Feds to possibly confiscate private holding of Liberty $

[Pennysaved]

http://www.coinworld.com/articles/liberty-dollars-may-be-subject-to-seizure/

[Nickelmeister]

http://www.coinworld.com/articles/liberty-dollars-may-be-subject-to-seizure/

Quick! Send them to me in Canada.

[Pennysaved]

I wonder if they would try to confiscate the warehouse certificates too

[Lemon Thrower]

gestapo tactics based on a very flimsy legal foundation.

they know they have a flimsy legal basis so they are using intimidation.

if the govt took my liberty dollars, not that i have any, it would amount to an impermissible government takign. they can't take your property without due process of law - i.e. a court trial to prove that the represent the product of a crime (your crime, not van nothoaus' crime). if a govt agent takes your property without your consent and due process, you may be able to sue the agent personally under Section 1983.

wiki link: http://en.wikipedia.org/wiki/Civil_Rights_Act_of_1871

[Pennysaved]

Just a little scary. If they say they may want to try to confiscate the Liberty dollars from private owners, would it be a pandora's box for them to try to confiscate other bullion items?

[Morsecode]

Come and get 'em, mo-fo's!

[Oakair]

Of course...

These threaten their 'spendable' bullion monopoly...A 1 ounce silver coin should only be worth 1frn...

This is a weird story...Im surprised this guy didn't expect this though...

[NHsorter]

melt em if you got em. BTW, my avatar in no way implies that I own any of these. For the record I just pirated this image from the web. These are listed up on eBay right now so as long as no one with Govt ties has it out for you, you are probably safe.

[Treetop]

i expected this and long ago traded all mine away.... Im doubt they will go door to door for them, but it will make it hard to sell them publicly if it goes down.... Im sure you could just melt them into a big chunk though.... If you have that ability....

[justj2k78]

I've been meaning to ask you all if you were interested in a group buy. It's a 28 foot boat... I read something about it being salvaged, possibly a few holes, but I figured we could patch those up with some cardboard or mesh. And I have no idea why they say it smells like rotten fish, buy I figure one of those nifty pine tree air fresheners ought to take care of the problem. Either way, who's in?

[Lemon Thrower]

if you own something that is truly contraband - illegal drugs or illegal weapons like a military sized bomb - yes, the government can confiscate it legitimately.

i just don't see what make liberty coins contraband. as i understood it, their case against nothaus had to do with the fact that he was advertising them to be used as money, rather than hoarded. almost like counterfeit bills. i thought their case against van nothaus was a stretch but at least against him they had the fact that he was telling people how to use them. that is very different from confiscating them from someone who is holding it as a hedge against the Fed's intentional policy to inflate the dollar (i dislike the word "hoarding").

[JobIII]

Hope everyone here who bought these coins, did so in cash...

[rainsonme]

This is GREAT news!

I spend time in Evansville In every year, where these are in good supply. I am very interested in buying these; but since i will be taking on a huge risk, I will expect a sizable discount for these now worthless trinkets.


I mentioned a while back that the guys who made these coins made some arrogant errors ---- had they not mimic'ed the US coins in several ways, they probably would have been OK. The "Trust in God", dollar sign, "USA", and some other things that mimic'ed government coinage were not necessary. They could have made this work if they had been a little less arrogant and done a little better planning.

Still, I am happy to relieve you of these now worthless coins, and save you the pain of having the federals break down your door.


Point of record, I don't own any of these coins.

[Oakair]

This is GREAT news!

I spend time in Evansville In every year, where these are in good supply. I am very interested in buying these; but since i will be taking on a huge risk, I will expect a sizable discount for these now worthless trinkets.


I mentioned a while back that the guys who made these coins made some arrogant errors ---- had they not mimic'ed the US coins in several ways, they probably would have been OK. The "Trust in God", dollar sign, "USA", and some other things that mimic'ed government coinage were not necessary. They could have made this work if they had been a little less arrogant and done a little better planning.

Still, I am happy to relieve you of these now worthless coins, and save you the pain of having the federals break down your door.


Point of record, I don't own any of these coins.

Im not seeing this risk translate into lower prices...

If anything, they are rising in price over on the bay...Especially the Ron Pauls

[theo]

This is GREAT news!

I spend time in Evansville In every year, where these are in good supply. I am very interested in buying these; but since i will be taking on a huge risk, I will expect a sizable discount for these now worthless trinkets.


I mentioned a while back that the guys who made these coins made some arrogant errors ---- had they not mimic'ed the US coins in several ways, they probably would have been OK. The "Trust in God", dollar sign, "USA", and some other things that mimic'ed government coinage were not necessary. They could have made this work if they had been a little less arrogant and done a little better planning.

Still, I am happy to relieve you of these now worthless coins, and save you the pain of having the federals break down your door.


Point of record, I don't own any of these coins.

My thoughts exactly! The way they make the statement and subsequentally back off it tells they know full well that there is no legal basis for such a confiscation. Also, I doubt they have even 1/10 the resources to enforce such a directive. However they are not above generating some fear at the mention of silver and contraband in the same article.

I too would be more than happy to pick up a few (even online) at a nice discount. To me they are silver rounds and nothing more.

[Mossy]

If they can reasonably claim the coins are counterfeit US coinage, then, yes.

Unfortunately, the first "court" is their own, and they have lots of lawyers if you figure out how to appeal to the regular court system.

"Hmmmm, $40 coin or $4,000,000,000 lawyer fees?"

The guy that decided on that design was an idiot.

[blackrabbit]

There sure are a lot of these on fee-bay right now. I'm selling one that ends in a few hours that is at $56.75 + shipping It seems the premiums have gone up on this news. I think if the feds were serious about confiscation they would go after large re-sellers of Liberty Dollars and not the hundreds of thousands of people who may own a couple of these.

[rainsonme]

I will be on the look-out for these at coin shows. Maybe someone will want to dump them out of fear of confiscation. IF there was a rush to melt these before they were confiscated, that woudl in turn increase the survivors' value.

Since the courts have ruled these are counterfiet US coins, due to the mistakes in the way the coins were designed, I think the government does have the right to confiscate these.

In any event, I will be glad to spare anyone the 100% loss of confiscation by generously offering 10 cents on the dollar of melt price.

They really are attractive coins.