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Is the U.S. Mint Breaking the Law?
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Bob
Nov 4, 2011, 8:02:00 PM11/4/11
to
According to the U.S. Mint website, the gold American Eagle coins are
required by law to be minted from gold newly-mined in the United
States: https://answers.usmint.gov/app/answers/detail/a_id/223/kw/gold/session/L3NpZC8tZE5jWGlJaw%3D%3D
However, there is a story today on Coinflation.com (per Business Week)
that says that a Massachusetts company sold $1.8 billion (with a B) of
gold to the U.S. Mint in the last fiscal year:
http://www.businessweek.com/magazine/the-family-that-sells-gold-to-the-government-11032011.html.
Per this story, "The family says its extensive network of suppliers
often means they win the day. Coins ’N Things gets roughly 40 percent
of its gold from a refinery owned by the Canadian government." Now I
suppose that American gold miners c*o*u*l*d be sending their-newly-
mined to Canada for refining, and that the Canadian refinery (probably
the Royal Canadian Mint) is scrupulous about not comingling gold from
U.S. and other sources, but apparently the U.S. Mint is not asking for
certificates of origin here. A Congressional investigation, anyone?
required by law to be minted from gold newly-mined in the United
States: https://answers.usmint.gov/app/answers/detail/a_id/223/kw/gold/session/L3NpZC8tZE5jWGlJaw%3D%3D
However, there is a story today on Coinflation.com (per Business Week)
that says that a Massachusetts company sold $1.8 billion (with a B) of
gold to the U.S. Mint in the last fiscal year:
http://www.businessweek.com/magazine/the-family-that-sells-gold-to-the-government-11032011.html.
Per this story, "The family says its extensive network of suppliers
often means they win the day. Coins ’N Things gets roughly 40 percent
of its gold from a refinery owned by the Canadian government." Now I
suppose that American gold miners c*o*u*l*d be sending their-newly-
mined to Canada for refining, and that the Canadian refinery (probably
the Royal Canadian Mint) is scrupulous about not comingling gold from
U.S. and other sources, but apparently the U.S. Mint is not asking for
certificates of origin here. A Congressional investigation, anyone?
oly
Nov 4, 2011, 9:07:59 PM11/4/11
to
On Nov 4, 7:02 pm, Bob <RLWinne...@aol.com> wrote:
> According to the U.S. Mint website, the gold American Eagle coins are
> required by law to be minted from gold newly-mined in the United
> States:https://answers.usmint.gov/app/answers/detail/a_id/223/kw/gold/sessio...
> According to the U.S. Mint website, the gold American Eagle coins are
> required by law to be minted from gold newly-mined in the United
>
> However, there is a story today on Coinflation.com (per Business Week)
> that says that a Massachusetts company sold $1.8 billion (with a B) of
> gold to the U.S. Mint in the last fiscal year:http://www.businessweek.com/magazine/the-family-that-sells-gold-to-th....
> However, there is a story today on Coinflation.com (per Business Week)
> that says that a Massachusetts company sold $1.8 billion (with a B) of
> Per this story, "The family says its extensive network of suppliers
> often means they win the day. Coins ’N Things gets roughly 40 percent
> of its gold from a refinery owned by the Canadian government." Now I
> suppose that American gold miners c*o*u*l*d be sending their-newly-
> mined to Canada for refining, and that the Canadian refinery (probably
> the Royal Canadian Mint) is scrupulous about not comingling gold from
> U.S. and other sources, but apparently the U.S. Mint is not asking for
> certificates of origin here. A Congressional investigation, anyone?
I don't imagine that the average member of Congress realizes that the
> often means they win the day. Coins ’N Things gets roughly 40 percent
> of its gold from a refinery owned by the Canadian government." Now I
> suppose that American gold miners c*o*u*l*d be sending their-newly-
> mined to Canada for refining, and that the Canadian refinery (probably
> the Royal Canadian Mint) is scrupulous about not comingling gold from
> U.S. and other sources, but apparently the U.S. Mint is not asking for
> certificates of origin here. A Congressional investigation, anyone?
United States of America mints new gold coins. If they ever did
realize it, they might vote to stop minting them. Don't get Bunghole
Barney stirred up!!!
oly
ste...@no.spam.sbcglobal.net
Nov 4, 2011, 9:09:40 PM11/4/11
to
On 4-Nov-2011, Bob <RLWin...@aol.com> wrote:
> According to the U.S. Mint website, the gold American Eagle coins are
> required by law to be minted from gold newly-mined in the United
> States:
> https://answers.usmint.gov/app/answers/detail/a_id/223/kw/gold/session/L3NpZC8tZE5jWGlJaw%3D%3D
>
> However, there is a story today on Coinflation.com (per Business Week)
> that says that a Massachusetts company sold $1.8 billion (with a B) of
> gold to the U.S. Mint in the last fiscal year:
> http://www.businessweek.com/magazine/the-family-that-sells-gold-to-the-government-11032011.html.
> Per this story, "The family says its extensive network of suppliers
> of its gold from a refinery owned by the Canadian government." Now I
> suppose that American gold miners c*o*u*l*d be sending their-newly-
> mined to Canada for refining, and that the Canadian refinery (probably
> the Royal Canadian Mint) is scrupulous about not comingling gold from
> U.S. and other sources, but apparently the U.S. Mint is not asking for
> certificates of origin here. A Congressional investigation, anyone?
IIRC a while back a load of planchets was received from Australia., and I
> suppose that American gold miners c*o*u*l*d be sending their-newly-
> mined to Canada for refining, and that the Canadian refinery (probably
> the Royal Canadian Mint) is scrupulous about not comingling gold from
> U.S. and other sources, but apparently the U.S. Mint is not asking for
> certificates of origin here. A Congressional investigation, anyone?
thought of this law. And to get further OT, I have always thought that they
should refine the coin gold at Ft. Knox, and use it. For a higher profit to
the government since they own it already. And as gold is a worldwide
commodity, the American gold miners are not out of it at all. Also "pecunia
non olent".
RsH
Nov 4, 2011, 9:38:37 PM11/4/11
to
On Sat, 5 Nov 2011 01:09:40 GMT, sterrys@ no.spam.sbcglobal.net wrote:
>IIRC a while back a load of planchets was received from Australia., and I
>thought of this law. And to get further OT, I have always thought that they
>should refine the coin gold at Ft. Knox, and use it. For a higher profit to
>the government since they own it already. And as gold is a worldwide
>commodity, the American gold miners are not out of it at all. Also "pecunia
>non olent".
Perhaps those plachets from Australia were for striking and shipping the finished coins back to Australia... That sort of work is done both
>IIRC a while back a load of planchets was received from Australia., and I
>thought of this law. And to get further OT, I have always thought that they
>should refine the coin gold at Ft. Knox, and use it. For a higher profit to
>the government since they own it already. And as gold is a worldwide
>commodity, the American gold miners are not out of it at all. Also "pecunia
>non olent".
by the U.S. mint and the Canadian mint for other countries who do not have the sophisticated equipment these mints have. And as far as
striking only U.S. gold for U.S. coins... lovely, but not really feasible unless there is enough gold produced in the U.S. these days, which
might not be the case. Once upon a time that sort of thing also applied to silver, and the reason the Carson City mint was started was to
mint the silver mined out there asap into coin. Both U.S. silver dollars and trade dollars were the main production of the CC mint for as
number of years, but you do not see that going on now... They shut down that mint when the silver ran low. And even if the law is on the
books about the use of U.S. gold for U.S. gold coins, it is against some of the international treaties signed by the U.S. such as the N.A.
Free Trade Agreement... Its illegal under that treaty to shut out Canadian gold.
FWIW
RsH
Jerry Dennis
Nov 5, 2011, 8:31:04 AM11/5/11
to
On Nov 4, 9:07 pm, oly <oly2...@aol.com> wrote:
>
> I don't imagine that the average member of Congress realizes that the
> United States of America mints new gold coins. If they ever did
> realize it, they might vote to stop minting them. Don't get Bunghole
> Barney stirred up!!!
>
> oly
I don't imagine the average member of Congress realizes that there is
>
> I don't imagine that the average member of Congress realizes that the
> United States of America mints new gold coins. If they ever did
> realize it, they might vote to stop minting them. Don't get Bunghole
> Barney stirred up!!!
>
> oly
life outside the beltway. If you've never been there (DC), there
really is a difference of perception of the world between DC and the
rest of the country. I know; I lived there for five years.
Jerry
Apologies for the rant.
oly
Nov 5, 2011, 8:55:13 AM11/5/11
to
fifteenth year. I've had relatives live there (I suppose one cousin
still does) and three younger cousins who went through the
congressional staffer to professional lobbyist metamorphoses. My dad
was very close to one gentleman who served 22 years as a congressman
and two years as a member of the president's cabinet (and that
gentleman was decently very friendly to me too, although my dad was
the real connection). I still get sent to Washington D.C. from time-
to-time in regards to my work as a bank examiner, and I don't turn the
opportunities down. Rather nice place to visit, wouldn't care to live
there. The District is one of the world's most glorified slums.
My point is that in a highly centralized socialist system which is
propped up by unsecured debt and fiat money, gold gives people a small
way to preserve themselves and their savings from the all the
redistribuitonists and tax-eaters. Real statists know this, and they
invariably hate gold.
But today we seem to have a most bizarre system where the folks in
government have neither a true leftist philosophy or am understanding
of how the world works; the mentality is live for today and let the
devil catch the hindmost (someday down the line). No way of thinking,
right left or centrist doesn't get to feed off the Federal sow, at
least a little, but the leftists and the ultra-rich get almost all the
teats. At any rate, I say, let's not risk reminding those
Congressional and bureaucratic people that they are churning out gold
coins for the smart plebes who want them - or they might just stop
doing that.
oly
Bremick
Nov 5, 2011, 9:46:49 AM11/5/11
to
"Jerry Dennis" <JDen...@aol.com> wrote in message
news:d7316fb4-9bd7-4415...@f13g2000vbv.googlegroups.com...
I've lived inside and outside the beltway in the nearby VA & MD suburbs for
almost 50 years now. DC has become almost like another country to me now,
and since I retired about 15 years ago, I've only ventured in there a couple
times. The Washington Post and local TV news have little relevance to my
suburban life and interests any more. When I was working, I probably was
guilty of a certain self-absorbed importance that would turn off most folks
outside the region who couldn't care less about what happens inside the DC
beltway.
Paul Ciszek
Nov 7, 2011, 2:07:13 AM11/7/11
to
In article <465dbdce-7a28-4f70...@q13g2000vbd.googlegroups.com>,
oly <oly...@aol.com> wrote:
>
>devil catch the hindmost (someday down the line). No way of thinking,
>right left or centrist doesn't get to feed off the Federal sow, at
>least a little, but the leftists and the ultra-rich get almost all the
>teats.
Leftists like the farmers collecting subsidies and the defense contractors
>
>devil catch the hindmost (someday down the line). No way of thinking,
>right left or centrist doesn't get to feed off the Federal sow, at
>least a little, but the leftists and the ultra-rich get almost all the
>teats.
like Haliburton? The most right wing people I know draw a paycheck either
directly or indirectly from the government.
--
"Remember when teachers, public employees, Planned Parenthood, NPR and PBS
crashed the stock market, wiped out half of our 401Ks, took trillions in
TARP money, spilled oil in the Gulf of Mexico, gave themselves billions in
bonuses, and paid no taxes? Yeah, me neither."
oly
Nov 7, 2011, 5:02:14 AM11/7/11
to
On Nov 7, 1:07 am, nos...@nospam.com (Paul Ciszek) wrote:
> In article <465dbdce-7a28-4f70-9b95-b09c7e295...@q13g2000vbd.googlegroups.com>,
Yes, quite a few of the proud and independent rightists suck mightily
on the government sow, but these people do typically have some
independent resources. They are hypocrites. On the other hand, the
typical know-it-all leftist would not have a single crust without
their government dole. They are utterly pathetic.
Again, let's not go mentioning to the Feds (for any reason) that they
are issuing good gold coins. We are better off if they keep doing it
even if the original intent of the legislation is strayed from in
regards to the sources of the precious metal.
oly
> In article <465dbdce-7a28-4f70-9b95-b09c7e295...@q13g2000vbd.googlegroups.com>,
on the government sow, but these people do typically have some
independent resources. They are hypocrites. On the other hand, the
typical know-it-all leftist would not have a single crust without
their government dole. They are utterly pathetic.
Again, let's not go mentioning to the Feds (for any reason) that they
are issuing good gold coins. We are better off if they keep doing it
even if the original intent of the legislation is strayed from in
regards to the sources of the precious metal.
oly
Paul Ciszek
Nov 7, 2011, 4:08:54 PM11/7/11
to
In article <b395d9db-99d4-4276...@s6g2000vbg.googlegroups.com>,
oly <oly...@aol.com> wrote:
>>
>> Leftists like the farmers collecting subsidies and the defense contractors
>> like Haliburton? The most right wing people I know draw a paycheck either
>> directly or indirectly from the government.
>
>>
>> Leftists like the farmers collecting subsidies and the defense contractors
>> like Haliburton? The most right wing people I know draw a paycheck either
>> directly or indirectly from the government.
>
>Yes, quite a few of the proud and independent rightists suck mightily
>on the government sow, but these people do typically have some
>independent resources. They are hypocrites. On the other hand, the
>typical know-it-all leftist would not have a single crust without
>their government dole. They are utterly pathetic.
Actually, I know leftists who grow all of their own food. They would
>on the government sow, but these people do typically have some
>independent resources. They are hypocrites. On the other hand, the
>typical know-it-all leftist would not have a single crust without
>their government dole. They are utterly pathetic.
do considerably better than most people on the left or the right if
society were to collapse.
If the government were to vanish overnight, anyone whose wealth consisted
of shares of stock would find that they owned nothing, not even paper, as
physical stock certificates hardly ever change hands anymore. Even if
they did, how would their claim to partial ownership be enforced, and even
if it were, what would they own part *of*? Factories don't seem to be our
strong suit anymore. Owning shares of an oil refinery might be nice, but
I suspect that if you went there and tried to claim your share of the
output, those in physical possesion of the refinery would laugh at you and
use you for target practice.
>Again, let's not go mentioning to the Feds (for any reason) that they
>are issuing good gold coins. We are better off if they keep doing it
>even if the original intent of the legislation is strayed from in
>regards to the sources of the precious metal.
precious metal rounds? How does the purchase price compare to the gold
content? Both "Liberty Dollars" and that outfit Glen Beck was shilling
for have (or had) a pretty steep markup.
oly
Nov 7, 2011, 7:17:25 PM11/7/11
to
On Nov 7, 3:08 pm, nos...@nospam.com (Paul Ciszek) wrote:
> In article <b395d9db-99d4-4276-9597-9c51c8b27...@s6g2000vbg.googlegroups.com>,
Most leftists live like the morons that Schmidt's daughter married
into in the movie "About Schmidt". You wanna go hot tubing with Kathy
Bates, well feel free, at least you're not a homo.
oly
> In article <b395d9db-99d4-4276-9597-9c51c8b27...@s6g2000vbg.googlegroups.com>,
into in the movie "About Schmidt". You wanna go hot tubing with Kathy
Bates, well feel free, at least you're not a homo.
oly
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