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STATE BY SPANNAUS v. COIN WHOLESALERS, INC.

No. 46142.

250 N.W.2d 583 (1976)

STATE of Minnesota, By its Attorney General, Warren SPANNAUS, and Edward J. Driscoll, Commissioner of Securities, Respondent, v. COIN WHOLESALERS, INC., et al., Appellants.

Supreme Court of Minnesota.

December 30, 1976.

Attorney(s) appearing for the Case

Hvass Weisman & King and Russell F. Pannier, Minneapolis, for appellants.

Warren Spannaus, Atty. Gen., Richard B. Allyn, Sol. Gen., Thomas R. Muck, Asst. Atty. Gen., Barry R. Greller, Spec. Asst. Atty. Gen., St. Paul, for respondent.

Howard Schneider, General Counsel, Richard E. Nathan, Deputy General Counsel, and Charles E. Hord, Commodity Futures Trading Comm., Washington, D. C., amicus curiae seeking affirmance.

Considered and decided by the court en banc.

ROGOSHESKE, Justice.

The State of Minnesota brought this action against defendants for alleged violations of state law in connection with their sale of United States silver coins on margin to the public. Defendants were specifically charged with the sale of unregistered securities; violation of the antifraud provisions of the Minnesota Securities Act, Minn.St. 1974, c. 80A; and violation of Minn.St.1974, § 325.79 (consumer fraud), and Minn.St. 325.905 (false...

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