Another way for government consfication?

tincup · November 25, 2008 3:05AM

A thought provoking article from Numismaster.com this week. It appears that some countries (china for one) is suggesting that any of their coins minted prior to 1911 should be returnable 'on demand' as 'cultural patrimony'. Unless provenance can be proven. Yikes! What next??

Another interesting side to this. IF the US signs on to the idea, might this not provide the US with a pathway to seize US collectors coins right here in the US? Gold coins, colonials, etc?? We have discussed the possibilities of gold seizure, and usually everyone thinks that collectors coins would be safe in such a case. Well, if this 'cultural patrimony' idea takes life, even collectors coins might not be safe.

Do I think something like this will happen? Not really. But these are VERY strange times, and the times are changing. Who knows what will actually take place?

CulturalPatrimony

zeebob · November 25, 2008 3:08AM

Follow the money.

What would be in it for the US to spend the Salary's and budget to come to some citizen's house and dig out a few thousand dollars in crusty old Chinese coins just to send them back to the Great Land of the Golden Panda?

Stew · November 25, 2008 3:24AM

Very scary subject especially when it comes to moderns, in which they discussed in the article. I think something like that will just drive things underground. Either that or you have to pony up more money to provide a pedigree for each coin. Adding more cost and confusion to an already complex hobby. I know I spent one solid year just teaching myself to grade various coins that I am interested in to avoid the expense of having to depend on a TPG to do it for me. On the lighter side will china consider all of the pre 1911 dated fakes they are sending into this country with the help of their government as part of their 'cultural patrimony' program. And demand that they be returned. I can only hope

tahoe98 · November 25, 2008 5:19AM

...........SHARE THE WEALTH!!

Cladiator · November 25, 2008 5:28AM

When the govt. comes to my house to forceably take away any of my earned belongings I won't have to worry about it for very long. No sense in wasting energy stressing over it now.

mrearlygold · November 25, 2008 5:35AM

Ha! The average Chinese are MUCH better at saving and hiding savings than the average person here. It's also a function of a cash society.

Could it happen here? ( Yes it can! Change! ) Anything could happen here. They are broke and printing more than the Weimar Republic could even dream of printing, and looking to steal anything they can steal.

Cladiator · November 25, 2008 5:38AM

<< <i>They are broke and printing more than the Weinmar Republic could even dream of printing >>

Ooo, good line. One that is strikingly poignant to those that will get it. That one line could lead to a 500 post thread if allowed.

Another way for government consfication?

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