Family wins back seized $20 Double Eagles from U.S. Department of the Treasury

[jeff of pa]

Shocking news They won !!!!!!!!!



PHILADELPHIA (AP) — A family was awarded the rights to 10 rare gold coins possibly worth $80 million or more on Friday after a U.S. appeals court overturned a jury verdict.
U.S. Department of the Treasury officials insist the $20 Double Eagles were stolen from the U.S. Mint in Philadelphia before the 1933 series was melted down when the country went off the gold standard. They argued that Joan Langbord and her sons cannot lawfully own the coins, which she said she found in a family bank deposit box in 2003.

Republican Herald | News | republicanherald.com

 

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[BVI Hunter]

Cool!

But how did they " find them" in a deposit box?

 

[JrMack]

After the verdict, I didn't think you would get any court to give them back! Good for them!

 

[jeff of pa]

the way I look at , if King Farouk of Egypt was allowed to own one.

how can they be declared illegal to own ?

& Since they couldn't 100% prove they were stolen. I'm glad a Judge saw fit to step in

personally I'd insist only 1 is for sale.

Live off the proceeds for as long as possible,
& if I run low, insist I will sell "just one more"
keep value up.
If they sell all at once, They are not as rare.

other option after getting a $10 Million dollar or more bid on the one.
tell the other bidders that the price on each of the rest

 

[RushinPA]

Glad to hear this, and hope that this is the end of story in the courts.

 

[nsdq]

Good news

 

[dejapooh]

the way I look at , if King Farouk of Egypt was allowed to own one.

how can they be declared illegal to own ?

& Since they couldn't 100% prove they were stolen. I'm glad a Judge saw fit to step in

The King Farouk Specimen was different. During WWII the king bought the coin from the father of the people who have the coins now (at least that is what is believed). The King then applied for an export license from the Government. Rather than start a pissing match with a leader of an allied nation during the war, the government gave permission. When the coin reappeared in the 1990's, the owner's lawyer was able to successfully argue that because the license was given freely, and this was that same coin, it stands to reason that the coin was legal to own still. The courts agreed. During appeal, the current owner and the government came to an agreement. The coin would be sold, the proceeds split 50/50 with an extra $20 to go to the government (to account for the "Missing $20" from the "stolen" coin).

The family that had the coins argued that there was a three week period in 1933, after the coins were minted, and before the gold window was closed, that the coins COULD have been legally purchased. That the fact that the coins were marked as having NOT been released was in fact a book keeping error. Since all people directly involved are now dead, there is no way to know if the coins were stolen or legally bought. That is enough evidence to deny the preponderance of evidence necessary for the government to win a civil case. Since there is no Criminal Case (everyone being dead), the case should rightfully be dismissed.

I've had my eye on this case for years. Personally interesting... Almost as interesting as the 1974 Aluminum cent coins. I believe there are 2 of those now known.

 

[dejapooh]

Since they couldn't 100% prove they were stolen. I'm glad a Judge saw fit to step in

The government does not have to PROVE the coins were stolen in a civil action. Just that more evidence indicates that they were stolen than not. Preponderance of the evidence. That's why O.J. was Not Guilty (which does not mean Innocent), but Liable civilly for the murders. Different courts, different standards.

 

[dejapooh]

OOOOOOOOOOO

"However, the appeals court returned the coins to the Langbords because U.S. officials had not responded within a 90-day limit to the family's seized-property claim, filed in about 2004."


Bad Lawyering...

 

[Cassews]

No matter how it happened- they won !

 

[jeff of pa]

now if they don't return them. then turn around and immediately
file the proper papers.
I'm not sure if they can do that or appeal.

They probably could have saved themselves allot of trouble by telling the family they could keep one,
if they turn over the rest.

That would have worked with me.

Because one more on the market is worth more then

one more on the market & knowing there may be 9 more shortly

 

[releventchair]

Being a jeweler may have solidified the Senior's lawful holding of them in the box too. Other exemptions were allowed in varying laws.
The federal reserve was required to surrender ALL gold to the treasury then later that was relaxed .
A lot of fuss trying to change to fiat currency over money by force of a law that started during the war and was carried over and added too after...
Something destined to be repeated down the road during/after another war?

The 1933's double eagles were ordered destroyed at the mint but were they recalled despite not having been released?
Some exceptions to some laws /orders for citizens were....and (b) should apply to unreleased coins. (a) fits the ten twenty dollar pieces as well.
a) Gold coin, gold bullion, and gold certificates in an amount not exceeding in the aggregate $100 belonging to any one person;
(b) Gold coin having a recognized special value to collectors of rare and unusual coin;
(c) Gold coin, gold bullion, and gold certificates acquired or held under a license heretofore granted by or under authority of the Secretary of the Treasury; and
(d) Gold coin, gold bullion, and gold certificates owned by Federal Reserve Banks.

I may have missed a law requiring all to be surrendered but imagine confusion existed over it back then too.
Wonder how many citizens were inspired to bury some coins....