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Text 652, 65 rader
Skriven 2009-10-20 13:37:09 av Roy Witt (1:387/22)
    Kommentar till text 617 av Robert Bashe (2:2448/44)
Ärende: Real coins and junk
===========================
18 Oct 09 10:10, Robert Bashe wrote to Roy Witt:

 RB> Roy Witt wrote to Robert Bashe on Saturday October 17 2009 at 18:42:

 RB>>> But I owe the first gold coin I owned to that fact: someone had
 RB>>> actually turned in a $2.50 quarter eagle to a bank (in the early
 RB>>> 50s, for $2.50 in paper), and the teller - who knew and was friends
 RB>>> with my dad - told my dad, who gave the teller $2.50 in paper and
 RB>>> gave me the gold coin. Naturally that was illegal, but the statute
 RB>>> of limitations meanwhile applies - and who cares anyway?

 RW>> Apparently there were many people who violated the law, as I possess
 RW>> an 1898 and a 1907 $20 gold piece. They had to be hibernating
 RW>> somewhere before I obtained them.

 RB> Of course, but it was never illegal to possess gold coins for
 RB> numismatic reasons.

According to Wiki, executive order 6012 signed by FDR was ruled invalid by
federal judge John M. Woolsey, on the technical grounds that the order was
signed by the President, not the Secretary of the Treasury as required by
law.

 RB> The illegal part of my story was that the teller gave the gold coin
 RB> to my father. He should have turned it in to the government - but I
 RB> was naturally glad he didn't.

Apparently it wasn't illegal to allow gifting that coin to your father.
Every private citizen was allowed to have $100 face value in gold coins.

 RW>> My next door neighbor was a cashier at a liquor store in a small
 RW>> town in California. He told me about the youngster who came into the
 RW>> store and started to spend small change, dimes, nickels and pennies
 RW>> for soda and candy. He then went over to the pinball machine and
 RW>> played it for what seemed like two hours. My neighbor didn't notice
 RW>> that the coinage he used were indian head pennies, liberty dimes and
 RW>> buffalo nickels. When they opened the pinball machine, it was full
 RW>> of standing liberty quarters.

 RW>> The next day the father of the lad came into the store and wanted to
 RW>> know if his son was in the store the day before. If so he wanted to
 RW>> buy back the money he used. My neighbor being the nice guy that he
 RW>> was had stashed the guys collection, except for a few coins that
 RW>> were dispensed as change.

 RB> What a story! The kid deserved to be horse-whipped.

That's what I thought too, but apparently dad wasn't that mad about it.

 RW>> That guy was lucky to get what he got, but my neighbor was just as
 RW>> lucky because the man gave him a $50 reward for hanging onto the
 RW>> coins.

 RB> Very lucky all the way around. But I hope the father afterwards
 RB> locked up his collection properly, and/or taught his son about the
 RB> history of coinage and the value of old coins.

I have no idea what happened after he got his collection back. Like you
said, hopefully he educated his kid in the value of old coins.

                R\%/itt

    You can put lipstick on a pig, but the pig still stinks!
--- Twit(t) Filter v2.1 (C) 2000
 * Origin: SATX Alamo Area Net * South * Texas, USA * (1:387/22)