1974-D Aluminum Cent has a new home
mustangmanbob
Posts: 1,890 ✭✭✭✭✭
https://mail.aol.com/webmail-std/en-us/DisplayMessage?ws_popup=true&ws_suite=true
Mint has taken it back. Short version, since it was a Denver mint, and no D were ever authorized by Congress, it could not have been issued, given, or taken from the mint.
Mint has taken it back. Short version, since it was a Denver mint, and no D were ever authorized by Congress, it could not have been issued, given, or taken from the mint.
0
Comments
Washington, DC - The United States Mint announced today that it has recovered a 1974-D aluminum experimental one-cent specimen that was neither authorized to be struck nor authorized to leave the Mint. The Mint's recovery follows an agreement to resolve a lawsuit over the ownership of the piece.
The lawsuit in question involved an aluminum one-cent specimen that had once been in the apparent possession of a former assistant superintendent at the United States Mint in Denver, Colo. The two plaintiffs, an heir of the former assistant superintendent and a California coin dealer, filed suit in federal District Court in San Diego, California, seeking a declaratory judgment that the piece was legal to own.
Over 1.4 million of the experimental pieces were struck at the Mint in Philadelphia in 1974 as part of a test program to possibly replace copper one-cent coins. However, Congress never enacted legislation authorizing the Mint to issue one-cent coins composed of aluminum, and the test pieces were to all be melted. The specimen piece in question bears a "D" mark, signifying production in Denver, along with the date "1974," and appears to have been struck with a die intended for the Mint's Denver facility. However, authority was never granted for production of the experimental test pieces at Denver.
An heir of the now-deceased former assistant superintendent contended that his father was given the aluminum one-cent specimen as a gift upon his retirement. The heir provided the piece to an auction firm and hoped to sell it. In February 2014, the United States Mint became aware of plans to offer this particular piece for auction, and immediately reached out to the plaintiffs, notifying both that the United States Mint never issued, nor otherwise transferred title to any aluminum one-cent piece, and that indeed, lawful authority to issue them was never granted. Congress never divested the Government's interest in the subject aluminum one-cent piece, and accordingly, it remained the rightful property of the Federal government.
The Mint, upon authorization of the Secretary of the Treasury and as delegated by Congress, has the exclusive authority to mint and issue U.S. coins and other numismatic items. Items made at United States Mint facilities but not lawfully issued--or otherwise lawfully disposed of--remain government property and are not souvenirs that Mint officials can remove and pass down to their heirs.
The agreement directs that title to the piece rests with the United States Mint and that it be transferred to its custody and control. Mint Police have secured the piece. The Mint considers the specimen to be a valuable historic heritage asset. Accordingly, it intends to display the specimen publicly so that this heritage asset can be properly showcased and enjoyed by numismatists, coin collectors and the general public. The display forum has not yet been decided, but the Mint will make an announcement when a decision has been made.
"The Mint is very pleased with the agreement, and we are very grateful to the U.S. Attorney's Office in San Diego for its work and efforts in reaching this resolution. We look forward to displaying the coin appropriately as an important Mint heritage asset," said Rhett Jeppson, United States Mint Principal Deputy Director. "This agreement is not only good for the integrity of the coin collecting hobby but for the integrity of the government property and rule of law."
Maybe the agreement absolved the plaintiffs from any future legal action and that was the best they could hope for.
I won't hold my breath waiting for the Mint to display it.
Lance.
This coin should not be destroyed. It should belong in the Smithsonian IMO.
A fed talking about how important rule of law is, under this administration -
funniest G-D statement I've ever witnessed in my life.
"Everything is on its way to somewhere. Everything." - George Malley, Phenomenon
http://www.american-legacy-coins.com
The "agreement" appears to be a 100% win for the Mint. Sounds to me like the plaintiffs dropped the suit and handed over the coin.
Maybe the agreement absolved the plaintiffs from any future legal action and that was the best they could hope for.
I won't hold my breath waiting for the Mint to display it.
Lance.
When you are fighting a legal battle with someone who (1) is spending someone else's money on legal fees, (2) doesn't care how much is spent on legal fees, and (3) will pursue the case as far as possible, including appeals, thereby making a resolution take an eternity; it might make sense to surrender before your legal fees eat up your entire net worth.
And this statement "The Mint, upon authorization of the Secretary of the Treasury and as delegated by Congress, has the exclusive authority to mint and issue U.S. coins and other numismatic items. Items made at United States Mint facilities but not lawfully issued--or otherwise lawfully disposed of--remain government property and are not souvenirs that Mint officials can remove and pass down to their heirs." means exactly what? Do they plan to pursue all pattern coins, all mint errors including the Sacagawea mules, and anything else they can come up with? What about the 1943-D copper cent that John Sinnock took, is it not legal to own now?
An authorized PCGS dealer, and a contributor to the Red Book.
If it ever does go on display, you probably won't be able to get within several feet of it and might only be "shown" one side. So, in reality, you will never really get to see the coin if it goes on display. How this is thought of as good, by so many, is beyond my comprehension.
Looking for Top Pop Mercury Dime Varieties & High Grade Mercury Dime Toners.
That is highly debatable. It's also a little scary.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
"Items made at United States Mint facilities but not lawfully issued--or otherwise lawfully disposed of--remain government property…"
That is highly debatable. It's also a little scary.
The application of that proclamation is usually proportional to the amount of political bluster that is considered necessary in the political climate at the time of occurrence.
"Everything is on its way to somewhere. Everything." - George Malley, Phenomenon
http://www.american-legacy-coins.com
"This agreement is not only good for the integrity of the coin collecting hobby but for the integrity of the government property and rule of law."
A fed talking about how important rule of law is, under this administration -
funniest G-D statement I've ever witnessed in my life.
Ain't that the truth!
It's only for AOL users
Wow! There are still AOL users? I though AOL went out of business 15 years ago.
Here's some photos of the Henry Lawrence specimen:
"A dog breaks your heart only one time and that is when they pass on". Unknown
What a pathetic waste of tax dollars to get a penny returned - only in America. The Chinese could flood the market with copies and the feds would be inept at stopping them.
Quiet. You'll give them ideas.
They were made by the mint but never issued, too.
Dead Cat Waltz Exonumia
"Coin collecting for outcasts..."
My YouTube Channel
100% Positive BST transactions
Kevin
There are far more 'specimens' out there than they realize.....Cheers, RickO
theyll get to it ( some freaking day )
"Items made at United States Mint facilities but not lawfully issued--or otherwise lawfully disposed of--remain government property…"
That is highly debatable. It's also a little scary.
Seems like BS to me. What about all the patterns that Secretary Woodin obtained? Was title legally transferred to him, or could the US Mint theoretically claims those? What about the 1913 Liberty Nickels? What about the Farouk 1933 Saint -- why can't they do a deal like that?
Look like the Mint has ensured that the 1964 Peace Dollars will remain underground forever unless the Langboards get title to the 10 1933 Saints.
Where are the prosecutions of persons at the Denver Mint who were responsible for these unlawful aluminum penny strikings?
Whoever is careless with the truth in small matters cannot be trusted with important matters.
Per mint email
However, Congress never enacted legislation authorizing the Mint to issue one-cent coins composed of aluminum, and the test pieces were to all be melted.
Mint goes rogue on aluminum cent without US congress approval, US Mint reigned in by Congress to this day, we need a US Mint revolution from the bounds dictated by Congress. MHO.