Noe sent funds from state to bankrupt coin associate

http://toledoblade.com/apps/pbcs.dll...WS24/505220343

stonej wrote:
http://toledoblade.com/apps/pbcs.dll...WS24/505220343


Hoo, boy! That story alone is enough of an indictment on the ethics of
those associated with the Ohio state coin fund. All we need now are
reports of Buddhistic gun runners being involved who claim to be
defending the US against foreign terrorists.

"Reality is what you can get away with."
~Robt. Anton Wilson

As I grew up in the Lincoln to Springfield, Illinois corridor in the
1960s to 1980s, I was acquainted with Marc Chrans. I can remember him
attending meetings of the Railsplitter Coin Club in Lincoln at the
V.F.W. post in Lincoln prior to the Bicentennial, so Marc's start as an
11 year old seems pretty accurate. I am five years older and must have
been able to drive about this same time. Marc himself was hitching a
ride from another coin dealer from Springfield.

Marc was no doubt brash in those days, but he could be extremely
helpful. I know that he gave me some information on whether or not to
take another collector's check in return for a purchase on more than
one occasion. He was always right about that type of thing.

I suspect that some of the older members of the club gave Marc coins on
consignment and never heard anything bad in this regard.

The best story that I personally remember was that Marc was in the
Springfield shop of another coin dealer about the spring of 1982 and
had a nice Mercury dime, probably one of the common WWII years that he
wanted to sell to that dealer. Marc thought it was pretty nice and I
think his price was either $85 or more likely $125. The other dealer
(still around today and one of the best capitalized dealers in this
area of the country) didn't think it was UNC and countered with an
offer of $12. Marc said "To heck with you, I'll send the coin to New
England for auction and I'll get a lot more than what I'm asking from
you!"

So, Marc sent the coin to New England R.C.G. for auction and they took
it and it was even a plate coin. Funny thing was, of the two or three
dozen plate coins on that page, the picture of this coin was the only
one that was "out-of-focus". And the coin sold, I seem to remember,
for $245. IMHO, a cautionary tale, then and now!

I took a job in Rockford, Illinois in mid-1983 and lost track of the
Marc story from there - I might see him at big time shows, but I
usually only go to two big U.S. shows twice per year. However, if Marc
got in trouble for money laundering, I would guess that he didn't even
know that such laws existed (no excuse, I know, but several respectable
Springfield bankers got in trouble for their ignorance of the same
subject at about the same time).

Just my addition to this interesting story.

oly




Edwin Johnston wrote:
stonej wrote:

http://toledoblade.com/apps/pbcs.dll...WS24/505220343


Hoo, boy! That story alone is enough of an indictment on the ethics
of
those associated with the Ohio state coin fund. All we need now are
reports of Buddhistic gun runners being involved who claim to be
defending the US against foreign terrorists.

"Reality is what you can get away with."
~Robt. Anton Wilson

oly wrote:
As I grew up in the Lincoln to Springfield, Illinois corridor in the
1960s to 1980s, I was acquainted with Marc Chrans.
snip

You may wish to send your anecdotes along to the author of the Toledo
Blade story. They seem pretty open to input there. It would be nice to
see some of their stuff flavored with comments from everyday collectors.