Why This Coin is Illegal to Own
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- Опубліковано 28 вер 2024
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wonderfull
I think HAI is using this business from their own video of American airlines' mistake.😂😂😂
I'm disappointed there wasn't a LOTR joke. For shame.
The logistics of corona treatment
The last days of Adolf H
"You know, it's kinda illegal what you did but hey, let's sell it and split 50-50."
That is the most American thing I've heard in a while
Reddit moment
@@tylerlackey1175 what does this have to do? America bashing is normal in basically everywhere in the world where this evil empire intervened, like in Iraq.
Federal asset forfeiture is robbery
it's actually an incredibly clever work around, since the US gov't were the legal owners them selling it now makes the ownership of that coin legal. I bet they quoted the bible during that court proceeding and actually chopped the baby in half.
Does them allowing it to be exported to him as part of the sale not imply that they allowed the transaction? I mean, mistake by the treasury employee or not King Farouk seemed to be the legal owner at that point. Licensed and everything.
"You're not allowed to hoard gold."
"Why not?"
"Because we want to hoard it."
"Understandable, have a good day."
God bless murica.
As is the case with pretty much any "You're not allowed X" law. You're not, they are, generally for some roundabout reason. You're not allowed to collect and hoard rainwater in case of a drought. But the state is. Why? In case of a drought. At least, that's the basic version of it. Applies to tons of dumb things and lots of very touchy subjects too (guns for instance).
It makes sense.
Biden: You are not allowed to hold guns
American: Why not? the Amendment II of US constitu...
Biden: C'mon, forget about that, I want my bloc to be the only one to hold....alright....guns kill people...you know the thing...
American: guns kill people, orange man bad, kid sniffer good, God bless US
@@nmslchan9527 Boy... that escalated quickly.
Secret service: "you are arrested for selling our gold!"
Coin seller: "wait can we just split profits to half?"
Secret service: "looks fair to us"
It makes sense, it would’ve been a long court battle and probably wasn’t gonna be worth the time or money, if they split the profits, they make back the money they spent trying to get it and everybody wins
It makes sense for this particular coin because it WAS "legally exported" at some point, so the court case is rally tricky.
MinecraftPro15 the real value of the coin wasn’t the number printed on it though let’s be fair, settling was the best for all parties involved and it ensured that everyone walked away a winner, especially because this was by no means an open and shut case the parties who split the profits was happy and I’m sure the buyer was happy as well
@@naphackDT That and the government didn't want to set an example, because they didn't know how many coins were still out there (the ten other coins hadn't been found yet, so they were right to assume there were still other coins). It's still not legal to own these coins in the US, but they won't come after this specific one. If the government had lost in court they might have lost other court cases concerning these coins in the future.
The leprechaun from the leprechaun movies appears. "I want me gold!"
Everyone: Whoa, you can have it, I've seen your movies, I know what happens to those who get in your way.
President: execute order 6102
Coin collectors: **gets shot**
JFK: issues the Executive Order #11110 on June 4, 1963, empowering the Treasury Department of the US to issue the United States notes (NOT the "Federal Reserve notes") without permission of the Fed; hence the government didn't have to pay debt interest to the Fed.
Also JFK, soon after issuing that Order: *gets shot*
(now guess why he has been assassinated).
@Venky Wank Nope. i.pinimg.com/originals/2c/a5/d0/2ca5d0712c74b9a7c3920d06000c2e9f.jpg
But at the top of the note it was written not the "Federal Reserve Note", but "United States Note" (as shown at the image above).
@@creounity I mean, the Cuban Missile Crisis had also happened during his presidency, but I guess we'll just ignore that.
@@creounity Pretty weird that JFK would get shot in 1963 over delegating a power he already held from the Gold Reserve Act of 1934 to issue silver certificates to the Treasury Secretary during a transition away from a silver certificates. And sure, they were transitioning away from silver certificates towards Federal Reserve Notes, but the president was authorized from the same Gold Reserve Act of 1934 to establish the gold value of the dollar by proclamation, and which was the exchange rate that all the way until 1971, foreign governments were allowed to trade dollars for gold. So that the value of the dollar had been backed internationally by gold for another 8 years, even if they were not gold certificates that you could just trade in for gold.
Master Coinwalker, there're too many of them, what are we going to do with the coins?
"Illegal to own"
"Except for that one guy who bought it legit, and it's the only one in circulation."
"circulation"
@@TorreFernand of course you beat me to it
As it seems, all 22 Coins are "owned legally" right now. Most by the collections of the government, but one by a collector who legally bought it.
The others were melted down and in that process "legalized" to own. So "was illegal to own" would have been the correct way to title the video.
If you possess the coin, then it means that you got it from somebody who got it from (etc.) who stole it, therefore you are guilty of receiving stolen property. If you were reasonably unaware that you had received stolen property, then you won't be charged with an offense, but the government is well within its right to confiscate it without compensating you, since your ownership of it was not legitimate.
@@sailordolly you missed the point. Every single owner of the surviving coins (US government, 1 private collector, and American numismatists society) currently owns them legally.
FDR: haha printer go Brrrrrr
Treasury: NOOOOO! YOU CAN’T JUST MAKE US PRINT MONEY! WE NEED GOLD TO BASE OUR MONEY ON!
FDR: *haha printer go Brrrrrr*
We can print money endlessly with nothing to back it up & just stay home. My TV & gov't said so.
Wasn’t it Nixon who took the country off the gold standard?
😛
@@lazymansload520 earlier
@@lazymansload520 Yeah, I'm late, but I noticed you didn't really get an answer. All Nixon did was end the government exchange of dollars for gold at a fixed rate which allowed the government to charge market value for any gold it exchanged. Simply put FDR was the one who killed the gold standard, and it was Nixon who drove the final nail into the coffin.
Secret Service: "Ah crap, there's a very small handful of *coins* out there that didn't get melted down! Better create an entire team to go get them!"
440.00 dollars of coins= at least 4 guys every day for how many years? seems reasonable smh
Oh no! That guy is speeding! There's no need to stop him it's too expensive. OH no that guy over there is robbing a shop doesn't matter how much money is in the till anyway?
@@HypercopeEmia It's actually pretty common for the police not to bother to investigate some crimes, and to put fairly low resources into others. There is not enough money to conduct a worldwide manhunt for every jaywalker. The question is whether *this* crime requires *this* much investment
@@HypercopeEmia Oh no, that guy speeded in 1933 we need to melt his vintage car down and search the entire world for similar cars to melt down
And use taxes robbed from fools to do so.
It’s only illegal if you get caught.
Daniel Newell yeah I would just keep the coin knowing that the USA government will never get it as I wouldn’t try sell it anyway
Daniel Newell 👀
That's literally how crime works.
No, it's still illegal regardless
@@pawpatrolnews
the joke
.
.
.
.
your head
It's ILLEGAL in America. The coin is not ILLEGAL elsewhere.
There's no such thing as universal legality...
@@wrxwrx Something can be illegal under a given law and laws depend on local legislatures.
Not exactly, the USA can still claim it's their property in another country, but I'm pretty sure it would be subject to the other countries laws and diplomatic choices than the USAs
True. But, an important part of the US Treasury Dept's argument was that these coins were stolen property, and belonged to the US government. But, there's LOTS and LOTS of stolen and taken/misappropriated property in the world--some of the best examples are in museums.
@@carsonfujita-turnbull4549 They can claim. But making a claim does not make it so.
This America guy's probably pretty poor, chasing after 20 Dollar coins like that...
The way the coins were stolen is hilarious. A worked took a dead rat with him to the mint and stuffed it full of Double Eagles, dropped it out the window knowing no one would pick up a dead rat and at the end of the day collected it.
I once found a roman coin dated 671 BC but when I tried to sell it, I was told it was worthless.
And that's how taxpayer's taxes are wasted by the government.
Does it even surprise you anymore?
They did get $3.795 million out of selling the last coin.
They sent a task force to track down a collector with the coin, and after a lengthy legal battle agreed to sell the coin to another collector and split profit with the first collector. Wtf is the point there
fE F because they spent fiat money. Meaning the cost was just paper. Today we are working in a system that give us back paper. When that system fail, nothing matters but the gold. An ounce of gold in 1971 was pegged as $35. Today the same ounce is $1800. Gold is constant, only the dollar lost value. They traded nothing for something. We are taught to think gold is worthless today, but in reality gold is the real money. No effort is a waste when it comes to collecting every ounce of gold. Because when the fiat system fail, gold is the real wealth. Watch what they do, not what they say.
I doubt the Secret Service had teams dedicated to just those coins, more likely they were just an additional case to their regular counterfeit hunting mission
Imagine if the guy who bought the last coin then spent it as a normal $20 coin
*oof*
Theodore Budgen normal?
I don't know of any $20 coins that would be normal
would make sense.. sinse the "guy" who paid over $7million for a $20 coin, sounds really stupid.
Legend says he used it to buy a diet coke from a vending machine and didn't get any change.
Using the dog stock video for Stephen Fenton is brilliant. A very subtle reference.
FENTON!!!
Imagine if you will you wake up one morning in your home to the sound of someone knocking on your door. You have a major hangover from a night of heavy drinking yesterday and slowly make your way out of bed, slip on your slippers and bathrobe, grudgingly walk towards your door, answer it and get arrest for being the owner of a coin from 88 years ago.
I fear no man, but that...
*person with $20 coin*
that scares me.
Joey M Shire... Baggins!
Joey M ua-cam.com/video/neY6fGdMPQo/v-deo.html
But that person is a man!
Joey M No need to be scared if you own one, love it look at it, then melt it down for its Gold content and sell it..!!!😂😂😂🤣🤣🤣😂😂😂
Love that Mehmed referrence XD
US government: No you cant sell that coin at auction it is illegal!!!
Coin collector Fenton: Ill split the profits with you.
US government: Haha illegal coin sale go Brrrr.
Not funny; didn't laugh
@@MrTimy06 funny, did blow air out of nose
r/unexpectedbrrr moment? Yes, that is a thing since May 12th.
That’s not right! The people who found the 10 coins took it to court and they lost so how does this British collector get to sell his and keep half the profits and some unknown person gets to keep the coin?? The people who owned the 10 coins should have gotten the same deal. Govt sucks
@@ypcomchic obviously selling one is priceless selling ten is not. (If you have the only one in the world vs 10 in the world the value drops drastically and by in the world I mean not owned by the US government)
I am so overjoyed that the clip behind "Stephen Fenton" was a dog lol
FENTOOOOON
This sounds like a video game quest/achievement.
“Collect all 22 1933 double eagle gold coins and return them to the original maker.”
NOOO YOU NEED GOLD TO BACK UP MONEY
Haha money printer goes brrrr
I can't hear you over the sound of me not caring
Wren Wren Then why did you make this comment?
I see we have an avid r/dankmemes user
One of the worst things the US government has done.
Every fiat currency has failed, the dollar will be no different.
Showing that dog running through the grass field when you said the name Fenton was a stroke of genius
Best joke I love it
can someone explain to me why the Secret service was going after these coins 60 years after the fact and 30 years after the US was off the gold standard? whats the point?
I think it's safe to assume that there is a very likely possibility some of these coins do still exist in private collections, but the owners aren't stupid.
Excellent idea and I hope it’s true, but aren’t special coins like these counted?
Ah yes, when FDR literally said to steal all gold that was legally owned by citizens if necessary. Or give them fractions of pennies on the dollar for what it's worth and forcing them to accept. So technically not stealing, even though it is, just not in a court of law.
And I guess the secret service didn't have anything better to do than enforce corruption. At least they are consistent in their priorities.
Lol us really took a note from USSR on this one xD
The goverment can do this with anything too
If you own a house and the goverment wants that land, theres nothing you can really do about it
@@dinoblacklane1640 While true it is important for the government to have that kind of power otherwise individuals who answer to no one would be able to absolutely decimate the public good, imagine if JP Morgan bought a strip of land down the entire middle of the US and refused to let the US buy it for a reasonable price to build the interstate. It is important to make sure people are very fairly compensated in these scenarios but it is not a bad thing the government can prevent people from causing massive problems.
@@Outwardpd ...you're really trying to defend the goverment straight up stealing from people
...what is wrong with you?
So, if this was melted down into an exact replica of the original, how would that affect the value?
It should be spotted as a replica as everybody should know it is not one of the real coins as they are accounted for. So valued slightly above gold cost and labour? Although don't underestimate what people are willing to spend on stuff. Rational thought sometimes goes out the window.
I presume few close up scans, if any, exist of this, so itd be hard to verify as not original. However, I could be wrong, and in which case, it crashes the value to zero. If even just one exact replica exists, nobody can be sure if any of them are real. Thankfully, exact replicas are very difficult to manufacture and if you're looking at buying high end coinage, you know what to look for regarding fakes
There is no way to make an exact replica. Not only are the mold destroyed but there are details about its weight that would be wrong.
Anyone that would do that "outta have his ass removed" Clint Eastwood in The Rookie
@@tawnylyra6233 With high power microscope scanning and using the same coin as reference to the microgram of gold, a perfect replica would be produced. It would of course not be one of the original coins but it would not be possible to tell
@@peterc.1419 I mean good points but even that short amount of time their would be patina that "should" be present, is what I keep coming back to😊
Damn, I didn’t realize gold was named after the BROCKHAMPTON song, I’m so uncultured
Just read the book "Illegal Tender", amazing.
I love this guy's quick, sarcastic, deadpan humor.
The "Fenton" joke, I'm dying
😂
Levi For Waifu Fenton’s legacy lives on.
Wait a minute, you're from let the commies hit the floor video
Oh, jesus christ! Fenton!!
First class.
That did make me smile, I wondered how many spotted it.
I'm glad I'm not alone.
0:40 why does the music in the back sound like i'm being rick rolled?
Wow. 4:45 cool callback for Fenton the dog. Thought that particular viral was only a British obsession.
actually the were never stolen, but exchanged old for new at the Philadelphia mint before the actual order arrived. They were bought by a local dealer, legally. The one thing he should have gotten was a receipt saying old for new. I saw the one that was monetized. NGc has several in their vault in storage for the government
nobody:
king Farouk:
do you wanna see the most illegal thing I own
Who will win?
The money he siphoned from the Egyptian treasury
Or
One gold boi
Was that first said in vsauce? 😂
Fascinating to learn that Egypt had an illegal American historical item.
How much gold was spent hunting these coins? Lmao, government is great at wasting money, the bigger the government, the bigger the waste.
D.M.
4:39 "when the world needed him, he vanished" Avatar flashback 😂
As a coin collector I immediately knew what you were talking about. I dream about holding a 1933 double eagle before I die
"no, you can't make a coin and make it illegal to own"
USA: haha coin go illegal
Of course you can. All you have to do, is change your mind 🤪
As they say, "Render unto Caesar that which is Caesar's..."
The whole reason money has value is because the government prints it and backs up it's value, it's technically government property. Others only accept cash and value it because the government puts their face on it and promises to back it up, who are you to say that you don't owe Caesar anything?
Imagine being a collector and hearing;
"the only coin of 22 that is legal to sell and own made in the year of the great depression"
Me: Owns illegal coin
FBI wants to know your location
Well with express vpn you can do that
Funny thing is relative value of gold is also held up with little more than trust and the rest of that kinda stuff.
The 1933 Agricultural Adjustment Act -- you know, the one that confiscated privately held gold -- should have been ruled unconstitutional along with most other New Deal legislation. The Federal Reserve did not issue double eagles because they issue only paper Federal Reserve Notes. Coins are issued by the US Treasury via the mints. The Fed also does not issue US notes because they are not Federal Reserve notes.
Yup. Most of what FDR was plainly unconstitutional and Executive Order 6102 was nothing less than the robbery of the American people.
About what you would expect from the scion of a family of drug lords.
4:38
100 years passed and my brother and I discovered a new coin, a Double Eagle we stole from a British guy named Aang. And although its current value is great, we have a lot of waiting before the secondary market raises its value. But I believe it can get me out of debt.
"Big Bummer" is a great expression. Should be applied to everything else.
The Big Scuffle (parts 1 & 2)
The Nippy Period
The Big Wet
etc
Instead of melting them down or locking them in a vault, they should’ve put them in museum around the US and the world.
Kind of off topic but i once spilled a bunch of old pennies on the floor but the thing is, my floor was the color of the pennies. The pennies included a 1922 D wheat penny and i never found it again
Three for the Elven-kings under the sky,
Seven for the Dwarf Lords in halls of stone,
Nine for Mortal Men, doomed to die,
One for the Dark Lord on his dark throne
(And two in the United States Numismatics Collection)
I like when he said “Fenton” he showed a pic of a dog 🐕
the part you left out is, there was an extra $20 tacked onto the final sale price to make this coin actual money, to monetize it. The reason it was illegal to own, even before being stolen from the mint is that technically speaking, it wasn't money yet. It says $20 on it, but by law it wasn't actually money, yet.
Funny thing is, if you took it to a bank they'd give you a $20 bill for it.
Its also unclear how he acquired it. One of the theories being he acquired it from Switt, got the export permit and off it went. Israel Switt is a real piece of work by the way. The other theory is that he may have actually bought it from the mint during a very very brief window of time when it might have been possible, as there was something like a 2 week period between these coins being minted, and the EO going into effect.
Ultimately, it has become one of the most mysterious and sought after coins ever minted, along with a few others. There is potentially another Double Eagle out there that if it still exists would be worth way more, the 1849 Double Eagle. 2 in total were minted as the pattern coins for the new $20 coin, which began production in 1850. Only one is known to exist today, with rumors that its twin may still be out there somewhere.
Actually it's still a constitutional supreme law that our currency HAS to be backed by Silver and Gold.
Let's see how this one could remotely possibly out of the most unlikely situation could for an ounce in the world when no one asks for it but expected by everyone contains planes.
UPDATE
The coin has now been sold at an auction in New York City last tuesday (June 8,2021) It sold for $18.9m,which means it just set the record for the world's most valuable coin...for the second time. It was sold by the shoe designer Stuart Weitzman to an anonymous bidder.
Without even watching this I would say it is the 20 dollar double eagle circa 1933. Gold was outlawed for personal ownership in early 1933 and this double eagle was never distributed to the general public.
We would have got out of the depression faster if the money printer didn't go brrrr.
Imagine the government raiding your home for $20.
Getting their mouths stuffed with hamburgers outweighs the loss of freedom, I guess.
Disappointing that you didn’t talk about bricks at all this episode 😭
“Keep a gold chain on my neck
Fly as a jet
Boy you gonna treat me with respect”
-BROCKHAMPTON
I hate it when people get pulled over for speeding and then declare "why aren't you going out and catching the real criminals! I'm just going a little fast, this is Bullllllll!!!!"
However...., there are agents getting paid to look for lost coins. I just don't see that it's worth it. Maybe they would be put to better use writing parking tickets or something.
How that hell did that guy trick the government into giving him money for having a stolen coin?! 🤦♂️
So this coin is no longer illegal since the US sold it, and it's no longer US government property.
Would their be some sort of statute of limitations of the theft of the coins?
Fun Fact: IF everyone tried to get ALL of their money out of all the banks at the same time, the US economy would collapse because most banks only keep around 10% liquid assests. The other 90% is lent to companies, and the companies usually invest it meaning they don't really have the money either.
Every economist knows this, so there's no need to panic... Until everyone tries to get their money out of the bank, like it happened to the argentinians just before the corralito.
Good use of the dog when mentioning Mr. Fenton.
Similar situations have occurred with the 1974 aluminium pennies and the 1964 peace and morgan silver dollars. Fuckin hate FDR for making order 6102 and the Feds for being so possessive
Would be better if the coin showed it self after 100yrs, because when the world needed it most, it disappeared
Such a shame. My family has a friend that is a coin collector.
Cool story
All this needs is for Gandalf to close off: "So it is now: the Ten he has gathered to himself; the Nine also, or else they are destroyed. The Two are hidden still. But that no longer troubles him. He only needs the One..." then cut to the new owner stroking the One Coin whispering "My Precious..." :)
Imagine if you were in vegas (yeah I know, all the coins have now been accounted for) and you had a small win on the slots, and it spat one of these out with the winnings. Unless you knew what it was, you'd be "ahh crap someone stuck some old coin in the hopper" You''d be none the wiser that the funny coin was worth millions ;)
Theoretically, does a *replica* of this coin exist that could be purchased legally? (Certainly it would have to be made from different materials if it does exist in replica form, I imagine.) I'm not a coin collector, but I'm into history, and it'd be neat to get a replica as a souvenier as long as it wouldn't cause legal problems for me.
That Avatar reference though 4:39
Illegal to own where US laws apply 😇 which is roughly 37 out of 51 states. Sometimes it's 38, but that changes frequently because Floridamen are still debating if they're part of Canada or Mexico.
Uh oh
Dashlane isn’t gonna be happy when they hear about Sam’s new sponsor....
BWI Aviation and NordVPN
5:58 imagine rickrolling people (background music)
Mrs Richards: " I paid for a room with a view!"
Basil: (pointing to the lovely view) "That is Torquay, Madam."
Mrs Richards: "It's not good enough!"
Basil: "May I ask what you were expecting to see out of a Torquay hotel bedroom window? Sydney Opera House, perhaps? the Hanging Gardens of Babylon? Herds of wildebeest sweeping majestically past?..."
Mrs Richards: "Don't be silly! I expect to be able to see the sea!"
Basil: "You can see the sea, it's over there between the land and the sky."
Mrs Richards: "I'm not satisfied. But I shall stay. But I expect a reduction."
Basil: "Why?! Because Krakatoa's not erupting at the moment ?
Showing a dog when you said Fenton was class, and obscure.
How does ExpressVPN compare to FirefoxVPN?
I honestly think the US government do this kind of things just to prove a point of the extent they are willing to go for something stupid. Making in the process a deeper point of “imagine what we would do for something bigger”
Its actually a brilliant strategy
Oh yea interesting
wondered where he got that coin, thanks
They fr made a secret service task force to find 20 coins....
A coin so rare that it's literally the only one of its kind in circulation.
Someone needs to forge a bunch of fakes.
"also, nice moustache"
🤣
The rich stay rich by investing like and investing without stopping then the poor stay poor by spending like the rich yet not investing like the rich‼️‼️‼️‼️‼️‼️‼️
You are right the market is profiting if you are really a good broker or account manager 😄
Bitcoin is the future it's really a big chance to make money
Well that's generally true its concerning that several of the richest most successful investors are sitting on the sidelines right now and waiting for a better entry point
So true lol, it doesn't make sense !
It be said a little simpler, if you want to be rich then focus on saving and investing, if you want to be poor then focus on spending
Already invested in stocks and I cant really get a good returns from it
@@feliciaasima8720 the stock crash is just inevitable that's what you just have to understand
Bitcoin and forex are more profitable with the favourable market rise,
Why didn’t they just check in the cracks of the couch or in between car seats?
Coin collectors must really want this one
Now I know where/when to commit my next heist...soon as my time machine gets back from the shop.
I would just like to recognize the fact that you showed a picture of a dog when you said Fenton's name.
I'm still confused as to how the secret service is able to arrest a British citizen, surely that's out of their jurisdiction? The US can't just go to any random country and arrest a citizen for owning a coin they deem illegal surely?
A whole 20 coins. Tax dollars well spent
As a numismatist myself, I can say nice.
Um, statute of limitations?
a coin from 1907 to 1933 was based of the 2017 song called gold
Logic
The Secret Service got the job to guard the President *because* their record when it came their original job of dealing with counterfeiting and other such crime showed that they were the most competent out of all governemnt agencies.
"hoarding within the continental US" ...so if you're outside the US, wouldn't the coin be out of their reach?
thats what you would think, but you know the U.S
Yes, most of systems in the US are either overpriced or a scam.. err or both, like the health system.
Even the dollar value are based on trust, not something solid like gold. Which makes it fall under scam category.
I laughed way to hard than I should have when he said brrrrrrr 🙄😂
Wait the Coins of Zakynthos are real?
I got the coin in the thumbnail from a souvenir cart in DC a few years back.
The US split the profit but spent more than that on chasing a stupid coin. 😆😅🤣
That's our government. 😡
1:12 back when we actually had our money worth shit. I don’t like when the standard was suspended but Nixon ended it. And now our money is worthless