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Thread: Bullion as Coinage?

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  1. #16
    clv
    clv is offline
    us
    Dec 2012
    santee, ca
    Current Detectors; Minelab Safari, Minelab Eureka gold, Tesoro Compadre, and TRX Pin Pointer Have owned; White's MX5, GMT, MXT Pro, fisher cz7a pro, go fine 20, fisher 1235x, Garret Master Hunter V
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    If they are not advertising it's lost and seeking its return with ads or flyers it's abandon property, and its finders keepers. This is My opinion.

    In the past I had turned stuff I found to the police station, once a a roll of cash, just over 900 bucks. 90 days later no one claimed it, but the police said it was drug money and kept it for themselves. The next time I turned a lost item it was a raiders jacket I found in the street. The only Id in it was a $10 bill and a lotto ticket. I turned that in and 90 days later no one claimed it. They returned the jacket and lotto ticket to me less the $10 dollars. The ticket turned out to be a winner for $9 bucks. If they had check the numbers I probably would not have got the back either. I threw the jacket in the trash, if had been a charger jacket I would had kept it.
    The police do not look for the owners of lost items it just sits around until it's claimed or disappears. Here it's 90 days not 30 days. In mine experience I have a better chance of returning a lost item than any police department.

    OK I'll get off my soapbox now.
    Don' ask, Don't tell, just DIG!

  2. #17
    Charter Member
    us
    Mar 2011
    San Diego
    Treasure Probe IV, E-Trac, White's Eagle ll SL90, 3 Excal 1000's, White's GM3 V-sat. White's TM808, VibraProbe, TinyTec, 15" NEL Attack, 5X10 Joey, Steath 720i, TRX
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    [QUOTE=Clay Diggins;5626168]No currently issued legal tender coins have an intrinsic value. The reason being it would be illegal to melt or otherwise destroy them. If you can't legally (or practically) sell a coin for it's substance it has no intrinsic value

    Maybe in this country. I don't know of any prohibition from exporting coins. I'm sure there's another country somewhere where they don't have that restriction. I bet I could find a buyer just a few miles from me in Mexico. This would mainly apply to '82 and older copper cents. The other clad have more monetary value than intrinsic value.
    "jus cuz it's wrote down, don't make it so"

  3. #18
    Charter Member
    us
    Nov 2010
    The Great Southwest
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    Quote Originally Posted by cudamark View Post
    Quote Originally Posted by Clay Diggins View Post
    No currently issued legal tender coins have an intrinsic value. The reason being it would be illegal to melt or otherwise destroy them. If you can't legally (or practically) sell a coin for it's substance it has no intrinsic value
    Maybe in this country. I don't know of any prohibition from exporting coins. I'm sure there's another country somewhere where they don't have that restriction. I bet I could find a buyer just a few miles from me in Mexico. This would mainly apply to '82 and older copper cents. The other clad have more monetary value than intrinsic value.
    Good luck with that plan. There is a U.S. law against exporting coins. Exporting pennies or nickles has been illegal since 2007. $10,000 fine and 10 years in Federal prison should you ever choose to return to the U.S.

    So now you know of a law.

    But Hey! I'm sure none of those Mexican scrap dealers would turn you in ...right?.
    Last edited by Clay Diggins; Dec 09, 2017 at 12:37 PM.

  4. #19
    us
    Jan 2016
    North Saguache county between Gunnison and Monarch Pass
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    Last people to involve is the cops. They are too busy with donut breaks and kissing feet. They have a pension to think about ya know.
    Clay Diggins and clv like this.

  5. #20

    Mar 2007
    Salinas, CA
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    Quote Originally Posted by Clay Diggins View Post
    .... There is a U.S. law against exporting coins. Exporting pennies or nickles has been illegal since 2007. $10,000 fine and 10 years in Federal prison should you ever choose to return to the U.S.

    So now you know of a law.

    But Hey! I'm sure none of those Mexican scrap dealers would turn you in ...right?.
    Really ? This is crazy. I went to Mexico a couple of times. And I had (uh... "exported") whatever loose change it was in my pocket at the time. Sheesk, good thing I didn't face that "10 yrs. in prison", eh ? Or maybe it was 'cuz I didn't bring them with intent to smelt down ?

    As for the supposed fines and jail, you're right: You'd be hard-pressed to find a mexican scrap metal smelter who would turn you in. And I'll bet you'd be hard-pressed to find anyone who EVER got "$10k fine" or "10 yrs. in prison" for it. If there IS an example of that, it's either a fluke, or someone being a total obvious nuisance.
    clv likes this.
    Metal detecting is my one worldy vice!

  6. #21
    us
    Oct 2009
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    Quote Originally Posted by Tom_in_CA View Post
    Really ? This is crazy. I went to Mexico a couple of times. And I had (uh... "exported") whatever loose change it was in my pocket at the time. Sheesk, good thing I didn't face that "10 yrs. in prison", eh ? Or maybe it was 'cuz I didn't bring them with intent to smelt down ?

    As for the supposed fines and jail, you're right: You'd be hard-pressed to find a mexican scrap metal smelter who would turn you in. And I'll bet you'd be hard-pressed to find anyone who EVER got "$10k fine" or "10 yrs. in prison" for it. If there IS an example of that, it's either a fluke, or someone being a total obvious nuisance.
    As usual, you mock the laws which you refuse to even research for yourself.
    Tom_in_CA likes this.

  7. #22
    Charter Member
    us
    Mar 2011
    San Diego
    Treasure Probe IV, E-Trac, White's Eagle ll SL90, 3 Excal 1000's, White's GM3 V-sat. White's TM808, VibraProbe, TinyTec, 15" NEL Attack, 5X10 Joey, Steath 720i, TRX
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    Quote Originally Posted by Clay Diggins View Post
    Good luck with that plan. There is a U.S. law against exporting coins. Exporting pennies or nickles has been illegal since 2007. $10,000 fine and 10 years in Federal prison should you ever choose to return to the U.S.

    So now you know of a law.

    But Hey! I'm sure none of those Mexican scrap dealers would turn you in ...right?.
    Interesting link to a relatively new (and as I read it, temporary) regulation. Looks like us peons have a right to export $5 or $25 face value depending on our perceived intent, but, the Federal Reserve can export all they want. Considering that the law was imposed because of national supply concerns, I find that to be more than a bit hypocritical. Regardless, I still maintain that our current coins have intrinsic value, pitiful as they may be, whether that be through legal or illegal means.
    "jus cuz it's wrote down, don't make it so"

  8. #23

    Mar 2007
    Salinas, CA
    Explorer II, Compass 77b, Tesoro shadow X2
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    Quote Originally Posted by Jason in Enid View Post
    As usual, you mock the laws which you refuse to even research for yourself.
    I have no doubt it's a law. That part was not in dispute. As for "mocking the law", yeah, I'll admit that's what I did. By all mean's don't export wheel-barrels full of copper pennies to Mexico to smelt. Truth be told: It's not profitable anyhow . After the effort/cost of transportation and time.
    Last edited by Tom_in_CA; Dec 10, 2017 at 01:38 PM.
    Metal detecting is my one worldy vice!

  9. #24

    Mar 2007
    Salinas, CA
    Explorer II, Compass 77b, Tesoro shadow X2
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    Quote Originally Posted by cudamark View Post
    .... because of national supply concerns, I find that to be more than a bit hypocritical. .....
    "national" concerns, vs a single wheel-barrel : makes no difference. The law is a law. Whether "hypocritical" or logical or not: Be careful that you are not accused of "mocking the law". Eh ?
    Metal detecting is my one worldy vice!

  10. #25
    clv
    clv is offline
    us
    Dec 2012
    santee, ca
    Current Detectors; Minelab Safari, Minelab Eureka gold, Tesoro Compadre, and TRX Pin Pointer Have owned; White's MX5, GMT, MXT Pro, fisher cz7a pro, go fine 20, fisher 1235x, Garret Master Hunter V
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    My wish is for the US to stop minting pennies, and paper $1 and $2 dollar bills. They are a total waste of money, also it would be better for us coin shooters
    Jason in Enid likes this.
    Don' ask, Don't tell, just DIG!

  11. #26
    us
    Oct 2009
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    Quote Originally Posted by GKemper View Post
    Might have picked up the habit from you in post # 4.
    un-welcome back to you Kemper, now goodbye!
    G.A.P.metal likes this.

  12. #27
    us
    Aug 2017
    Central Oregon.
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    Quote Originally Posted by Tom_in_CA View Post
    "national" concerns, vs a single wheel-barrel : makes no difference. The law is a law. Whether "hypocritical" or logical or not: Be careful that you are not accused of "mocking the law". Eh ?
    I Mock the Dot gov. Aholes at Every Opportunity, they are On my Schlit list, besides THEY can NOT be trusted for anything.
    clv, Tom_in_CA and cudamark like this.

  13. #28
    us
    Aug 2017
    Central Oregon.
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    Tom, I believe Most in America are conditioned to Kiss Gov. Butt on a daily basis, However, after living in Alaska and Being truly as free as one can be, I do Not put up with Gov. I DEFY them, Hold my Gun rights dear and am willing to die for my principals.

    By the way, if any of you DO find a Ton of Gold, I can make it into saleable jewelry, rings, blanks, etc so you can make the most of what you find.
    clv likes this.

  14. #29

    Mar 2007
    Salinas, CA
    Explorer II, Compass 77b, Tesoro shadow X2
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    Quote Originally Posted by Goldfinger450 View Post
    Tom, I believe Most in America are conditioned to Kiss Gov. Butt on a daily basis, However, after living in Alaska and Being truly as free as one can be, I do Not put up with Gov. I DEFY them, Hold my Gun rights dear and am willing to die for my principals.

    By the way, if any of you DO find a Ton of Gold, I can make it into saleable jewelry, rings, blanks, etc so you can make the most of what you find.
    gold-finger450, I'm not an anarchist. And I can appreciate the laws we have here (even though ... yes, sometimes silly and onerous). For example: If you went md'ing in Mexico, you would see beautiful historic ruins that are not protected in any way (barring a few examples). And you'd see pollution with no restraints on grand levels (people just dump garbage over the nearest cliff), blah blah blah. It really makes you appreciate the laws and lack-of-same-corruption levels here.

    HOWEVER: When it comes to md'ing, I guess I have a calloused conscience WHEN it comes to "spirit of the law" situations. So for example: NFS or BLM *in the middle of nowhere*, as it concerns that buffalo nickel or barber dime that would otherwise rot-till-eternity, is NOT the same as "pillaging shiloh or bodie" in my book.
    Metal detecting is my one worldy vice!

  15. #30
    us
    Seriously?

    Mar 2008
    WA
    Tesoro Vaquero, XP Deus, Vallon Gizmo
    906
    708 times
    Quote Originally Posted by clv View Post
    My wish is for the US to stop minting pennies, and paper $1 and $2 dollar bills. They are a total waste of money, also it would be better for us coin shooters
    On a related note, the government has shown an interest in both getting rid of both the cent and the $1 bill in the past. Bills that call for getting rid of the cent never make it to a vote - the work of zinc industry lobbyists, I'm told. As for $1 coins, the government calculated how much money would be saved if we exchanged dollar bills for dollar coins (somewhere in the hundreds of millions of dollars IIRC) and have pushed hard to get Americans to accept them. Ever noticed all those newer vending machines that not only accept dollar coins, but also give them back to you in change? That wasn't an accident. Unfortunately for them (and us), consumers have continued to stubbornly reject them.
    Tom_in_CA and clv like this.
    Avatar taken from "The Biting Pear of Salamanca." See the original here: http://ursulav.deviantart.com/art/Th...manca-29677500

 

 
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