'33 Double Eagle

The Langbord-Swift case again.

 

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There are like 14 1804 $1, and those go for $4,000,000. Depending on the result of the case, there are 11 of these.

 

very interesting!!!! I would still stick to the fact that each will go for 6mil+ if (**if**) on the market .. theres been soo much publicity that which oober-rich collector wouldnt want one??

 

This issue is not of any statute of limitations, but one of stolen government property. The coins were never officially released for circulation and any that left the mint did so clandestinely. No one in this hobby or that would have an interest in Double Eagles could have any doubt that they were illegal to possess. There have been claims of 1933 Double Eagles existing for years, and yes the Secret Service will seize any. This is not unlike the claims of 1964 Peace Dollars which purportedly exist. If they exist they were illegally obtained and illegally removed from the mint. That being said, I agree that the real money here will be made by legal fees charged by lawyers and extremely unlikely the family will get anything.

 

The problem is that specimens WERE sent to the Mint Cashier's window and COULD have been legally exchanged for other gold coins. The question is can the government prove that none of them were exchanged, and can they account for all of them BY DATE when the Cashiers window gold coins were turned back in for melting? I would probably find their "accounting" rather suspect since before these ten coins turned up they have officially accounted for every one of them three times already. In short there was a legal way for the coins to have left the mint. I think the case may hinge on exactly how the cashiers window accounts were kept and how detailed they are.

 

Conder- I agree that there is the issue of the possibility of an exchange at the cashier's window and that the Coinage Act of 1873 may have allowed for release of coins without them being issued for circulation. It indeed will be left to the Treasury Dept to establish that the coins left unlawfully. This in fact was part of the argument in the legal case surrounding the Fenton coin proceedings that settled in 2001. Since that case settled without any interpretation of the statutory and factual issues it will be enlightening if this case actually goes to trial. The attorney who represented Fenton represents the Langbord family in this action, and I'm betting any trial outcome could set the tone for the coin collecting hobby. Thank you for your comments, I reviewed my post and it sounded a bit harsher than I intended. If the case goes well for the family there may be even more 1933's appear.

 

I predict attorneys will receive more than the coins are worth, regardless of the outcome.

 

Government Attorneys are on salary, and I would imagine the Langbords attorney is on contingency.

 

heehee if you want to be a winner no matter what ..be a lawyer that would be a cool gift.."you won me my case, now heres 1 of 11 of a gold coin which sold for over 7mil" O_0

 

Bingo! What is the Treasury's claim? Because we say so? Because we thought we got them all?

 

Nobody gets any and they either get dropped in the ocean or a volcano

 

Mount Doom?

 

NOOOOOOOOO!!! My preciousssss!!!!

 

The family should keep none! if the government can prove they were stolen! if not they should
Be able to keep all of them, one way or another!

 

Ahahahaha....that would be anticlimactic to say the least ...as for the all or nothing in theory its reasonable however in a court of law and in the realm of lawyers (not to mention the US gov) deals may be made and the coins have a good chance of being split (not saying its right though.,,)

 

Family should really get to keep 'em all.

Probably won't go down like that, though.

I'd suggest they sell for far less than $7.6 million each for a number of reasons. That coin was the only legally known one at the time and it also has the pedigree of belonging to Farouk.

 

Hey Merc,

You find enough WAMs yet to buy one?

 

Chinese? Yeah.

American? Nope.

 

Talk about a major hit to the only 1!!

 

Yup. Mount Doom