Rare-coin odyssey put Noe in contact with mix of..

[Guest Stujoe]

http://toledoblade.com/apps/pbcs.dll/artic...EWS24/507170318

[Art]

Long article, but worth the time to read it. It gives an interesting background on Noe and his buddies.

[Guest Stujoe]

Where there is big money to be made, there will always be riverboat gamblers, Ms. Deisher said.

 

I like this quote. Especially since there were so many scammers and con men amongst the 'pro' riverboat gamblers of days gone by. That may or may not have been her intention in the quote but I like it none the less.

[Mediccoin]

That is an interesting story. Now I can better understand that whole story.

[28Plain]

"Mr. Storeim ran Numismatic Professionals Limited in Evergreen, Colo., which served as one of several subsidiaries set up by Mr. Noe to buy and sell coins. Two of the four coins went missing on Oct. 27, 2003, from an Express Mail package on its way back from a grading firm, Mr. Storeim told Colorado police."

 

Isn't it unusual for a grading service to send coins by express mail? I thought that was usually done by registered mail.

 

The tone of the Blade report is that the federal government should have control of licensing for coin dealers. That's absolute nonsense, of course.

[Michigan]

"Mr. Storeim ran Numismatic Professionals Limited in Evergreen, Colo., which served as one of several subsidiaries set up by Mr. Noe to buy and sell coins. Two of the four coins went missing on Oct. 27, 2003, from an Express Mail package on its way back from a grading firm, Mr. Storeim told Colorado police."

 

  Isn't it unusual for a grading service to send coins by express mail?  I thought that was usually done by registered mail.

 

  The tone of the Blade report is that the federal government should have  control of licensing for coin dealers.  That's absolute nonsense, of course.

 

 

 

That might be a fallout from the scandal since coins are being touted as an

investment by a number of dealers.

 

Anyone remember in the early 1980s when the FTC was considering regulations

for coin dealers and the dealers responded with various "self regulation"

proposals?

 

The FTC failed to act and the self regulation talk disappeared quickly.

 

 

This time I'm not so sure things will blow over quickly. A proposal to have some

kind of regulation of coin dealers selling coins as an investment could be

introduced in Congress.

[28Plain]

I wouldn't be surprised. A Congress which feels empowered to regulate the amount of water a private citizen's toilet can use per flush apparently doesn't recognize any limits on its power to legislate and regulate.

 

Congress members regard the US Constitution as a quaint and obsolete list of suggestions rather than as a strict listing of their lawful powers and the supreme law of the land.

 

The Constitution isn't perfect but it certainly is superior to the police state we live under today.