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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
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.
@@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.
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.
Murica is that kind of kid who always acted like a spoiled brat in the past and everyone thought its just a phase but it wasnt and now its a grown ass narcissistic sociopath murderer :D
To me, it would seem like since the whole basis of this was to gather gold to back US currency, once the US was taken off of the gold standard, the validity of tracking down and recovering these coins would have gone away.
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).
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
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 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.
3:30 two were given to the Elves 9 were given to Man 10 were given to the Dwarfs in their mountens but they were all deceived for ther was an other one .....
Technically the executive order didn't make owning all gold coins illegal, a loophole added by Treasury Secretary Mellon as he was a coin collector. Anyway a comparable example is the 1964-D Peace dollar, over 300,000 were minted and then melted with none saved, but rumors claim that a few are out there.
Great video. When the one sold at auction for $7.59 million, there was then a $20 charge to make it a legal tender coin; in auction records it often shows up as $7,590,020.
damn bro you stacked with cash? If you do truly have over 500 gold coins you have to be dummy rich because gold coins are, believe it or not, super fucking expensive.
@@LL-ph5si well, You'd be surprised, they're expensive, but not just because they're gold. Canada made a few that where gold *plated* for instance. And while rare in the states, they're comparatively cheap. Even still, 500 gold coins of varying style and rarity is going to be more then enough to buy a decent house in many parts of the US. Gold plated proofs are sold on TV for $50 or less, too. Which I've been tempted to go for just because they look nice on a shelf and I'm not out thousands of bucks if one gets lifted.
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
@@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.
"How petty are you?" "I spent 70 years and thousands of man-hours and dollars to track down 20 coins someone sole from me at the beginning of Wold War II."
@Nigel Lush no, he's right. WW2 varies from who you ask and what you set as the starting event. If you consider the Japanese invasion of Manchuria as the start, then it's 1931. Or the Italian invasion of Ethiopia in 1935. The Japanese invasion of mainland China began in 1937. There are plenty of other events as well. The most commonly agreed upon event that officially began WW2, however, is the German invasion of Poland on September 1, 1939.
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.
I'm more fascinated by their determination and will to throw extreme effort (and presumably tons of money) on something as inconsequential as tracking down some 20 coins.
@@OtakuUnitedStudio There are certain cases where a government official's mistake is enough to make it so you can't be prosecuted. For instance, if a cop tells you that you can cross the street in a particular spot, and you do, but get arrested for jaywalking by some other cop, you can basically argue that the government tricked you (intentionally or not) into breaking the law. It's called entrapment by estoppel (which is only tangentially related to the better-known concept of entrapment). Now whether that was the collector's argument here, I have no clue.
drumset09 When The Government Seen How Much "MONEY"....Faruk Want To Pay For Coin Government Say "LEGAL TENDER"..... Certificate Issued..!!!!!...."POOR" People Want To Get Rich..... Government Say "ILLEGAL" STEAL MONEY BACK FROM POOR PEOPLE'S PLEASE....!!!!!..!😂😂😂😂😂🤣🤣🤣🤣😂😂😂😂
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
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.
I'm a coin collector, and while I know absolutely nothing about coins, I love them, and let me tell you, I was on the verge of tears when you said they melted those coins. Like, I get the reasoning, but they're so rare! So important! Why did they have to be destroyed? :'(
@1:45 Not exactly - thanks to something called _fractional reserve banking_ the USD is currently backed by... _itself._ The way it works is, for every hundred dollars in circulation, there are ten physical dollars in a bank somewhere.
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.
Andrew Gray wrote a book (Legal Tender) featuring the double-eagle coin, which really explained the whole thing, including how the coin in contention in this work-of-fiction could be declared legal, since it was (accidentally, but with the correct paper trail) handed out in change for gold that was turned in! A fascinating story!
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.
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'm sure those secret service resources could have been better used elsewhere. What was their main purpose again? Were they successful in their job later on?
As a numismatist, I would love to see more stories behind numismatics and coins like like US colonial era coins before the US Mint existed, or the Mint cabinet robbery of 1858.
There is a fantastic book about this coin titled, “Illegal Tender: Gold, Greed, and the Mystery of the Lost 1933 Double Eagle” authored by David Tripp.
Also some 1933 eagles ($10 gold) were legally released. They're very rare with maybe 30 known but okay to own. Also the 1913 Liberty Head nickel--5 known--were illegally made and sold but the feds have never made a fuss about them. The differences are that coin was never authorized and it's too late now, but arguably it could be confiscated too.
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 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.
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.
@@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.
For those who didn't yet know, a VPN does not add much security in most circumstances. if the website you are visiting starts with https as opposed to http then it is already encrypting your data (the 's' stands for secure). Also it does obscure your searches from your ISP but it gives your VPN provider full access, thus only switching who can see it. If you however live in a country where government spying on your internet usage is an actual possibility then a VPN might be worth it.
"Now the dollar is backed up by nothing but trust, apple pie, and the American dream" And gold is only backed by trust. All commodities have arbitrary value
@@pawpatrolnews I don't know where you are From, but I Think here in Germany that's different. I think it's about like that: Let's say I steal your bike, then sell it to my friend Who doesnt know it's stolen, then he becomes the Owner although I, the seller, wasn't the Owner because the buyer didn't know it was stolen. The buyer is legally the Owner and the Owner the object was stolen from can do nothing against it. That's at least the case for movable objects. Of course if someone finds out that you stole from them you still have to Pay a fine, so no valid Business tactic.
@@y33t23True, but I think here in the U.S. the person who buys stolen property (even unknowingly) still is required to give it back to the person it was stolen from. They can go after the guy that stole it to make him give back the money.
@@pawpatrolnews Not only that, but it's actually often a felony to even unknowingly buy stolen property (and definitely a felony if one knew the object was stolen). The main exception is if the person did his/her due diligence and everything seemed to be in order - but actually wasn't. Still, though, the buyer is required to return the item to the original owner, and is often out of luck financially.
Even when not on gold standard anymore the US Dollar still king of currency. Official currency in Cambodia along with the Riel & unofficially same in a few other countries + Most international illegal activities, oil & no matter where you go in the world nearly everyone knows the Local dollar extrange rate. Sterling or the Euro is nowhere near it's power in that regard
@@ommsterlitz1805 we know who the party pooper is the only reason you were invited is because every party need that one person who is a party pooper party pooper party pooper and that's you 😂
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?
Why is everyone saying this coin retrieving mission was a "waste of tax payer money". They went to great lengths far beyond what the success of the mission was worth for something as small as 20 gold coins. What do you think that says to people thinking of committing actual serious crimes against the USA? Thats called a deterrent ladies and gentlemen.
*"It is **_expressily_** forbidden and 100% unlawful for the US government to have **_any_** US currency that is **_not_** backed by the standard issuance of gold and there can never be issued any new law which may, in fact, reverse this most fundamental of constitutions."* *- US Founding Fathers*
Imagine thinking the constitution means squat. The government can and will fuck with it however they please, as much as they think they can get away with.
If we went back onto the gold standard, foreign countries would make a run on our gold reserves so fast, it would spin your head, then, the cat would be out of the bag and Everyone would find out that America doesnt have enough gold to back its currency, so the next thing on hand to barter for U.S. debt would be.... LAND. Wanna go there? The next thing would be people.
@@Winasaurus YES, Correct!!! That's _exactly_ what they do, and _have been_ doing for at least the last century since the creation of the satanic Babylonian federal reserve system! Governments & pigs _all_ trample on top of the constitution, as well as judges and even those of who are supposed to totally _protect_ the constitution - the Supreme court Justices - They're ALL corrupt to the bone, and will only every now and again give us a bone just to keep us temporarily happy for a while because, at the end of the day, they all know that we're all dumb, numb and stupid and will rarely, if _ever_ demand that we stand up for our inalienable rights and also demand that all government officials, including the judges and the pigs to protect and serve the constitution... hence why they will get away with almost anything and everything!!!
@@Rink03 But at the end of the day, all of the country's assets belong to the people, _not_ the government, _not_ the federal reserve, _not_ the treasury, _not_ the internal extortion service, none of every single last cent of each & all of the assets belong to us... NOT THEM!!
The Feds did not want to test the illegality of the coin in court, so they cut a deal with the owner That is how the 50-50 deal resulted. I have been waiting to see the Farouk double eagle displayed at a coin convention. For us coin collectors it is like the holy grail.
“Double. Eagle. It’s a series of words that means nothing to most people, but that inspires fantastic emotions in a very particular group of individuals.” Golfers: 😺
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
The same year the USA went off the Gold Standard, OPEC began to use the USD almost exclusively for oil sales, and it wouldn't be until the mid to late 2010s that other currencies such as the Euro and Yuan would start to be adopted as an alternative to the USD for oil sales. In other words, the USD moved from the Gold standard to the Petrol Standard
@@chaniibak7702 I understand that it is illegal, and I think Dwayne here is clearly confused as to what exactly happened. I don't thing stolen coins compare at all to rape and murder.
WARNING I am the unprettiest human alive and I need YT to afford my house and the desires of my two girlfriends so please observe my highly stimulating videos, dear markus
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.
Came looking. Found what I was searching for. Surprised more people didn’t pick up on it! But I suppose it was a number of years ago now. Maybe we’re just old!
So no, regular Federal Reserve Notes were never backed by gold. We always have had a fiat (trust-backed) currency, although it was much closer to a "Tri-metallic" standard initially. The government began issuing paper currency on a large scale in 1861.The American "Gold Standard" refers to the codification of international agreement whereby trade value of currency has to be backed up by sufficient gold reserve, but there is not a direct relationship to the currency.... except for gold and silver certificates, which were expressly redeemable for gold and silver. in 1933, private ownership of gold was outlawed (except jewelery and collectible coins), but it was made legal again in 1974.
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?
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
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.
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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
45 second commercial on a 6 minute...?
How is that fair?
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.
"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.
Imagine how much money the secret service wasted tracking all those coins.
Yes it’s quite crazy
The money machine didn't go brrr???
it wasn't their money. They spent the citizens' money, so no problem
at 4:55 they split the profit with the one guy. so at least they made some of the money back
Murica is that kind of kid who always acted like a spoiled brat in the past and everyone thought its just a phase but it wasnt and now its a grown ass narcissistic sociopath murderer :D
"No longer backed by gold standard"
*50 years later*
"Gimme that gold coin back, we need to melt it"
To me, it would seem like since the whole basis of this was to gather gold to back US currency, once the US was taken off of the gold standard, the validity of tracking down and recovering these coins would have gone away.
I was going to say that laws are more valuable than money. But historic and current events show facts don't care for that opinion.
"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.
Coin collector: “The secret ingredient is CRIME.” Also: slick Fenton the dog reference!
Oh Jesus Christ...
FENTON!!!
Jesus Christ Fenton
THE DEER HAS TO DIE !
Super hans
cybersquire th-cam.com/video/neY6fGdMPQo/w-d-xo.html
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?
3:30
two were given to the Elves
9 were given to Man
10 were given to the Dwarfs in their mountens
but they were all deceived for ther was an other one .....
It was three rings for the Elves, seven for the Dwarves and nine for men but who's counting, right? :P :P
@@juanjan__ Well, they are gold coins, not rings 🤪🤪🤪
@@thomasraahauge5231 Oh right... I've been a fool....
WTF happened to that there 3rd line boyo? "Dwaws in mountens"???
MusikCassette in the land of egypt king ferruk had bought another one so powerful it could controll them all
Technically the executive order didn't make owning all gold coins illegal, a loophole added by Treasury Secretary Mellon as he was a coin collector. Anyway a comparable example is the 1964-D Peace dollar, over 300,000 were minted and then melted with none saved, but rumors claim that a few are out there.
This is the most petty thing I've ever heard. Just let the coins go.
Great video. When the one sold at auction for $7.59 million, there was then a $20 charge to make it a legal tender coin; in auction records it often shows up as $7,590,020.
I’m a numismatist and have a collection of over 500 gold coins and it still gave me goosebumps when you talked about this coin.
damn bro you stacked with cash? If you do truly have over 500 gold coins you have to be dummy rich because gold coins are, believe it or not, super fucking expensive.
Crazy how Any day the government might ask for your gold and give you paper compensation
@@LL-ph5si well, You'd be surprised, they're expensive, but not just because they're gold. Canada made a few that where gold *plated* for instance. And while rare in the states, they're comparatively cheap. Even still, 500 gold coins of varying style and rarity is going to be more then enough to buy a decent house in many parts of the US.
Gold plated proofs are sold on TV for $50 or less, too. Which I've been tempted to go for just because they look nice on a shelf and I'm not out thousands of bucks if one gets lifted.
500 gold coins? you rich?
The unicorn of coins. I like to believe there is some in every nice collection that only the favorite kid learns about in a death bed confession.
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.
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.
"Execute order 6102"
"Yes, my lord."
"How petty are you?"
"I spent 70 years and thousands of man-hours and dollars to track down 20 coins someone sole from me at the beginning of Wold War II."
Bruh ww2 started in 1939 not in 1933
@@rockyhermitYT depends what event is used to classify the beginning
@@rockyhermitYT yes....it started in 1939 and so to date , 80+ years have passed
@Nigel Lush no, he's right. WW2 varies from who you ask and what you set as the starting event. If you consider the Japanese invasion of Manchuria as the start, then it's 1931. Or the Italian invasion of Ethiopia in 1935. The Japanese invasion of mainland China began in 1937. There are plenty of other events as well. The most commonly agreed upon event that officially began WW2, however, is the German invasion of Poland on September 1, 1939.
@@rockyhermitYT 31 when japan invaded China.
"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.
US Government after creating a coin: “This coin is completely legal currency”
US Government a few years later: “jk this coin is illegal”
Did you even watch video? The coin is illegal to own because it was *STOLEN* Stealing something does not make it legal to own.
Michael Inocente it was legal currency but they never actually released it to the public so Clyde IS right
69 years later (nice), this one coin is now legal currency, but we need $20 to make that happen.
I'm more fascinated by their determination and will to throw extreme effort (and presumably tons of money) on something as inconsequential as tracking down some 20 coins.
@@amunak_ weighing 30 grams of gold, they are worth $1,700 in gold value alone
I appreciate that you put a video of a dog running in a park for the name “Fenton”
It never ceases to amaze me how disgustingly, irresponsibly and wastefully petty the US government is...
Reddit moment
@@tylerlackey1175 No, normal fucking country moment. European countries don't spend millions of dollars invading Iraq.
🧌
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 to own this coin!"
"The US Government gave an export license"
Wouldn't that make the coin legal?
That's y it wasn't confiscated
Not exactly, it just means the person in question didn't know that it was illegal. The customs official made a mistake.
@@OtakuUnitedStudio There are certain cases where a government official's mistake is enough to make it so you can't be prosecuted. For instance, if a cop tells you that you can cross the street in a particular spot, and you do, but get arrested for jaywalking by some other cop, you can basically argue that the government tricked you (intentionally or not) into breaking the law. It's called entrapment by estoppel (which is only tangentially related to the better-known concept of entrapment). Now whether that was the collector's argument here, I have no clue.
@@TamzinHadasa that was the exact argument infact they argued the export license made it legal to own
drumset09 When The Government Seen How Much "MONEY"....Faruk Want To Pay For Coin Government Say "LEGAL TENDER"..... Certificate Issued..!!!!!...."POOR" People Want To Get Rich..... Government Say "ILLEGAL" STEAL MONEY BACK FROM POOR PEOPLE'S PLEASE....!!!!!..!😂😂😂😂😂🤣🤣🤣🤣😂😂😂😂
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
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.
Using the dog stock video for Stephen Fenton is brilliant. A very subtle reference.
FENTON!!!
I'm a coin collector, and while I know absolutely nothing about coins, I love them, and let me tell you, I was on the verge of tears when you said they melted those coins. Like, I get the reasoning, but they're so rare! So important! Why did they have to be destroyed? :'(
"Because f**k you, that's why." - US government, probably
I’m not a coin collector, but it still physically hurt me to hear that they destroyed something of such rarity and historical value
Because government is collectivized, weaponized, distilled, malicious stupidity.
Whenever HAI talks about illegal things I half expect him to talk about bricks at the start of the video.
Bricks?
dfgdfgdfg dfgdfgdfg reference to an earlier video where he started the video talking about bricks as a joke way to hide it from the government
It wasn't illegal, though, just secret.
@@shannonmikko9865 What's the title/ link?
Edward th-cam.com/video/QqEuO5im1nA/w-d-xo.html
I knew it all along. He's a criminal. I mean normal people don't talk about aeroplanes that much, normal people talk about bricks
Yeah, normal people talk about bricks.
I do
@@OtakuUnitedStudio exactly my point
never a truer word said
@1:45 Not exactly - thanks to something called _fractional reserve banking_ the USD is currently backed by... _itself._ The way it works is, for every hundred dollars in circulation, there are ten physical dollars in a bank somewhere.
This America guy's probably pretty poor, chasing after 20 Dollar coins like that...
1:40 does this mean that I can go to a bank and ask to withdraw apple pie in exchange for my money?
Jaden Schalck Yes, this is a little known life hack.
Yes, but they contract that service out to your local bakery, and they will probably just redirect you there
Usually they give you Dreams instead
@manuel hernandez will you accept pumpkin pie?
nah you have to go to a bankery...
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.
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.
Andrew Gray wrote a book (Legal Tender) featuring the double-eagle coin, which really explained the whole thing, including how the coin in contention in this work-of-fiction could be declared legal, since it was (accidentally, but with the correct paper trail) handed out in change for gold that was turned in! A fascinating story!
I died when they showed b-roll of a dog at the mention of "Fenton"
“Let me show you the most illegal thing I own”
No
Looking for this comment
I have a bald eagle feather I picked up at a wild bird rehabilitation center. It's a felony feather.
Yes go ahead, i wont tell
I have 3 grams of weed in my sock drawer for my depression. “BOOM” “BOOM” “DEA OPEN UP”
I fear no man, but that...
*person with $20 coin*
that scares me.
Joey M Shire... Baggins!
Joey M th-cam.com/video/neY6fGdMPQo/w-d-xo.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 once found a roman coin dated 671 BC but when I tried to sell it, I was told it was worthless.
This sounds like a video game quest/achievement.
“Collect all 22 1933 double eagle gold coins and return them to the original maker.”
US government: let’s hunt down these coins cause they’re too valuable
Also US government: makes those coins even more valuable
I'm sure those secret service resources could have been better used elsewhere. What was their main purpose again? Were they successful in their job later on?
As a numismatist, I would love to see more stories behind numismatics and coins like like US colonial era coins before the US Mint existed, or the Mint cabinet robbery of 1858.
Or the Ice Cream Dime of 1894!
1964D Peace Dollar, similar trajectory
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.
Would be better if the coin showed it self after 100yrs, because when the world needed it most, it disappeared
1:36 Like dragons are going to be stopped by that.
There is a fantastic book about this coin titled, “Illegal Tender: Gold, Greed, and the Mystery of the Lost 1933 Double Eagle” authored by David Tripp.
Thanks. Just ordered it. Got to wait a month for it to cross the pond though as there’s no U.K publisher.
"NOOOO you can't just have the entire American currency system backed up by nothing!"
Nixon: haha money printer go brrrrr
Uh, it was Nixon that unlinked the gold standard from currency.
And technically the fed is independent so it should really be the fed chair
Even a completely fiat currency still needs to keep inflation at bay, or it loses trust and collapses. They are too smart to allow that.
@@polokan Shows me for not paying attention. Thanks.
Doest my dollar still buy a honey bun?
4:35 " and when the world needed it most, it vanished."
100 years passed and my brother and I discovered the new Avatar, an Airben-
Ok I'll stop 😋
An air bender, isn't that just a fancy word for someone with gastro-intestinal issues?
Lmao I was literally scrolling down if any other Atla follower had noticed the reference
@@thegameproyect720 😁
@@thegameproyect720 same here 🤣
Finally someone noted the Atla reference ... #Orderofthewhitelotus
Also some 1933 eagles ($10 gold) were legally released. They're very rare with maybe 30 known but okay to own. Also the 1913 Liberty Head nickel--5 known--were illegally made and sold but the feds have never made a fuss about them. The differences are that coin was never authorized and it's too late now, but arguably it could be confiscated too.
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 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?
For those who didn't yet know, a VPN does not add much security in most circumstances. if the website you are visiting starts with https as opposed to http then it is already encrypting your data (the 's' stands for secure). Also it does obscure your searches from your ISP but it gives your VPN provider full access, thus only switching who can see it. If you however live in a country where government spying on your internet usage is an actual possibility then a VPN might be worth it.
"Now the dollar is backed up by nothing but trust, apple pie, and the American dream"
And gold is only backed by trust.
All commodities have arbitrary value
Gold is useful in industrial applications however and of sufficient rarity to be exensive.
Somone: has this coin
U.S Government: *Wait that's illegal*
Did you even watch video? The coin is illegal to own because it was *STOLEN* Stealing something does not make it legal to own.
@@pawpatrolnews I don't know where you are From, but I Think here in Germany that's different. I think it's about like that: Let's say I steal your bike, then sell it to my friend Who doesnt know it's stolen, then he becomes the Owner although I, the seller, wasn't the Owner because the buyer didn't know it was stolen. The buyer is legally the Owner and the Owner the object was stolen from can do nothing against it. That's at least the case for movable objects. Of course if someone finds out that you stole from them you still have to Pay a fine, so no valid Business tactic.
@@y33t23True, but I think here in the U.S. the person who buys stolen property (even unknowingly) still is required to give it back to the person it was stolen from. They can go after the guy that stole it to make him give back the money.
@@y33t23 Yes, every Jew whose ancestral wealth was stolen by your government of the 1830s and 40s knows this.
@@pawpatrolnews Not only that, but it's actually often a felony to even unknowingly buy stolen property (and definitely a felony if one knew the object was stolen). The main exception is if the person did his/her due diligence and everything seemed to be in order - but actually wasn't. Still, though, the buyer is required to return the item to the original owner, and is often out of luck financially.
1:41 "and now the US dollar is backed up by nothing but trust, apple pie, and the American Dream"
so basically just trust and apple pie?
Just apple pie
If its Apple pie, Jason Biggs already fucked it....
It's all a joke, when it's taken from us, you'll know why! Cause we never had it
Even when not on gold standard anymore the US Dollar still king of currency. Official currency in Cambodia along with the Riel & unofficially same in a few other countries + Most international illegal activities, oil & no matter where you go in the world nearly everyone knows the Local dollar extrange rate. Sterling or the Euro is nowhere near it's power in that regard
John Chessant ...
Coin: Exists
Person: picks up coin
POLICE PUT UR HANDS UP YOUR GOING TO JAIL
@@ommsterlitz1805 we know who the party pooper is the only reason you were invited is because every party need that one person who is a party pooper party pooper party pooper and that's you 😂
Did you even watch video? The coin is illegal to own because it was *STOLEN* Stealing something does not make it legal to own.
Michael Inocente why are you copying and pasting this comment everywhere?
@@MC_MMV Hmm, do you really trust someone who has the word Potato as part of their name?
@@ommsterlitz1805 Every party needs a pooper that's why they invited you. Party pooper. Party pooper.
If it were mine, you would never know if I had it in my possession. Also if one comes across a treasure one does not tell another about it.
Then what's the point of having it? It isn't like it's a work of art that's super nice to look at, it's a bragging item.
@@bobbyfeet2240 No, it's an investment item. That's why collectors collect.
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?
When America’s economy completely crashes causing thousands to go homeless and starve: Big Bummer.
Thats what im saying, this guy lost ALL credibility for saying this... it WAS and IS still called the great depression
Adam S no sense of humor....also nvm the fact he did mention the known name... shame on you...
@@adams2280 sensitive much?
expressvpn ad : "I have used expressvpn for years"
nordvpn ad : "I have used nordvpn for years"
hmm
This boi so protected he dont exsist
You're dreaming, please, wake up
He's using ExpressVPN on top of NordVPNto hide that he is trying to sell the 22nd Double Eagle
double vpn lol
@MinecraftPro15 what on earth is i.kym-cdn??
@MinecraftPro15 yes, but a lot of websites on adfly use a similar type of url, so i was a bit suspicious.
You should do a colab with the guy from Wendover. You both have the same sense of humour and would make great content!
They even sound kinda the same!
how would we tell the difference between them?
@@equaius893 One would be half as interesting as the other.
I am wendover
And i am HAI
ANd wE ArE NOT tHe SaME PeRsoOOOOOooON
Equaius one would talk directly about planes while the other one would reference them indirectly at every chance
Why is everyone saying this coin retrieving mission was a "waste of tax payer money". They went to great lengths far beyond what the success of the mission was worth for something as small as 20 gold coins. What do you think that says to people thinking of committing actual serious crimes against the USA? Thats called a deterrent ladies and gentlemen.
*"It is **_expressily_** forbidden and 100% unlawful for the US government to have **_any_** US currency that is **_not_** backed by the standard issuance of gold and there can never be issued any new law which may, in fact, reverse this most fundamental of constitutions."*
*- US Founding Fathers*
Indeed.
Imagine thinking the constitution means squat. The government can and will fuck with it however they please, as much as they think they can get away with.
If we went back onto the gold standard, foreign countries would make a run on our gold reserves so fast, it would spin your head, then, the cat would be out of the bag and Everyone would find out that America doesnt have enough gold to back its currency, so the next thing on hand to barter for U.S. debt would be.... LAND. Wanna go there? The next thing would be people.
@@Winasaurus YES, Correct!!! That's _exactly_ what they do, and _have been_ doing for at least the last century since the creation of the satanic Babylonian federal reserve system! Governments & pigs _all_ trample on top of the constitution, as well as judges and even those of who are supposed to totally _protect_ the constitution - the Supreme court Justices - They're ALL corrupt to the bone, and will only every now and again give us a bone just to keep us temporarily happy for a while because, at the end of the day, they all know that we're all dumb, numb and stupid and will rarely, if _ever_ demand that we stand up for our inalienable rights and also demand that all government officials, including the judges and the pigs to protect and serve the constitution... hence why they will get away with almost anything and everything!!!
@@Rink03 But at the end of the day, all of the country's assets belong to the people, _not_ the government, _not_ the federal reserve, _not_ the treasury, _not_ the internal extortion service, none of every single last cent of each & all of the assets belong to us... NOT THEM!!
4:37 "When the world needed it most it vanished" #ATLA
The Feds did not want to test the illegality of the coin in court, so they cut a deal with the owner That is how the 50-50 deal resulted. I have been waiting to see the Farouk double eagle displayed at a coin convention. For us coin collectors it is like the holy grail.
“Double. Eagle. It’s a series of words that means nothing to most people, but that inspires fantastic emotions in a very particular group of individuals.”
Golfers: 😺
What about albania ?
Also people looking for a new band name.
I thought Double Eagle was a balloon.
@@lolmanboss And Poland, or Russia, etc...
Isn't that an albatross if you get -3?
There are no illegal coins, only illegal governments.
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😊
With ExpressVPN, they will never know that you were smuggling these gold coins to your secret stash
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?
The same year the USA went off the Gold Standard, OPEC began to use the USD almost exclusively for oil sales, and it wouldn't be until the mid to late 2010s that other currencies such as the Euro and Yuan would start to be adopted as an alternative to the USD for oil sales.
In other words, the USD moved from the Gold standard to the Petrol Standard
Showing that dog running through the grass field when you said the name Fenton was a stroke of genius
Best joke I love it
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? 😂
Why can’t they just let people have their fun? Just tell people, “these coins are not legal tender.” Why did they have to melt them down?
You’re actually serious, aren’t you?
They were worth millions, they're literally antiques, and they didn't want them in circulation since the start
Maybe because there're rules. I mean, you can't be having rapists ans serial killers running around just because they're having fun.
@@chaniibak7702 I understand that it is illegal, and I think Dwayne here is clearly confused as to what exactly happened. I don't thing stolen coins compare at all to rape and murder.
You ppl are the wprst type of ppl. Each ome of you
alternative title: why the government is almost useless except for finding coins
The big bummer will forever be how I refer to the Great Depression from this point forward
4:44 that Fenton joke is high brow culture
4:39 "when the world needed him, he vanished" Avatar flashback 😂
Guy: *Has cool coin*
USA: *Hippity hoppity your coin is now my property*
WARNING I am the unprettiest human alive and I need YT to afford my house and the desires of my two girlfriends so please observe my highly stimulating videos, dear markus
The coin was technically speaking always their property
Did you even watch video? The coin is illegal to own because it was *STOLEN* Stealing something does not make it legal to own.
🤣
It was always their property, that's why it's illegal to have you know 🤔
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.
I love this guy's quick, sarcastic, deadpan humor.
How that hell did that guy trick the government into giving him money for having a stolen coin?! 🤦♂️
"Stephen Fenton"
*Shows a Labrador*
Nice touch...
@Omar Farooq look up "fenton" on youtube
Came looking. Found what I was searching for. Surprised more people didn’t pick up on it!
But I suppose it was a number of years ago now. Maybe we’re just old!
I bet they spent millions and millions of dollars trying to get those coins back spending all our taxpayer money on that what a great job
Does it even surprise you?
@@lolmanboss no
@@lolmanboss not at all
I know right!
Me: Owns illegal coin
FBI wants to know your location
Well with express vpn you can do that
So no, regular Federal Reserve Notes were never backed by gold. We always have had a fiat (trust-backed) currency, although it was much closer to a "Tri-metallic" standard initially. The government began issuing paper currency on a large scale in 1861.The American "Gold Standard" refers to the codification of international agreement whereby trade value of currency has to be backed up by sufficient gold reserve, but there is not a direct relationship to the currency.... except for gold and silver certificates, which were expressly redeemable for gold and silver. in 1933, private ownership of gold was outlawed (except jewelery and collectible coins), but it was made legal again in 1974.
4:37 when the world needed it most, it vanished....gave me proper avatar vibes...
Me: Picks up illegal coin
FBI: That's very illegal. Here's a jail sentence for you
Wait, please I have oil!
"Money printer go brrrrrrr..." Love the WallStreetBets reference.
OH, please keep talking, I’m half interested in what you have to say !
"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?
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
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.
"How old are you?"
"I get the Fenton reference. So very."
Imagine getting your house raided by the Secret Service for having a coin your grandmother gave you.
Did they at least lower it again after they were done? ;)
@@varana wdym, it says raided...
Someone has this coin
The government *wait that's actually for once actually illegal*
edge lord it’s a first
Did you even watch video? The coin is illegal to own because it was *STOLEN* Stealing something does not make it legal to own.
These ads are killing you.
2:45 'task force'
my dumbaxe thinking that's an SCPF reference: