Posted on 08/28/2005 9:32:13 PM PDT by FairOpinion
After a family asks U.S. Mint to authenticate 10 old coins, gov't grabs them. Potential value: $10M.
A Philadelphia antiques dealer plans to sue the U.S. Mint to recover rare gold coins worth millions of dollars that the federal government has seized because it says they were illegally obtained.
Ten "Double Eagle" $20 coins minted in 1933 were discovered in September in a Philadelphia antiques and jewelry store and voluntarily handed by its owners, the Langbord family, to the Mint for authentication.
In June, the Mint confirmed they were the coveted Double Eagles but informed the Langbords that the coins were being sent for safe-keeping to the U.S. Bullion Depository at Fort Knox, Kentucky, because the family had no right to them.
the 10 recently discovered were obtained in 1937 by Israel Switt, an antiques dealer and ancestor of the Langbord family, in whose store the coins were found. Switt died in the 1980s.
Mint officials believe Switt got at least 20 of the coins from a cashier at the Philadelphia Mint who was later convicted of a crime relating to his work there.
A Mint official, speaking to Reuters on condition of anonymity, said no such proof is needed because the coins were never issued and so always remained government property.
(Excerpt) Read more at money.cnn.com ...
| US Mint confiscates gold coins that never officially existed |
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| Posted by RoyalsFan On News/Activism 08/26/2005 4:50:46 PM CDT · 98 replies · 1,615+ views Yahoo ^ | 08/26/05 NEW YORK (AFP) - The American 20-dollar 1933 "double eagle" is one of the rarest and most valuable coins in the world. JoanLangbord of Philadelphia found 10 of them, and now the US government has taken them away. Compounding Langbord's sense of loss -- a double eagle auctioned in 2002 sold for a world-record 7.6 million dollars -- is the fact that it was her own decision to inform the government of her discovery that led to their confiscation. The 10 coins were hidden for decades in the possessions of Langbord's father, Israel Switt, who ran an antique jewelry... |
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| U.S. Mint Confiscates 10 Rare Gold Coins |
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| Posted by LibWhacker On News/Activism 08/25/2005 11:52:28 AM CDT · 208 replies · 4,541+ views Yahoo | AP ^ | 8/25/05 PHILADELPHIA - The U.S. Mint seized 10 Double Eagle gold coins from 1933, among the rarest and most valuable coins in the world, that were turned in by a jeweler seeking to determine their authenticity. Joan S. Langbord plans a federal court lawsuit to try to recover them, her attorney, Barry H. Berke, said Wednesday. Langbord found the coins among the possessions of her father, longtime Philadelphia jeweler Israel Switt, who had acknowledged having sold some of the coins decades ago. She now operates her father's business. David Lebryk, acting director of the Mint, had announced in a news release.. |
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This is really bad news for anyone living on illegally obtained Indian land.
This is really bad news for anyone who "owns" anything.
Thanks -- my search didn't catch those, because they keep changing the titles.
My country has become Grouchland.
Maybe we haven't figured it out yet, but Big Daddy owns everything. Everything we have is temporary possession, and on some, we have to pay a fee to keep it.
Were these coins by any chance investments by the Ohio Bureau of Workers Compensation?
These were privately owned by that family. The Ohio stuff is something else. But now that you mention it, I do wonder what coins they owned.
Statute of limitations??
My thoughts exactly.
"Statute of limitations??"
I thought of that too. But I think that just means that they won't be criminally prosecuted, but the government can still take back the loot.
Of course this will probably put a dent into the entire rare coin business, because many coins are rare, because they weren't given to the government to be destroyed, when it was requested, so they are owned "illegally".
But this doesn't bode well for any ownership -- if someone 200 years ago obtained something "illegally", then it was sold and went through umpteen hands, they can still take it away from the current owners, just on the government's say so. Not encouraging.
Especially coin collectors..
Roosevelt's bullion act made the possession of gold illegal.
Following the reasoning of the feds, any coins that weren't turned in per that act are now "illegal" although the act itself has been rescinded and citizens are now "allowed" to own gold coins and bullion..
The point the government makes is that the coins were never issued, but stolen..
But the government admits that "some" coins were, in fact, issued.. and "reclaimed"..
I'm not that sure they can prove that this ladie's father didn't come by his coins legally, and simply failed to turn them in as required by the bullion act..
An act which is no longer in effect..
"This is really bad news for anyone living on illegally obtained Indian land. "
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Well, this gives the green light for the American Indians to sue the US government to get back their land.
Ladie's = Lady's..
Of course if you believe that the above statement is wrong then the only recourse is resistance. Or else they can take your money whenever they want.
OK the gubmint can have the coins, just give them the $10 mil as a finders fee.
some coins are never released into circulation. statute on a theft is a good question but they have no chance of getting them back if they were stolen from the Mint. I think anyway
they should have sent them to PCGS
if anyone is interested the US Mint has released a US Marines 230th Anniversary silver dollar. Beautiful coin. First time they ever dedicated a coin to any of the armed forces.
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