Langbord's Win!!!

http://www.reuters.com/article/2015/04/17/goldcoins-ruling-idUSL2N0XE19F20150417

It's about time!

Chris

 

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Wonderful news!


I was a proponent of the family from the beginning

How can the gov't 'assume' that the coins were stolen.

 

Because they base their belief on the premise that no one in the government is stupid or inept. Whenever they have a problem with someone, they promote them.

Chris

 

I'd be betting on a SCOTUS appeal by the Treasury Department.

 

Good news. I hope more 1933 Double Eagles surface.

 

I'm hoping that any appeal is rejected.

Chris

 

Corrected
I seriously doubt it. They missed the deadline for filing the proper claim when they initially received the coins back in 2005.

They had ample time in order to make the filing yet chose to miss the deadline.

I'm thinking that they intentionally missed the deadline so that Justice Department Resources could be channeled in a more appropriate direction.

Besides, why would the Supreme Court even bother with a case in which the government dropped the "legal procedures" ball?

 

Assuming that the family ends up getting all ten (10) coins, what do you think would be the best way for them to maximize their money? Put them up for auction one at a time? Send them on a "tour" and charge coin shows money to show them? Surely not selling them all in one lot...

 

http://news.yahoo.com/u-must-return-rare-double-eagle-gold-coins-185510525--finance.html

http://www.reuters.com/article/2015/04/17/goldcoins-ruling-idUSL2N0XE19F20150417

 

They only missed the deadline by 9-1/2 years!!!!!!!

"But when the Langbords filed a "seized asset claim" in September 2005, the government neither returned the coins nor sought their forfeiture within 90 days, as required under the federal Civil Asset Forfeiture Reform Act."

Chris

 

In one of the linked news stories above:

"The government knew that it was obligated to bring a judicial civil forfeiture proceeding or to return the property, but refused," Circuit Judge Marjorie Rendell wrote. "Having failed to do so, it must return the Double Eagles to the Langbords."

The government dropped the ball and the only reason I can think of as to why they dropped the ball was that they simply gave up knowing full well that continually chasing these coins would have been much more costly and time consuming than the general public felt was warranted.

There was absolutely no way that they could prove that the coins had not been lawfully obtained by Izzy Switt when it was common knowledge, at the time, that coin dealers did go to the US Mint Cashier and exchange older coins for newer coins.

 

So, they botched this from the very beginning.

 

So when can the Langbord's go pick up their coins?

 

I would have bet on such an appeal as well, had the decision not been on procedural grounds rather than matters of fact.

I think, if the government wants to continue this, they might try an entirely new angle based on a completely different legal theory. Since they're not charging the Langbords with a crime, double jeopardy is not invoked.

 

Unfortunately, this cannot be over. The adversary and claimant has what is known as "unlimited resources."

 

so what are those coins gonna be worth ? millions ? will more 1933's surface now ?

 

Personally, I think that if more surface that the Government will confiscate those that surface and then file the necessary CAFRA within the specified time frame thereby keeping control of the coins.

 

Precedent will prevent that.

 

I don't think there's any precedent to be had. I haven't read the ruling, but the article implies the government lost because of a procedural error. If, somehow, more 1933 double eagles were to surface, and proper procedures were followed, then this ruling doesn't apply.