Heirs Lose Fight With Govt to Keep Rare Gold Coins

[goverton]

Heirs Lose Fight With Gov't to Keep Rare Gold Coins

"A jury has decided that a set of rare gold coins found in a bank deposit box rightfully belongs to the U.S. government.

The decision, made on Wednesday, caps an unusual civil case that combined history, coin collecting and whether the set of rare $20 "double eagles" should have ever let the U.S. Mint in 1933.

Federal prosecutors had asserted that the coins never circulated when the country went off the gold standard. Most of the batch was instead melted down.

But Joan Langbord, the daughter of a Philadelphia jeweler, said she found the 10 coins in her father's bank deposit bank after he died.

She said that her father could have acquired them legally, perhaps through a trade of gold scrap.

One 1933 double eagle sold for $7.6 million in 2002."

**** Maybe the Govt. can now sell them to pay off the debt*** Hmmm I bet they end up in someone(GOvt. ) pocket.
Change and Hope!

 

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[Dano Sverige]

Re: Heirs Lose Fight With Gov't to Keep Rare Gold Coins

A surprise result there......NOT!!!

If she has any brains at all then she didn't hand them ALL over! $7.6m a pop, and she thought she'd win against the government? Come on.

 

[hombre_de_plata_flaco]

Re: Heirs Lose Fight With Gov't to Keep Rare Gold Coins

King Farouk of Egypt was allowed to own a 1933 Double Eagle for many years. The one that sold was allegedly from his collection.

I guess only Egyptian Kings and the US Government can "legally" hold these coins.

 

[mfitzy111]

Re: Heirs Lose Fight With Gov't to Keep Rare Gold Coins

hope she appeals this ruling and asks for a jury trial...but fighting the feds and winning with that money at stake will never happen...very dim witted of her to bring them to the feds and try to get a dollar amount on what they are worth... duh...she'd have been better off going to the NY auction houses...at least they wouldn't have stolen the coins from her...

 

[goverton]

Re: Heirs Lose Fight With Gov't to Keep Rare Gold Coins

hope she appeals this ruling and asks for a jury trial...but fighting the feds and winning with that money at stake will never happen...very dim witted of her to bring them to the feds and try to get a dollar amount on what they are worth... duh...she'd have been better off going to the NY auction houses...at least they wouldn't have stolen the coins from her...

"A jury has decided that a set of rare gold coins found in a bank deposit box rightfully belongs to the U.S. government.

I guess you missed that in the story.

THIS is why you Never get on TV or internet and say you found the "big one".

 

[Killer Angel]

Re: Heirs Lose Fight With Gov't to Keep Rare Gold Coins

It's apparent to anyone who knows this story, and readily apparent to the jury that the coins were stolen from the U.S.Mint. Dad worked with a dishonest mint worker to acquire the coins back in the 1930s. They were acquired after the mint had decided to melt them down. The 445,500 coins were slated for melt down and none of these coins would have been part of any legitimate trade for scrap. The jury decided that coins not melted down were stolen. As stolen property, there is no market for these coins. Coins with proven purchase dates before the 1933 decision to melt are those that legally exist in the market today.

Personally, I like to see David slay Goliath with the little guy prevailing, but in this case, the government got it right. The thief and his family don't profit from the crime.

 

[mope540]

Re: Heirs Lose Fight With Gov't to Keep Rare Gold Coins

THIS is why you Never get on TV or internet and say you found the "big one".

amen....sorry it has to be that way, but if i ever get lucky enough to find a cache of gold, it won't be talked about or shown to anyone other than the dealers considering buying it.
the feds/state won't be screwing me out of anything

 

[uthunter]

Re: Heirs Lose Fight With Gov't to Keep Rare Gold Coins

Last place you would want to take it to is a dealer, unless it is a gold scrap dealer and it has no identifying marks on it.

Melt it down into unidentifiable blobs or get a gold mold from a mining supply house. Put some scrap copper in just for good cause.

Find a scrap gold buyer or a refiner out of the country and work it so they have to arrange to ship it out of the U.S., the less the U.S. govt knows the better.

Just my opinion.

 

[goverton]

Re: Heirs Lose Fight With Gov't to Keep Rare Gold Coins

Last place you would want to take it to is a dealer, unless it is a gold scrap dealer and it has no identifying marks on it.

Melt it down into unidentifiable blobs or get a gold mold from a mining supply house. Put some scrap copper in just for good cause.

Find a scrap gold buyer or a refiner out of the country and work it so they have to arrange to ship it out of the U.S., the less the U.S. govt knows the better.

Just my opinion.

I guess something is better than nothing........I still would give it a try.....auction house....maybe in europe.....each coin is worth a fortune