03-01-2012 Hour 1 Ernest Hancock AZ Centennial
minting of coins + Current Events:
03-01-2012 Hour 2 Ernest Hancock talks with
Steve Neil and AZ Centennial minting of coins:
03-01-2012 Hour 3 Ernest Hancock talks with
Steve Neil and Karen Johnson:
March 1st, 2012
Declare Your Independence with Ernest Hancock
Live on LRN.FM, M-F, 9-Noon (EST)
Studio Call-In Line: 602-264-2800
Talks about the minting of the Arizona Centennial Commemorative Medallions and all the issues surrounding the state's non-compliance of such a simple law. See below for information and details:
On 2/13/2012 11:15 PM, steve wrote:
Thanks for the heads up on this, and the work getting it into law. As a
result of reading your Friday article, I headed down there Saturday
afternoon and picked up some medallions.
Your article has a link to a pdf that is not the adopted law (engrossed
version). And that original language was amended this part April '11 to
C. The historical advisory commission shall design, produce and sell
commemorative 99.9 per cent pure gold, silver and copper medallions,
with weights that do not exceed one troy ounce. The medallions shall be
two-sided disks of not more than five millimeters in thickness, shall
have the seal of the state of Arizona struck on one side and shall have
a representation of the Arizona state flag struck on the other side
along with the text "Arizona centennial medallion – February 14, 1912 –
2012" and the weight of the disk in fractions of troy ounces or grams. The department of weights and measures shall certify the weight and
purity of the centennial medallions. The historical advisory commission
shall negotiate the manufacture and sale, which may include a
prepayment requirement for purchase, of the centennial medallions. The
sale price of the medallions shall not be more than ten per cent higher
than the manufacturing cost of the medallions or ten per cent higher
than the current value of the gold, silver or copper, whichever is
greater. Manufacturing quantity shall be produced to meet ongoing
prepaid public demand. Proceeds from the sale of centennial medallions
shall be deposited in a separate account of the state library fund
pursuant to section 41-1336, arizona revised statutes, and used by the
Arizona historical advisory commission to fund centennial legacy
projects and activities. If there are any remaining unexpended funds
after the Arizona historical advisory commission funds and maintains the
centennial legacy projects, the remaining funds shall be deposited in
the state general fund.
1. allowed to take prepayments
2. price to be greater of the cost + 10% or the current value of the
metal + 10%.
And I asked the commission members if they were charging tax, and they
said that the prices included 9.3% tax that seemed wrong to me so I
researched it and found that the original law's exemption had NOT been
amended out. I pointed this out and they said they will be refunding me
9.3% of what I paid them.
Here is the statute:
ARS 42-5061. Retail classification; definitions
A. The retail classification is comprised of the business of selling tangible
personal property at retail. The tax base for the retail classification is the
gross proceeds of sales or gross income derived from the business. The tax
imposed on the retail classification does not apply to the gross proceeds of
sales or gross income from:
(and skipping down inside A to 54.)
54. Through August 31, 2014, sales of Arizona centennial medallions by the
historical advisory commission.
SO, prices should be coming down 9.3% for everybody!
Very cool! Thanks Steve
Arizona Statehood Day
The 48th State Was Born on February 14, 1912
Arizona became a state on February 14, 1912. It was the last of the 48 contiguous states to be admitted to the union.
In 2005 the Governor of Arizona, Janet Napolitano, established a
coordinating committee to honor Arizona's centennial in 2012. The
mission of the organization is to:
Develop, encourage, and coordinate a statewide plan for Arizona’s centennial in 2012 including:
advising the legislature and state agencies on centennial history and heritage, arts and culture;
assisting the governor’s countdown to the centennial to support school children learning about Arizona’s history; and
recommending activities and projects that will ensure lasting legacy accomplishments to commemorate the centennial. In 2004, House Speaker Jake Flake said, “The Centennial will be an
unmatched opportunity to display to the rest of the country and the
world the wonders of Arizona and its amazing heritage...."
Arizona Mints Gold, Silver and Copper Medallions to
Celebrate 100 years as a State this Valentine's Day
February 14th 1912
I just got a call from retired Arizona State Senator Karen Johnson telling me that the 1 oz Medallions are in.
I called and talked to the lead man on the distribution and am waiting for more details. Jim Drake is the Assistant Secretary of State and will have the medallions available for sale at this weekend's Centennial Celebration at the Arizona State Capitol. The Secretary of State's office plans to have a 10' x 10' booth where they will make the 1oz medallions available.
The law states that the medallions
must be produced in quantities to supply all public demand and cost no
more than Cost + 10% (this is where they get funky).
They produced 1 Gold Coin - 250 Silver and 2000 Copper.
Jim Drake - Arizona Assistant Secretary of State...
The costs for the AHAC Centennial Medallions are as follows:
Gold $3510.00 (This particular coin is this cost, because of the cost of
gold at the time we had it minted. Current orders will be likely be
much less because of the recent decrease
in the cost of bullion.)
is a limit on purchase of coins, that are not prepaid. Ten coins per
family. The order form will allow for unlimited purchase.
Here is the legislation that allows for prepayment:
I hope that the State of Arizona will get a large "pre-Paid order" that will bring the cost down.... but then this is a 'government' thing.
This legislation was written by Powell Gammill, Ernest Hancock and Karen Johnson in January of 2007 in an effort to introduce precious metals to the people of Arizona.
Karen Johnson asked what could be done by a State Legislator to combat the destruction of the United States Dollar. This legislation was the result of that conversation with the Senator and her aide.
When we have a picture of the Medallion and more details we will share them. But I was asked not to buy all of the medallions so that they would have some for the events :)
More to come... this is just the beginning. We are very surprised that we got this far since the government has no idea what issues are at stake here. This was carefully maneuvered into existence with resistance from expected perches. The intended production of Gold, Silver and Copper to "supply all Public Demand" will be the test. More legislation may be needed.
More details to follow...
Former Arizona Senator, Karen Johnson, joins
Steve Neil and Ernest Hancock in the discussion