Thursday 2 May 2013

Black Markets and the Münzen....


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Wayne Sayles adds to his discussion of the sworn translation of the Bundesfinanzhof verdict the comments:
Finally, it should be said that many critics of the ACCG, private collectors and the numismatic trade have the mistaken belief that the "hobby" (more of an avocation for most) is opposed to import controls because collectors want access to "black market" coins.  That is an unfortunate characterization that is entirely false, but it does resonate with some mindsets.  
It actually resonates with what these people are openly opposing, and have been since the US started partially honouring its obligations as a state party of the 1970 UNESCO Convention, which is to see that US importers of cultural property from source countries which are also states parties to the Convention behave in accordance with its principles. That means requiring export licences for any goods for which the source country has a right (1970 Convention Art. 1) to impose such measures.

If collectors do not actually want black market coins" why are they not taking the obvious steps required to avoid their inclusion in the trade, which is to require proper verifiable information confirming the licit provenance of any items offered to them by the so-called "reputable" sellers?  On what else could a "reputation" be built in the current market? As suppliers merely of "they-can't-touch-you-for-it" goods?

Sayles adds, as if in some form of self-justification:
The ACCG has consistently, since its inception nine years ago, asked all members, dealers and government officials to follow the applicable laws wherever they live or visit.  
But is that enough to cut out the involvement of US dealers and collectors in handling coins deriving from the black market outside "wherever they live or visit"? Of course it is not. The ACCG code is as useful as a wet paper bag.  A cynic might suggest that this is precisely what it is meant to be, just fluffy camouflage of no real meaning, just to provide a façade of respectability. Let the "collectors" of the ACCG show that the cynics are wrong by beginning a proper discussion of how they can in fact eliminate coins originating from the black markets of the Old World once and for all from the US market.



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