Given the terms of the sale, the government could have owned it for half price.
Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?
@trozau said:
$6.6 Million + 15% + $20 = $7,590,020
For those who might not be familiar with the deal, the extra $20 was paid the government to monetize the coin. It shows how anal the bureaucrats are. You would think that after collecting over $3,000,000 from the sale, that would be enough satisfy them, but no they had to have that extra $20.
Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?
@trozau said:
$6.6 Million + 15% + $20 = $7,590,020
For those who might not be familiar with the deal, the extra $20 was paid the government to monetize the coin. It shows how anal the bureaucrats are. You would think that after collecting over $3,000,000 from the sale, that would be enough satisfy them, but no they had to have that extra $20.
....and the melt value of the Saint has since quadrupled. The paper $20 has not.
@trozau said:
$6.6 Million + 15% + $20 = $7,590,020
For those who might not be familiar with the deal, the extra $20 was paid the government to monetize the coin. It shows how anal the bureaucrats are. You would think that after collecting over $3,000,000 from the sale, that would be enough satisfy them, but no they had to have that extra $20.
I have the original certificate (well maybe a souvenir certificate) of the "Monetizing".
Well, at least the Mint Directors signature is real.
"If I say something in the woods and my wife isn't there to hear it.....am I still wrong?"
@trozau said:
$6.6 Million + 15% + $20 = $7,590,020
For those who might not be familiar with the deal, the extra $20 was paid the government to monetize the coin. It shows how anal the bureaucrats are. You would think that after collecting over $3,000,000 from the sale, that would be enough satisfy them, but no they had to have that extra $20.
It's not just that it's all about control/tyranny in the form of a Stalinistic iron fisted grip.
The government wants to make sure they have control of everything and the fact that we need their permission for everything is the best form of control.
@roadrunner said:
The Govt already owned two 1933 Saints. Would they really want a third one?
Why are the Washington bureaucrats so obsessed with the Switt coins with an fixation to litigate the issue at a cost of millions of dollars to the taxpayers? If a similar deal were made, the government could get half the money from the sale of the coins, and probably collect much more in capital gains taxes for years to come. Instead they waste everyone's time with an endless court battle that will prove nothing other than the fact the government can beat up upon anyone it chooses.
Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?
Comments
Wow......15 years ago??
Seems like just yesterday.
Wonder if it has changed hands.
Wonder of the government in fact owns it?
Given the terms of the sale, the government could have owned it for half price.
For those who might not be familiar with the deal, the extra $20 was paid the government to monetize the coin. It shows how anal the bureaucrats are. You would think that after collecting over $3,000,000 from the sale, that would be enough satisfy them, but no they had to have that extra $20.
My oh my.... how time flies..... When this was first posted I was working in Seattle, now retired in the east... Cheers, RickO
....and the melt value of the Saint has since quadrupled. The paper $20 has not.
I have the original certificate (well maybe a souvenir certificate) of the "Monetizing".
Well, at least the Mint Directors signature is real.
"If I say something in the woods and my wife isn't there to hear it.....am I still wrong?"
My Washington Quarter Registry set...in progress
It's not just that it's all about control/tyranny in the form of a Stalinistic iron fisted grip.
The government wants to make sure they have control of everything and the fact that we need their permission for everything is the best form of control.
The Govt already owned two 1933 Saints. Would they really want a third one?
Why are the Washington bureaucrats so obsessed with the Switt coins with an fixation to litigate the issue at a cost of millions of dollars to the taxpayers? If a similar deal were made, the government could get half the money from the sale of the coins, and probably collect much more in capital gains taxes for years to come. Instead they waste everyone's time with an endless court battle that will prove nothing other than the fact the government can beat up upon anyone it chooses.