Family Sues Mint Over Rare, Valuable Coins

AP/AOL ^ | 12/06/2006 | JOANN LOVIGLIO

[KingKenrod]

There are a lot of inaccuracies in this story. For better information, read this:

http://en.wikipedia.org/wiki/1933_Double_Eagle

As it turns out, there is a chance the coins were legally obtained by a mint employee in 1933 during a 3 week period when the coins where minted, but not yet distributed or ordered destroyed.

[baltoga]

I bought some real estate in North Carolina and my attorney pointed out that it is a "race state". He quickly went on to state that it's a race to the Court House to get the sale recorded.

It is now more of a formality, but the attorney did represent a client who won a signed contract to only find out the next day that the same contract was awarded to another company. The attorney's advice - race to the court house and get it recorded. The client got it recorded first and the second company was "down the river without a paddle".

[ssaftler]

I wonder why the family would even think of taking 'em to the mint in the first place ?

IIRC, the coins were sent to the Mint for verification of their authenticity prior to ownership transfer. The 1933 Double Eagle is quite a story among the Numismatic community, but it is by no means the only case of coins which were minted but never released ending up outside the walls of the mint.

For a basic background of the coin and its history, you can check the American Numismatic Association's web page here.

[Roccus]

Now that would warrant my admiration! };^)

[stockpirate]

After so long a period of time they have commited no crime nor are guilty of no crime.

So, I think the mint actually has no claim to the coins whatsoever.

And that is why they caved before and will probley do so again.

[Dog Gone]

Let me understand your reasoning.

My grandfather steals something from your grandfather. I show it to you, and you say, hey, that's stolen property which belongs to your grandfather. And your statement is a true statement.

I say, give it back or I'll sue you.

And I'm correct and should win that suit?

[stockpirate]

For some crimes there is a statute of Limitations.

Which means ater so many years, most cases 7, a person cannot be prosecuted.

The men that robbed Brinks in Boston years ago stole millions of dollars.

They buried the money and waited the 7 years, but just before the time was up one of them freaked out and turned them in and showed the police where the money was hidden.

He turned them in becasue he freaked out and thought they were not going to give him his cut.

Had he not turned them in they could have spent the money anywhere they wanted and even wrote books about the crime.

[stockpirate]

So it isn't "my reasoning" it is a matter of law.

[upchuck]

From the article:

The coins at the center of the lawsuit were briefly displayed this summer for an American Numismatic Association's convention in Denver. They have been secured at the U.S. Bullion Depository in Fort Knox, Ky.

"Paging Mr. Goldfinger, paging Mr. Auric Goldfinger, please pick up the nearest white courtesy telephone for an urgent message."

:)

[Dog Gone]

The problem with your reasoning is that they haven't been charged with a crime.

Another problem is that they're suing the rightful owner of the property.

Your reasoning sounds like finders keepers, but even that doesn't work since the mint could now sing the same song.

[tenthirteen]

Something seems amiss here. The coin posted in the article shows a flying gold eagle with the motto "In God We Trust" below it. I was told that that motto was placed on currency and coinage after 1954. Since this is a 1933 coin, what gives?

[Dog Gone]

In God We Trust was first placed on a US coin in 1864.

[JerseyJohn61]

Actually the first U.S. coin to bare the motto
"In God We Trust" was the 1864 2 cent piece. It was a
bronze-copper coin that appeared during the civil War
to help out with the small change shortage.

The hardships of the war had inspired a surge of
spirituality within the nation and the new motto
reflected this....JJ61

[gcruse]

"I was told that that motto was placed on currency and coinage after 1954."

You're confusing coins with the insertion of 'under God' in the pledge of allegiance.

[FreedomCalls]

I'm sure the govt would love to take those off someone's hands, but its still theft on the GOVT's part.

Recovering stolen property that was originally stolen from you is now consiered "theft"? Huh?

[FreedomCalls]

As it turns out, there is a chance the coins were legally obtained by a mint employee in 1933 during a 3 week period when the coins where minted, but not yet distributed or ordered destroyed.

If they weren't "distributed" yet then they were stolen.

[FreedomCalls]

After so long a period of time they have commited no crime nor are guilty of no crime.

The statute of limitations is just a limitation on prosecuting them and sending them to prison for theft. There is no time limitation on recovering stolen property. Museums have been forced to return property that was stolen even after being in the museum's possession for over 200 years.

[amchugh]

IANAL, but... Additionally, the statute of limitations may not apply in cases where the government is suing in civil court in its capacity to "protect public interest" unless the statute of limitations is specifically applied that way in the defining law. This apparently dates back to England and the "rights of the Sovereign".

[muawiyah]

And someday the Cajuns will recover Acadia.

[JerseyJohn61]

There is a history of coins that were "not meant to
be release in circulation" that are now legal to own.
These coins also somehow found their ways out of the
mint and often under mysterious circumstances.

The 1856 Flying Eagle Cent. About 1500 are know to
exist and they where struck as prototypes for the
new coin that was released in 1857. Private owner-
ship at that time would have been illegal. It's
legal to own now a quite a valuable coin.

Same with the 1913 Liberty Head "nickle". Five are
know to exist and one of the most valuable pieces
on Earth. They were struck a a "dry run" production
test. But the Mint began the Buffalo 5 cent "nickle"
that year and the Liberty Heads was not released.

One thing to watch for in the future. In 1975, the
Philadelphia Mint struck hundreds of experimental
Lincoln Head cents that were made of Aluminum.
The soaring price of copper had the mint looking
for alternatives. The coins were distributed on
consignment to many of the prominent figures in
Washington D.C. . They were on loan for evaluation
and were to been returned promptly to the mint
after a set time period. Well many of these coins
were never returned and there has been little
"political" will to pursue the matter...JJ61