Posted on 07/21/2011 1:36:11 PM PDT by DeoVindiceSicSemperTyrannis
It's a case that combines history and mystery--and very valuable gold coins. The stakes were certainly high: One of these rare $20 pieces sold for a record $7.59 million in 2002.
Here's the story. A jury decided that a Philadelphia woman, Joan Langbord, who found the coins in her father's bank deposit box, never should have owned them, and that the U.S. government was right to take them back.
The government argued that the never-circulated gold coins should never have been anywhere outside the U.S. Mint. Only a half-million of the coins were made. The rare "double eagle" coins, designed by sculptor August Saint-Gaudens, are fervently sought by collectors—and worth a mint. When the United States abolished the gold standard in 1933, most of the pieces were melted down.
Two were sent to the Smithsonian, and 20 disappeared—the very 20 that can be traced to Langbord's father, a Philadelphia jeweler named Israel Switt. In challenging Langbord's ownership rights, the government argued that the dollar coins were most likely stolen. Langbord, who is 81, argued that her father did business with the Mint, and the coins could have been acquired legally...
(Excerpt) Read more at news.yahoo.com ...
But the Mint is like every other government entity. It screws up occasionally.
Too much time has passed. The coins belong to the family.
Most likely means nothing....It's like kinda, sorta, mighta, woulda, coulda....
If she had sold them, the government still would have taken 38-50%, so this actually shows that they aren’t content with less than 100%. The thief here is the our government. This is what comes of some people thinking that it is OK to steal from a man, as long as they hold a proper vote on the issue.
My dad knows one of the sons of the lady mentioned in the article. Dad says the guy is really pissed about his family losing those valuable coins. I agree that the family should have been allowed to keep the coins.
So it seems there are some of thee out there...
It was the depression....wouldn't surprise me one bit if the government gave a few folks the coins in payment for ?????
I’m waiting for the guv to put 50 pieces up for sale!
One of the two coins mentioned wa presented to the then Secretary Treasurer and sold as part of his estate.Ah hah....so they did "give away"....
Check wiki...double eagle, gauden
Why were these $20 gold coins named double eagle? Was there a a $10 dollar gold coin at the time?
The lack of research and understanding reflected in this title is staggering! You read the title and you think of a national symbol of a "double-headed" eagle like Russia or Austria, neither of which has anything to do with this story's content.
This "Double Eagle" is the colloquial name given for years to the $20 gold piece issued by the US Mint as an "Eagle" meant $10 and a half-Eagle meant $5. There is a program run frequently on Smithsonian, Discover and other cable channels that gives the history of this ruckus. A funny fact from that program related how the $7.59 million in 2002 was based upon the mistaken impression that there was only a single example left unmelted. When these other coins were discovered you can imagine how much that bidders coin lost in value.
I still find it amazing that FDR was able to declare the private ownership of gold illegal so easily and then have that order last so long!
There was a trial. On July 20 2011, a jury unanimously decided in favor of the United States government concerning ownership of the ten additional double eagles, after 10 days of trial. It was concluded that Israel Switt illegally obtained the coins from the United States government and thus were still government property. At this point (July 2011) it is unknown if the Langbord family will seek further legal action.
A different jury concluded Casey Anthony was innocent.
When a JURY of Americans decides an ownership issue between government and individual who possesses something BASED ON A THEORY, it’s just another proof that our nation is OVER!
Clearly the jurists, being educated by our socialist brainwashing centers called public schools, have no idea of why this nation was founded, or about the rights of personal property vs. government ownership.
SICKENING!
I know. I would have preferred to rewrite the title, but that is not allowed.
Thanks for your explanation of how and why the coin was named Double Eagle”. Answers my question in post #9 above.
Just wait till the gubmint seyz that they truly owns that gold coins/bars you’ve been hoarding.
It is only your patriotic duty to fork over.
When they found the coins they should have kept their mouths shut. They could have black marketed them easily.
Never, ever trust the government.
“Why were these $20 gold coins named double eagle? Was there a a $10 dollar gold coin at the time?”
Yes. The $10 Gold Piece was an Eagle. $20 was the Double Eagle. Theoretical $50/$100 gold coins would have been Half Unions and Unions but never got beyond the pattern stage.
In all honesty, the coins in question here were illegally obtained even though face value was given for them at the time.
That would be just like our government to do that again. The rotten thieves.
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