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Hypothetical question---what if a real 1964 Peace Dollar is discovered and......

PerryHallPerryHall Posts: 46,814 ✭✭✭✭✭
in U.S. Coin Forum
What if a real 1964-D Peace Dollar was discovered and authenticated by PCGS and was stored outside the reach of the Secret Service in a foreign country. What effect would this have on the value of the Dan Carr 1964-D Peace Dollar coins? I'm guessing they would increase in value just as the Norfed Liberty dollars after the Secret Service declared them to be illegal. Thoughts.

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

Comments

  • messydeskmessydesk Posts: 20,287 ✭✭✭✭✭
    They'd cut a check for $10,000 to the submitter, if I recall correctly. I imagine it would be submitted through the Hong Kong office.
    John
    Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
  • PerryHallPerryHall Posts: 46,814 ✭✭✭✭✭


    << <i>They'd cut a check for $10,000 to the submitter, if I recall correctly. I imagine it would be submitted through the Hong Kong office. >>



    It could be submitted in this country by an anonymous owner and then the coin could be hidden. Right?

    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

  • krankykranky Posts: 8,709 ✭✭✭
    I'm quite sure HRH has stated that PCGS is not in the business of determining what coins are legal to own, and a coin such as the 1964-D Peace dollar could be submitted and then returned to the submitter.

    New collectors, please educate yourself before spending money on coins; there are people who believe that using numismatic knowledge to rip the naïve is what this hobby is all about.

  • rickoricko Posts: 98,724 ✭✭✭✭✭
    I think if it were submitted in this country, a TPG might turn it over to the Treasury Department... or become party to concealing contraband....I am not a lawyer, but that seems logical...especially in light of the 1933 Gold Eagle debacle. Cheers, RickO
  • PlacidPlacid Posts: 11,299 ✭✭✭
    Or pcgs could just keep it.
    What could the submitter do?

    Wouldnt it be like someone suing cause someone stole their drugs?
    I dont think there is a coin mafia...
  • PerryHallPerryHall Posts: 46,814 ✭✭✭✭✭


    << <i>Or pcgs could just keep it.
    What could the submitter do?

    Wouldnt it be like someone suing cause someone stole their drugs?
    I dont think there is a coin mafia... >>



    I'm surprised that anyone would suggest that PCGS would steal a coin that someone submitted for authentication and grading.

    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

  • PlacidPlacid Posts: 11,299 ✭✭✭


    << <i>

    << <i>Or pcgs could just keep it.
    What could the submitter do?

    Wouldnt it be like someone suing cause someone stole their drugs?
    I dont think there is a coin mafia... >>



    I'm surprised that anyone would suggest that PCGS would steal a coin that someone submitted for authentication and grading. >>



    I's surprised anyone would think that was serious.
  • commoncents05commoncents05 Posts: 10,096 ✭✭✭


    << <i>What effect would this have on the value of the Dan Carr 1964-D Peace Dollar coins? I'm guessing they would increase in value just as the Norfed Liberty dollars after the Secret Service declared them to be illegal. Thoughts. >>



    That is an apples and oranges comparison. A better comparison would be: What effect did the Secret Service seizure have on Replica Norfed Liberty dollars?

    -Paul
    Many Quality coins for sale at http://www.CommonCentsRareCoins.com
  • LindeDadLindeDad Posts: 18,766 ✭✭✭✭✭


    << <i>I dont think there is a coin mafia... >>



    You really can't be sure on that can you?
    My Current project....https://www.pcgs.com/setregistry/mysetregistry/album/160794
  • PlacidPlacid Posts: 11,299 ✭✭✭


    << <i>

    << <i>I dont think there is a coin mafia... >>



    You really can't be sure on that can you? >>



    Might make a interesting movie...Say hello to my little friend and the guy pulls out a half dime.
  • CaptHenwayCaptHenway Posts: 32,709 ✭✭✭✭✭


    << <i>What if a real 1964-D Peace Dollar was discovered and authenticated by PCGS and was stored outside the reach of the Secret Service in a foreign country. What effect would this have on the value of the Dan Carr 1964-D Peace Dollar coins? I'm guessing they would increase in value just as the Norfed Liberty dollars after the Secret Service declared them to be illegal. Thoughts. >>



    To get back to the original question, I think that your hypothetical situation would condemn the Carr 1964-D dollars as counterfeits subject to seizure by the Secret Service. Can't see how that would increase their value.
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • PerryHallPerryHall Posts: 46,814 ✭✭✭✭✭


    << <i>

    << <i>

    << <i>Or pcgs could just keep it.
    What could the submitter do?

    Wouldnt it be like someone suing cause someone stole their drugs?
    I dont think there is a coin mafia... >>



    I'm surprised that anyone would suggest that PCGS would steal a coin that someone submitted for authentication and grading. >>



    I's surprised anyone would think that was serious. >>



    Sorry. I didn't see a image or a image so I assumed you were being serious. image

    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

  • PerryHallPerryHall Posts: 46,814 ✭✭✭✭✭


    << <i>

    << <i>What if a real 1964-D Peace Dollar was discovered and authenticated by PCGS and was stored outside the reach of the Secret Service in a foreign country. What effect would this have on the value of the Dan Carr 1964-D Peace Dollar coins? I'm guessing they would increase in value just as the Norfed Liberty dollars after the Secret Service declared them to be illegal. Thoughts. >>



    To get back to the original question, I think that your hypothetical situation would condemn the Carr 1964-D dollars as counterfeits subject to seizure by the Secret Service. Can't see how that would increase their value. >>



    Don't some coin collectors collect counterfeits? Doesn't the ANA have counterfeits in their reference collection for teaching their counterfeit detection and authentication course? I doubt the Secret Service would care about these coins unless someone was trying to sell one as a real mint made product which would be considered to be fraud.

    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

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