Would PCGS slab a 1964 Peace Dollar?

dan1ecu · April 25, 2004 2:53PM

Just curious...

If someone submitted a coin that was illegal to own - like a 64 Peace Dollar or a 33 Saint - would PCGS bodybag it for being "illegal?"

Would they/should they report such a coin to the authorities?

Dan

TonedCoinTrader · April 25, 2004 2:57PM

They would (should) report it.

Bochiman · April 25, 2004 2:58PM

I believe HRH answered this a few months ago in the Q&A forum and said they would slab the coin.
I could be wrong (not going to go back and look) but, I think I am right

ER · April 25, 2004 3:07PM

Check with the Secret Service first.

merz2 · April 25, 2004 7:53PM

This question has been asked before.David Hall has said that he would grade the coin,but didn't say what would happen after that.I believe it was about the aluminum cent.

kranky · April 25, 2004 8:31PM

Since PCGS isn't a law enforcement agency, and would have no way of knowing if a coin was illegal to own, I believe they would slab it. Remember, the 1933 Saint was supposedly illegal to own... all you have to do is give the government half the money and you can have clear title.

fivecents · April 25, 2004 9:37PM

I don't think PCGS or any of the big three TPGS have the "cahoonas" to holder that coin.

beartracks42 · April 26, 2004 12:58AM

I think I will keep mine RAW.

dorkkarl · April 26, 2004 1:54AM

when i filled in for hrh in the q&a forum, i answered the question here

K S

Flash · April 26, 2004 9:56AM

That was a question that I asked David Hall in the Q&A forum awhile back.

David Hall's answer

BillJones · April 26, 2004 9:58AM

Probably not. It's illegal to own one, and PCGS would not want to get into the middle of it.

morganbarber · April 26, 2004 10:13AM

I thnk that they'd slab it in a minute. I doubt that they would get in trouble, and, even if they were fined $10,000 by the secret service, it would be worth it for the publicity of being the choice of collectors with extreme rarities, and for having handled the coin in a customer friendly manner.

Flash · April 26, 2004 10:37AM

If I were to submit a coin like that to PCGS I would do so with the express request for no publicity. If they don't want to just slab it and keep their mouth shut, they can just send it back raw.

ddink · April 26, 2004 10:40AM

<< <i>Probably not. It's illegal to own one, and PCGS would not want to get into the middle of it. >>

Bill Jones: Check Flash's link. HRH already answered.

<<
If we recieved a 1933 $20, 1974, Aluminum cent, or 1964 Peace dollar, we would grade the coin and return it to the owner. Some assert the coins are stolen, but we don't know that for sure...and we have no legal obligation to do anything beyond perform our sevice.
>>

IronmanDuke · April 26, 2004 12:27PM

Isn't posession of stolen property a crime? And I will distinguish "ownership" from "possession". They receive it; it's in their posession.

Individuals posessing counterfeit bills are still guilty, but are not prosecuted.

A company, especially one that would reasonably know major stolen or illegal coins, would not not get off so well.

They are also a public company, with an obligation to protect the assets of the shareholders. That should includes not engaging in illegal activities.

If they don't have a formal policy, they should.

kranky · April 26, 2004 12:39PM

"Stolen" is completely different than a the coins being discussed. If a coin known to be stolen was submitted, I'm pretty sure they would take some action.

The Mint handed out the 1974 aluminum cents to some bigwigs at the time. Later they decided they wanted them back. If someone couldn't find the one they had, that doesn't qualify as stolen in my book.

ddink · April 26, 2004 12:44PM

Exactly Kranky. You can't give them to Senators and Congressmen then claim that if they are not given back they are stolen. According to the story, they are "lost," not "stolen." Remember, the courts are the final arbitors of the law, NOT the Secret Service. Just because the USSS says something is "illegal" doesn't mean it is--not until a court finds it to be.

cdwegner · April 26, 2004 12:58PM

Remember the "have any of you ever seen a 64 peace dollar" thread a few years ago??

There were a couple of wink winks in that thread.

GAT · April 26, 2004 1:06PM

If I found a 1964 Peace Dollar it would be off to the London auction houses for me. Slabbing wouldn't even enter my mind.

Would PCGS slab a 1964 Peace Dollar?

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