NGC certifies the 10 Langbord 1933 Saints

I think this could mean that a settlement regarding their ownership and disposition is in the works. Either way, this is good stuff!

http://www.ngccoin.com/news/viewarticle.aspx?IDArticle=1389

 

Log in or Sign up to hide this ad.

Definitely a sign something is in the works....It's funny that the cert numbers are so high as far as the line item number are concerned... They also don't show up as searchable certs. Any thoughts Mark?

 

That's very exciting news. Regardless of the final settlement, I'd hate to see anything happen that would result in these beautiful coins being destroyed.

 

I think that the high line number on the certs means one of two things: 1) a number of coins from the Smithsonian were submitted for grading along with the 10 1933 Saints, or 2) in this particular case, NGC didn't use consecutive ID numbers. I guess another possibility is that a LOT more than 10 1933 Saints were submitted



I'm guessing that the certs won't show up as valid ID numbers in the database until the ongoing legal dispute is resolved.

 

Mark:
This may be a strange question, but why would the "secret service" want them slabbed?

Strange.

 

hmmm.

so, if the government loses the case will they demand the cost of slabbing from the Langborns prior to returning the coins?

obviously + $20 face for each.

Idiots.

 

It's good to see they were able to be documented and studied. I hope they come up with a positive settelment soon.

 

My guess is that the government wanted the coins certified as a prelude to a possible settlement. Regardless, I wouldn't assume that NGC charged anything for the service. I have no doubt that they would be thrilled to do it for free.

 

:eating:

 

Yeah, I would think that having some of the rarest and most controversial coins in the world in your holders is pretty good advertising .

 

Since they have surfaced, I've wondered what the owner of the sole piece in private hands thinks.
He paid $7.5 million thinking there wouldn't be ANY more available.
Oops.
Now it's just one of eleven (for the moment).
I can see him wishing for the Gov't to win.

 

ah, the lawsuit if the gov't loses!

"okay, I'll take a credit on my AMEX."

 

Right-o !

It's a major PR coup to be chosen to certify super mega-bombs like these. They're in the Top 5 most notorious, famous, high-profile coins anywhere - maybe #1.

I wouldn't be entirely surprised if NGC and PCGS had a bidding war for the privilege to slab 'em - that they actually paid for the privilege.

 

Wow!
Always been kinda confused on this whole situation...
So if they coins are returned... What happens to the guy who bought his at 7.59 Million? Does the government refund some of his money back? Wasn't he assured that this would be the only one available?

 

I don't know all of the details, but I think the government did make that representation that his would be the only legal 1933 $20. If the government loses this case and then all of the sudden there are at least 11 legal 1933 $20 pieces out there, the first guy who paid $7+ million will most likely sue the government and I bet the goverment will immediately attempt to settle. Just my guesses.

 

I would think not. He didn't buy it from the government. He bought it at auction, and the consignor was the owner, not los federales. At least that's my understanding.

I thought it was a Heritage auction, but I didn't see it in their archives.

No.

When he bought the coin, everyone knew there were others. Further, everyone knew there was a possibility a settlement would be reached and the others would become available.

And it remains only that - a possibility.

 

Sotheby's and Stacks (not Heritage) jointly sold the other example. And my understanding is that the government was a half owner, as per the pre-sale settlement.

Also, while it was known at that time that others almost certainly existed, the government did use language - I can't find the precise langauage - which would lead a reasonable person to conclude that it would not allow others to be owned legally. I would bet that if the case is settled, the owner of the Fenton piece will be compensated as part of that settlement.

 

Obviously, the numbers are so far apart because the Secret Service sent in a bunch of 1964 Peace dollars with them.