Michigan Posted June 22, 2005 Report Share Posted June 22, 2005 Comes as no big surprise considering all that has been going down in Ohio lately. http://toledoblade.com/apps/pbcs.dll/artic...EWS24/506220345 Quote Link to comment Share on other sites More sharing options...
Rabone Posted June 23, 2005 Report Share Posted June 23, 2005 Oh my gawd! And so the backlash begins. Where does it end? Federal inspectors regulating third party grading services? Complete Federal reporting of all coin transactions done at your local coin dealer and bourse floors? State registration and credentialing of numismatic dealers? I know so far it is only at the state level, and in only one state, but it is directly tied to a federal campaign, and a large federal campaign rainmaker. The Feds are just waiting and watching till they crash the party. Quote Link to comment Share on other sites More sharing options...
28Plain Posted June 23, 2005 Report Share Posted June 23, 2005 Bureaucrats and politicians will seize upon any pretext to further their control over people's private business. I despise them all. Quote Link to comment Share on other sites More sharing options...
Michigan Posted June 23, 2005 Author Report Share Posted June 23, 2005 Oh my gawd! And so the backlash begins. Where does it end? Federal inspectors regulating third party grading services? Complete Federal reporting of all coin transactions done at your local coin dealer and bourse floors? State registration and credentialing of numismatic dealers? I know so far it is only at the state level, and in only one state, but it is directly tied to a federal campaign, and a large federal campaign rainmaker. The Feds are just waiting and watching till they crash the party. It could very well come to the feds regulating the grading services. Since the Ohio coin fund was using the grading services as part of their investment strategy they could find themselves being labeled as an "unregulated" investment vehicle and come under some kind of govt. oversight. If the political donations from Noe were coming out of money from the coin fund then things could become very ugly for the coin business in general especially since coins have been touted as an "investment" for quite some time now. Angry politicians being charged with accepting illegal donations from an investment fund that was investing money in an unregulated business....... it is not a pretty sight and I would not be surprised to see legislation introduced in congress to crack down on how the grading services do business and dealers in general who tout coins as an investment. This might play itself out over the next couple of years. Quote Link to comment Share on other sites More sharing options...
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