Judge Says 10 Rare Gold Coins Worth $80 Million Belong to Uncle Sam

[jeff of pa]

another judge afraid of unkle sammy



Sept. 6, 2012




A judge ruled that 10 rare gold coins worth $80 million belonged to the U.S. government, not a family that had sued the U.S. Treasury, saying it had illegally seized them.
The 1933 Saint-Gaudens double eagle coin was originally valued at $20, but one owned by King Farouk of Egypt sold for as much as $7.5 million at a Sotheby's auction in 2002, according to Courthouse News.
After President Theodore Roosevelt had the U.S. abandon the gold standard, most of the 445,500 double eagles that the Philadelphia Mint had struck were melted into gold bars.
However, a Philadelphia Mint cashier had managed to give or sell some of them to a local coin dealer, Israel Switt.
In 2003, Switt's family, his daughter, Joan Langbord, and two grandsons, drilled opened a safety deposit box that had belonged to him and found the 10 coins.



http://www.12newsnow.com/story/1947...ld-coins-worth-80-million-belong-to-uncle-sam

 

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[bluehunter1973]

And thats why loose lips sink ships

 

[Chisos]

I thought that federal judges were appointed for life? Maybe not too afraid.

 

[GoGoGopher]

I agree with the Judge...The coins ARE the rightful property of the US Mint...They were illegally sold.

HH,

 

[Jeff Harris]

Just bleeping sad. If you find treasure KEEP YOUR MOUTH SHUT! Yeah, yeah I know some will pontificate on the fact that they belonged to the U.S. Mint and maybe they were ill gotten. You know what, so what? If I were in that situation, which sadly I'll never be, those coins would be so across the pond being sold at private auction. If you find treasure KEEP YOUR MOUTH SHUT!

Jeff

p.s. If you find treasure KEEP YOUR MOUTH SHUT!

p.s.s If...ah never mind you get my point right?

 

[srcdco]

It's too bad that the government doesn't have to show proof that there was no possible way for Switt to have legally purchased the coins directly from the U.S. Mint in Philadelphia, because there certainly was. There was a very short period of time when that transaction could have happened. When the coins were melted, only a count was done, but no date verification was done. That means that the government itself should be implicated in the removal of the coins, but we all know that can't happen. The government is always right, correct?
Now to correct the original post. Theodore Roosevelt was the good cousin to the evil Franklin Delano Roosevelt that was President at the time of the gold recall, which he initiated then had to have the Treasurer of the United States put in writing for him to make it legal before the Supreme Court ruled against it as they did with so many of FDR's "proclamations".

Scott

 

[LuckyThirteen08]

I would have to tell that judge to ............nvm,not worth being ban over!

HH John

 

[Connecticut Sam]

The family deserve part of the money when the coins are sold. The story is in Coin World magazine.