Legality of owning coins of dubious origin

[Higashiyama]

What is the law concerning ownership of coins such as a 1964-D Peace dollar, and to what extent is it enforced?

 

As a particular example, why is it believed that a 1964-D Peace dollar might be confiscated, whereas it is legal to own a 1913 Liberty nickel? Other than time, is there a difference in the legal status of these two coins?

[Tradedollarnut]

Looks like the 1964 Peace Dollar was officially recalled after striking and not issued.

 

Peace Dollar

 

No mention was made of the Denver Mint's 316,076 Peace Dollars of 1964. According to The Red Book, none was ever preserved or released. In 1973, the U.S. Mint issued a strong statement that if anyone held such a coin, they would be guilty of theft of government property. Writing in his Encyclopedia, Walter Breen said:

 

"Fern Miller, of the Denver Mint, told the local coin dealer Dan Brown that as usual various employees had purchased two new dollars apiece, but that when the recall came in, nobody kept any record either of the numbers sold to employees or the numbers turned in."

 

The quantity melted was determined by weight. Anyone could have substituted other cartwheels for their 1964-D samples. Therefore, it is not surprising that Barry Krause and other writers continue to theorize that 1964-D Peace Dollars do exist. However, the law prohibits their possession. This is especially disappointing since Anthony de Francisci died in 1964, making the issue of a Peace Dollar in that year a fitting tribute.

[michael]

you pays your money and you takes your chances

 

currently as such the treasury dept has made no legal precident or taken action on many famous illegal coins spirited out of the usa mint and never monentized and officially issued by tyhe treasury dept currently the federal reserve

 

but the main thing here is they have taken no action

 

might this continue in the forseeable future

 

i think so but a few famous coins are still illegaL TO OWN AND SUBJECTIVE TO CONFESCDATION

 

it is like a local DA office that has conclusive evidence that a crime has been committed anf for wahtever reason has chose not to pursue it this does not mean the person is not guilty this just means they chose not to proscute

 

for example in many rust belt overcrowded urban areas where thyese is much crime and poverty and the city is overwhelmed by much violent crime and dwindling tax base and budget defecits the DA office might selectively choose some of the least voilent cases to not be charged due to low manpower and a slowdown in the due process system

 

stiull a crime was committed just not proc scuted

[SilverDollarMan]

I would......... and be quite bout it.

[Tradedollarnut]

i think so but a few famous coins are still illegaL TO OWN AND SUBJECTIVE TO CONFESCDATION

 

Apparently, the 1965 Coinage act makes all coins minted previously Legal Tender unless actively challenged by the Treasury. Someone says there's a list that includes the 1933 $20, the 1964-D Peace Dollar and the 1974 Aluminum cent.... but NOT the 1913 Lib nickel. This makes the coin legal tender and not subject to attempted confiscation.

 

Whew!

[cpm9ball]

i think so but a few famous coins are still illegaL TO OWN AND SUBJECTIVE TO CONFESCDATION

 

Apparently, the 1965 Coinage act makes all coins minted previously Legal Tender unless actively challenged by the Treasury. Someone says there's a list that includes the 1933 $20, the 1964-D Peace Dollar and the 1974 Aluminum cent.... but NOT the 1913 Lib nickel. This makes the coin legal tender and not subject to attempted confiscation.

 

Whew!

 

Thanks for the info TDN . I was starting to worry that, one day, the Feds would break down my door.

 

Chris