1933 double eagles: Gov't wins, Langbords lose

But he doesn't OWN one. He did own one and he sold it in 2002 for about $7 million and split that with the government. If it goes down now it will be the buyer that loses, not Fenton.

 

Log in or Sign up to hide this ad.

Fenton SOLD the coin in 2002. He doesn't own any 1933's any more. How can he lose money on something he doesn't own to begin with? (If he does own one, he's keeping his mouth shut.)

http://articles.cnn.com/2002-07-30/us/double.eagle_1_coin-mint-pure-gold?_s=PM:US

http://www.goldrushgallery.com/news/faroukcoin.html

The anonymous buyer is the ONLY person who will, potentially, lose money. And the anonymous buyer asked, when he found out about these 10, "So does that mean I have to buy these, too?" I forget where I read that. Think it was Coin World when the coins surfaced.

Mr. Fenton won't lose a dime. He made his $3.5 million in 2002.


About the family sending them ALL or some in. Yes, people are that stupid to send them all in. I agree to disagree on this point.

 

I stand corrected. I meant the current owner, not Fenton. I had forgotten that he sold it when it was monetized.

Substitute current owner for Fenton in my comments. I apologize for the error.

 

I sure the Government made a few bucks when they toured all 10,to all the mayor coin show in 2006 or 2007.
I think the family should have gotten them back.but if I had been on the jury we still be sitting there.
But you have a very good point about wasting $$$$$$ We always pay the bill anyway.

I could ready care less about the buyer of the one only legal one.King & the Rich get there way to much:dead-horse:


I would have like to see how many more would have shown up. if the government had not won.

 

IMHO all of them would have surfaced. After doing a little research, I found that Israel Switt (relative of the Langbord family) purported the existence of 17 coins (besides the 2 in the National Numismatic Collection meaning that there are still another 6 out there under wraps. I believe that the Langbord family owns these coins as well, although that is PURE speculation on my part.

 

Mike, I have simply heard the rumors over the years that some of these are in private collections, either overseas or not idk. I am not sure the Langbord's own any more, since if they did after losing this case that could be viewed as obstruction of justice, since any first year attorney would know enough to ask if they owned any more in deposition.

I would hope these 10 either go to the Smithsonian, the US mint collection, or, (I know wishful thinking) donated to ANS and the ANA for their permanent collections.

 

It appears some of these coins have been trading privately for many years:

1933 double eagle trial: Roger Burdette takes the stand
http://www.coinworld.com/articles/1933-double-eagle-trial-roger-burdette-takes-/

court testimony:

" . . . In response to his grandfather’s request, Langbord went to Stack’s in New York, looked at coin books in the reception area and saw that the 1933 double eagle was not listed. The Stack’s representative — Langbord could not recall his name — said 1933 double eagles were not “publicly traded” but rather, traded privately, suggesting a value level of $250,000, but not elaborating further. . . "


**desertgem - I hope they release the previous probate papers from his death, which the family tried to get suppressed and the judge allowed. IMO**

I agree. Especially since the family wanted them suppressed. In my home county I've been able to get probate documents from the court house as they are public records.
Maybe some of them are sealed?

 

Hello to all :smile

In Italy I made the chronicle of the trial for forum www.lamoneta.it

http://www.lamoneta.it/topic/73794-unaquila-da-7-milioni-di-dollari/page__view__findpost__p__850441

My last information was that in November 2011 Judge Davis confirmed the verdict, but in February 2012 he had not yet submitted the written judgment, and Langbord cannot yet appeal, if they want.

You have any news?

petronius