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Summary: There is no regulation saying that a person can't collect military coins, but it's not a good idea to use such a coin to pretend to be part of a group. Find out what makes a coin different than a medal with help from a second-generation numismatist in this free video on military coin regulations.
Brian Kuszmar is a second-generation numismatist, and the owner of Commercial Rare Coins LLC in Lauderdale By The Sea, Fla. He has been buying, selling and appraising US Coins, paper...read more
"Hello I am Brian Kuszmar with thecoinbroker.com. Let's talk about military coin regulations. As far as I am aware of there are no regulations that say that you cannot own a military coin or what they call a challenge coin. But it probably would be a bad taste to own one, and then try to sneak your way into a group. So my suggestion is don't use military challenge coins in that manner, but if you are going to collect them I would imagine that there is no regulation saying that you cannot collect military challenge coins from all different types of units. And I would imagine that there is a large growing base of collectors out there in military challenge coins, and you will start to see more books perhaps, more buy prices, and more selling prices on these types of items. But as far as I am aware of there is no regulations stopping anyone from buying or selling military challenge coins or any other type of challenge coins. Now there are no regulations for medals, and challenge medals. However, there are regulations for coins. Any item that puts a denomination on it for example the value of a dollar, fifty cents, or two dollars would be considered legal tender. And there are laws in the United States that says you cannot put a denomination on a let's call it a medal. Because once you put a denomination on a medal it becomes a coin. A legal definition of a coin it must have a usually a country of origin, and it also must have a denomination on it. So you cannot put a denomination on a challenge medal. That would probably be the only regulation that I could think of that I could find on regulations on military challenge coins."
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