Secret Service bans some PM coinage on eBay

Discussion in 'Financial Cents' started by CATO, Dec 20, 2012.

  1. CATO

    CATO Monkey+++

  2. JABECmfg

    JABECmfg multi-useless

  3. CATO

    CATO Monkey+++

    WTF?? All FRNs come with the force of law that begs to differ:
    I understand having to get someone's license info if they're selling something, but banning cash?? [dunno]

    I know what they're doing . . . I just wish they'd have the nuts to come out and say it.
  4. kckndrgn

    kckndrgn Monkey+++ Moderator Emeritus Founding Member

    They did come out and say it:
    So now they'll be able to track what you buy, when you bought it and for how much. Don't forget, I'm sure they'll need to see those records to make sure all sales taxes have been collected as well!
  5. CATO

    CATO Monkey+++

    I was looking more along the lines of:

    "We know what the law is about accepting cash for payment and we don't care. We have this idea of what we need to do and we don't really care if it infringes on any of your rights."

    The "ends" will always justify the "means" with the jackboots.
  6. kckndrgn

    kckndrgn Monkey+++ Moderator Emeritus Founding Member

    Agreed and when they start saying it like that thing will be much worse than they are now. And they won't say it like that because then even the reality show watching numbnuts might understand what is happening
  7. larryinalabama

    larryinalabama Monkey++

    The libs are alaways passing useless laws so they "feel good".

    Whos gonna buy a pound of pot with a credit card?? Or with pot and cash now illegal everyone will be streight.

    Theres really no hope left for this country.
  8. techsar

    techsar Monkey+++

    The LA law doesn't ban the use of cash. But don't let facts interfere with your discussion...;)

    But to get back on topic, when you produce a coin that says "USA", "in God We Trust", "Twenty Dollar", you know damned well you are looking for trouble. I would bet if the coins didn't make an effort to look like US coinage there would not have been an issue. What I didn't see was where he was warned to cease a couple times before they cracked down on his operation.
  9. CATO

    CATO Monkey+++

    Lots of "mints" put "dollar" denominations on their coins. The coin in question doesn't have "legal tender" anywhere on it . . . it's basically a hunk of silver with an image that people associate with money. In addition, who would actually trade an ounce of silver for $20 these days??

    I don't see the feds going after the Liberian mint.

    2000$20Jackson. 2000$20Jacksonb.
    2000$20Jackson. 2000$20Jacksonb.
  10. kckndrgn

    kckndrgn Monkey+++ Moderator Emeritus Founding Member

    Here's a link to the LA law on the second hand transactions:

    Looks like the "no cash" part is solely aimed at the dealer paying the seller for the items. I could be wrong, I don't read these law's very well since they are in lawyer speak, but it looks like the thrift stores that sell stuff (Goodwill, Salvation Army, etc.) are not included in the "no cash".

    Back on topic, yes, the guy was given multiple warnings and was told what was wrong with his coins. He didn't stop producing and selling, which is what got him in trouble.
  11. cdnboy66

    cdnboy66 Monkey++

    If I were a second hand dealer in LA, I would habve a rack of those prepaid credit cards for sale, allow people to pay cash for the credit card, vendor collects the fee, then client can use the anonymous credit card to make a purchase, vendor collects fee again.
    Still allows your clients to use cash, satisfies the legal beagles and you make more money on the same transaction.
    When client complains the transactions cost them more money, point to the Goob and blame them.

    You could do the same buying used goods, Here's a prepaid Visa for $100 for that guitar
  12. Gator 45/70

    Gator 45/70 Monkey+++

    I believe the La. law is aimed a scrap yard's and stolen metal's...Need to I.D.the bad guy's now..and...
    Flea market cash sale's...This is aimed at...Hey !!! we want taxes paid on these exchange's...Flea market's are still wide open, Scrape yard's not so much..Now a picture is taken of the seller and a check issued...
  13. Tikka

    Tikka Monkey+++

    "Attempts to undermine the legitimate currency of this country are simply a unique form of domestic terrorism,"

    As he has done more to damage the legitimate currency of this nation, when will they go after 0bama for domestic terrorism?
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