeological objects, they are vulnerable to pillage and illicit export."


    The coins in question, according to the Congressional Register, are as follows:


    "F. Coins of Italian Types—A type catalogue of listed currency and coins can be found in N.K. Rutter et al. (eds.), Historia Numorum: Italy (London, 2001). Others appear in G.F. Hill Coins of Ancient Sicily (Westminster, 1903).

    1. Lumps of bronze (Aes Rude)—Irregular lumps of bronze used as an early medium of exchange in Italy from the 9th century B.C.
    2. Bronze bars (Ramo Secco and Aes Signatum)—Cast bronze bars (whole or cut) used as a media of exchange in central Italy and Etruria from the 5th century B.C.
    3. Cast coins (Aes Grave)—Cast bronze coins of Rome, Etruscan, and Italian cities from the 4th century B.C.
    4. Struck coins—Struck coins of the Roman Republic and Etruscan cities produced in gold, silver, and bronze from the 3rd century B.C. to c. 211 B.C., including the ‘‘Romano-Campanian’’ coinage.
    5. Struck colonial coinage—Struck bronze coins of Roman republican and early imperial colonies and municipia in Italy, Sicily, and Sardinia from the 3rd century B.C. to c. A.D. 37.
    6. Coins of the Greek cities—Coins of the Greek cities in the southern Italian peninsula and in Sicily (Magna Graecia), cast or struck in gold, silver, and bronze, from the late 6th century B.C. to c. 200 B.C."

    The following comes from the ACCG website:

    "These restrictions are effective as of January 19, 2011 and will remain in force for a period of five years, at which time they will be considered for renewal. Any coins of the types indicated above cannot be imported into the United States after this date unless they are accompanied by an export permit from the Republic of Italy or proof that they existed outside of Italy prior to this date. Roman Imperial coins are not covered under the MOU and are not subject to import restrictions. The import restrictions apply only to entry into the United States. Collectors in most countries around the world will continue to enjoy unrestricted access to these coins.

    The ACCG has actively opposed import restrictions on coins and continues to do so through ongoing litigation against the U.S. State Department (DOS) and Customs and Border Protection (CBP) within the Federal court system. It should be emphasized that this State Department MOU with Italy affects only the transit of undocumented coins and does not have any bearing on coins currently existing and recorded as being outside of Italy."

    It looks to me like the Italian government is trying to protect Italian archaeological sites and the US government is cooperating. If the documentation requirements help in preserving the Italian archaeological record, developing classical archaeology and its associated fields, and advancing the sum total of human knowledge, then the concerns of coin collectors and coin dealers in having to minimally account for the sources of their materials are at best trivial.

    The way I see it, however, is that 1) this is really little more than an annoyance in the international trade in ancients, and 2) it probably won't really do all that much to stop the destruction of Italian archaeological sites.


  • sumnomsumnom Posts: 5,963 ✭✭✭


    << <i>It sounds to me like the legal international trade in Greek & Roman coins is now effectively dead.

    What idiocy! >>



    Why would you say that?
  • sumnomsumnom Posts: 5,963 ✭✭✭


    << <i>

    << <i>Here's a link to the official document in the Federal Register, which indicates that it's true, at least for coins made before 37 AD. >>



    Nobody knows better than newsman!!! image >>



    Many people know better than Newsman... I have not forgotten the great struggles of the Open Forum. Indeed, this thread reminds me of those days of fell deeds upon the fields of battle.
  • FrankcoinsFrankcoins Posts: 4,569 ✭✭✭
    Reagan signed the treaty allowing other countries to specify which items they designate as Cultural Property.

    Executive Order 12555 of March 10, 1986
    Protection of Cultural Property

    By the authority vested in me as President by the Constitution and laws of the United States of America, including the Convention on Cultural Property Implementation Act (Title III of Public Law 97-446; hereinafter referred to as the "Act"), and Section 301 of Title 3 of the United States Code, it is hereby ordered as follows:

    Section 1. United States Information Agency. The following functions conferred upon the President by the Act are hereby delegated to the Director of the United States Information Agency, acting in consultation with the Secretary of State and the Secretary of the Treasury:

    (a) The functions conferred by section 303(a)(1) concerning determinations to be made prior to initiation of negotiations of bilateral or multilateral agreements.

    (b) The functions conferred by section 303 (d) with respect to the determinations concerning the failure of other parties to an agreement to take any or satisfactory implementation action on their agreement; provided, however, that the Secretary of State will remain responsible for interpretation of the agreement.

    (c) The functions conferred by section 303(e) relating to the determinations to be made prior to the initiation of negotiations for the extension of any agreement.

    (d) The functions conferred by section 303 (f) relating to the actions to be taken upon receipt of a request made by a State Party to the Convention on the Means of Prohibiting and Preventing the Illicit Import, export and Transfer of Ownership of Cultural Property adopted by the Sixteenth General Conference of the United Nations Educational, Scientific and Cultural Organization (hereinafter referred to as the "Convention").

    (e) The functions conferred by section 303(g)(1)(B) relating to the notification of Presidential action and the furnishing of reports to the Congress.

    (f) The functions conferred by section 304(b) to the extent that they involve determinations by the President that an emergency condition applies with respect to any archaeological or ethnological material of any State Party to the Convention, subject to the limitations of sections 304(c)(1), 304(c)(2), and 304(c)(3).

    (g) The functions conferred by section 304(c)(3) to the extent that they involve determinations to be made and the receipt and consideration of an advisory report from the Cultural Property Advisory Committee by the President prior to extensions of emergency import restrictions.

    (h) The functions conferred by sections 306(f)(6) and 306(g) relating to the receipt of reports prepared by the Cultural Property advisory Committee.

    (i) The functions conferred by section 306(h) relating to the determinations to be made about the disclosure of matters involved in the Cultural Property Advisory Committee's proceedings.

    Sec. 2. Department of State. The following functions conferred upon the President by the Act are hereby delegated to the Secretary of State, acting in consultations with and with the participation of the Director of the United States Information Agency and in consultation with the Secretary of the Treasury:

    (a) The functions conferred by section 303(a)(2) relating to the negotiation and consultation of bilateral or multilateral agreements under the Act, subject to the restrictions of the section 303(c).

    (b) The functions conferred by section 303(a)(4) relating to obtaining a commitment on the exchange of archaeological and ethnological materials from a party to an agreement.

    (c) The functions conferred by section 303(e) relating only to negotiation and conclusion of extensions of agreements under the Act.

    (d) Except with respect to subsection 303(g)(1)(B), the functions conferred by section 303(g), relating to the notification of Presidential action and the furnishing of reports to Congress.

    (e) The functions conferred by section 304(c)(4) to the extent that they involve the negotiation and consultation of agreements subject to advice and consent to ratification by the Senate.

    Sec. 3. Department of the Treasury. The following functions conferred upon the President by the Act are hereby delegated to the Secretary of the Treasury, acting in consultation with the Director of the United States Information Agency and the Secretary of State:

    (a) Subject to subsection (b of Section 1 above, the functions conferred by section 303(d) to the extent that they involve the suspension of import restrictions.

    (b) Subject to subsection (f) and (g) of Section 1 above, the functions conferred by section 304 to the extent that they involve the application of import restrictions set forth in section 307 and the extension of such import restrictions pursuant to section 304(c)(3).

    Sec. 4. Enforcement of Territories and Other Areas. The Secretary of the Interior is designated carry out the enforcement functions in section 314.



    /s/ Ronald Reagan

    THE WHITE HOUSE, March 10, 1986
    Frank Provasek - PCGS Authorized Dealer, Life Member ANA, Member TNA. www.frankcoins.com
  • newsmannewsman Posts: 2,658 ✭✭✭
    My post was never intended to be political -- I was simply pointing out that the restrictions were in fact being applied, because people were questioning the accuracy of the press release.

    There's probably a bigger story behind this, since Italy already maintains strict control over its archaeological sites. And as far as I understand, the principal source in recent years of Roman imperial coins has been Eastern Europe, Cyprus and Turkey, rather than Italy.

    I'm not aware of any specific information about illegal trade in antiquites that might have prompted Italy's request, but I would point out that many of the former Greek colonies in the Naples area, such as Nola, have long been Mafia strongholds, as well as Sicily.
  • SapyxSapyx Posts: 1,977 ✭✭✭✭✭
    I live in Australia, and I currently own six coins in the affected category: two Syracuse bronzes, one bronze each from Gela and Rhegion, a tiny silver coin from Selinus and a didrachm from Neapolis. All of them Greek colonies in what is now Italian territory. I purchased them all lawfully from local dealers here in Australia prior to 19 January 2011, but I have no actual evidence whatsoever that this is true - no receipts, no permits, nothing.

    Now, with this MOU in place, if I were to be so foolish as to get on a plane and fly to America with these coins on my person or in my luggage and I told the customs guys at the US airport when I landed, then these coins could be seized from me and "sent back" to Italy. Despite the US Customs agents having zero evidence that they were stolen, or even that they were originally found in Italy in the first place.

    The same could happen to you if you came here to Australia and purchased these coins off of me, then tried to go back home to the US with them.

    They probably wouldn't be seized, of course. But if US Customs was doing its job properly, they would be.
    Waste no more time arguing what a good man should be. Be one.
    Roman emperor Marcus Aurelius, "Meditations"

    Apparently I have been awarded one DPOTD. B)
  • AndresAndres Posts: 977 ✭✭✭
    Since there are few roman coin experts with US customs , are they going to seize every ancient coin ?
    and decide, after these seized coins are graded , if the coin is on that list.
    and what about - counterfeit period coins.




    collector of Greek banknotes - most beautifull world banknotes - Greek & Roman ancient coins.
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