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ON THE LEGALITY OF USING CANCELLED MINT DIES
Last month we discussed the medals being made using a cancelled U.S. Mint die for the 1995 Atlanta Olympic Track & Field Dollar. Coin World covered these with two articles - one by Paul Gilkes and an opinion piece by editor Steve Roach on the legality of such pieces. Here's an excerpt from the latter.
-Editor
Is it legal to produce numismatic items with X-canceled U.S. dies? The Regency Mint in Orem, Utah, is striking medals from an X-canceled U.S. Mint 1995 commemorative die for the 1996 Atlanta Centennial Olympic Games program. In 1997 the Mint sold around 2,700 dies for silver dollars and gold $5 half eagles to collectors in just two weeks. When these dies entered the marketplace, some hobbyists voiced concern that the X-canceled dies would be used to strike fake error coins for sale to an unsuspecting public. That threat never materialized. At the time, the Mint considered the foray into selling X-canceled dies as a test. Later the Mint sold coin dies directly to the public, but the dies were entirely defaced with no designs remaining. The Mint has not since sold X-canceled dies. Today, these Atlanta Centennial Olympic X-canceled dies, which were initially sold to collectors for $49, have seen a robust aftermarket with dies selling online at the $750 to $1,000 level. But is it legal to use the dies to strike medals as the Regency Mint is doing? Isn’t the purpose of the cancellation so that the dies can’t be used again? Although it is clear that it is legal to possess these dies since they were sold directly by the U.S. Mint, do strikes from these dies have the potential to confuse the public to the point where they’re considered counterfeits? Likely not. It would seem that the legality depends in part on the Regency Mint’s intent, which is not to create counterfeit coins but to use dies to produce medals. One might even say that it’s a logical next step for these X-canceled dies. There’s no denomination on them and the reverse clearly states that they were struck from a canceled U.S. Mint die. That some examples are ringed-bimetallic further reduces the likelihood of confusion that buyers would confuse these medals for an official U.S. Mint product.
To read the complete articles, see:
To read the earlier E-Sylum article, see:
MEDALS STRUCK WITH CANCELLED 1995 OLYMPIC DOLLAR DIE
(www.coinbooks.org/esylum_v16n38a19.html)
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