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coin confiscation

Started by MikeKing,

3 posts in this topic

Dermott

Dermott

Posted
Posted

Considering the logic being put forward in regards to the 33 Saint, 74 Aluminum cent, and 64 Peace Dollar, it would be because there was no Federal Reserve in regards to the earlier coins.

 

From what I've read, the basic argument is that a coin that is not "bought" by the Federal Reserve to go through the banking system or sold through the Mint (commems, proof, mint sets) is not considered "legal tender" and thus illegal to own.

 

Because the Federal Reserve did not exist when the restrikes and the 13 Vs were made, there's no way for them to make those coins illegal without making every other coin from that time illegal as well.

 

(Now I could be completely wrong in this, but that's the way I understand it)

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