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Court Reclaims 10 1933 St Gaudens Double Eagles

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Pillar of the Community
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1450 Posts
 Posted 08/06/2016  09:38 am  Show Profile   Bookmark this reply Add terry8835 to your friends list
When the Swift family notified the government about the existence of the coins they made their first big mistake. I wonder if they talked to a good lawyer first? Maybe they should have put them in a Swiss bank vault first and then done their research? I feel for the family because they did have the coins for 80 years and what will the government do with them? The family was honest and look what they got. That is like being pulled over for a traffic violation by the police and informing them you have a concealed weapon and a permit and you get shot for your troubles. If the Swift family had never informed the government of the existence of the coins the value would be irrelevant since they would officially not exist. But could they have been sold overseas or anywhere outside the US? I think the coins should be sold at auction and the family get some portion of the proceeds IMO. This is splitting the baby, but that is more just than the USA just keeping the coins they never knew about in the first place.
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 Posted 08/06/2016  10:10 am  Show Profile   Check 52Raymo's eBay Listings Bookmark this reply Add 52Raymo to your friends list

Quote:
I don't get the hate for the government on this one. Everything I've read says the coins were stolen with the help of at least one mint employee. The government may do a lot of stupid things, but how is trying to recover stolen property one of them?


Oregon coin geek.....*** GO BEAVS ! ! ! ***
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 Posted 08/20/2016  6:52 pm  Show Profile   Bookmark this reply Add jfransch to your friends list
If I may voice my opinion, the Switt family and by extension the Langford family were never honest about the coins. Israel Switt repeatedly denied to federal investigators that he had, or had had, or knew of any 1933 double eagles but in the ongoing investigations in the 1940's and 50's, all the known coins were linked back to him as the original source. The heirs claim they found these coins in a safe deposit box but the box had been opened by the Langford's years after Israel died. No reasonable person can believe they had a pouch with 10 $20 gold pieces in it and didn't know they had put it in the box. I believe, my opinion, that they felt they could strike a deal with the feds and get at least some of the coins legalized as a result of the favorable King Farouk specimen ruling. At $7mil apiece they took their chances.
For anyone interested in further research, may I suggest the book "Illegal Tender" by David Tripp. Well researched, well documented and really interesting.
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 Posted 08/20/2016  8:00 pm  Show Profile   Bookmark this reply Add terry8835 to your friends list
I was watching Pawn Stars reruns and Rick bought 1922 high relief coin in MS61. He paid $80,000 for the coin. The guy who sold it said he won it in a poker game he looked like an idiot and said he was going to get in another poker game. I think this was just part of the show. The guy first just wanted 20K, but warm hearted Rick told him on camera the coin was worth much more. I have met only one pawn broker who did not try to cheat me and this was because we were of same Tribe.
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215 Posts
 Posted 08/21/2016  11:04 am  Show Profile   Bookmark this reply Add steviegetz to your friends list
maybe someone in the government is a coin collector and really wanted one of these badly for himself. Imo these coins only exist because of the safe keeping of the owner for so many years and if they have to forget them because of the court ruling.( which seems highly unfair. ) they should be ordered by the courts to be melted as by law they were originally suppose to be , before being returned as a lump of gold to the government.
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 Posted 08/21/2016  1:34 pm  Show Profile   Bookmark this reply Add terry8835 to your friends list
Stevie

I agree 100%. If those coins end up in the hands of some billionaire politico somebody's butt should fry.
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 Posted 08/21/2016  3:07 pm  Show Profile   Check 52Raymo's eBay Listings Bookmark this reply Add 52Raymo to your friends list
Put em in the Smitty along with a story of the robbery and eventual recovery.
Oregon coin geek.....*** GO BEAVS ! ! ! ***
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 Posted 08/21/2016  4:23 pm  Show Profile   Bookmark this reply Add MeadowviewCollector to your friends list
The Smithsonian already has two examples of the 1933.

A better idea would be to put one on display in each of the 12 Federal Reserve bank museums. The 10 recovered coins, 1 from the Smithsonian and I think someone said that the only legal to own '33 is on loan to the FRB of New York.

At least this way they would be spread out and more people would be able to see one without having to trek to DC to visit the Smithsonian.

-MV
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 Posted 08/21/2016  5:37 pm  Show Profile   Check 52Raymo's eBay Listings Bookmark this reply Add 52Raymo to your friends list
That would work !
Oregon coin geek.....*** GO BEAVS ! ! ! ***
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 Posted 08/22/2016  10:56 am  Show Profile   Bookmark this reply Add terry8835 to your friends list
The thing is that they do not end up in private hands as favor to some politicians buddy. Whatever the government gloms onto usually gets stolen or gifted to political cronies. Think of your tax dollars and how they go right down the rat hole. These coins could go the same way.
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 Posted 08/22/2016  10:57 am  Show Profile   Bookmark this reply Add terry8835 to your friends list
You remember the story of a T-Rex named SUE. The guys that discovered the fossil ended up in prison and government got the bones.
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 Posted 08/22/2016  12:23 pm  Show Profile   Bookmark this reply Add Saruma to your friends list
That's a mischaracterization of what happened with Sue. The government took possession until the dispute between the researchers and the owner of the property was resolved. It then went to the property owner, who later sold it. Larson's conviction was for fossil theft, customs fraud, and money laundering not related to Sue.
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 Posted 08/22/2016  6:00 pm  Show Profile   Bookmark this reply Add terry8835 to your friends list
That is the government case indeed. PBS must have been lying. What fossil did this guy Larson steal? PBS had a show about this case on "NOVA" I think. Who resolved this case. I understood from the show that a Native American gave Larson permission to dig fossils on what he said was his property. The feds said is was government property. You are saying all the fuss about SUE was just a civil matter? I don't believe that. Isn't Sue at Smithsonian today, so government got the bones and the guy who found SUE got prison. Which facts are not correct?
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1533 Posts
 Posted 08/22/2016  6:46 pm  Show Profile   Bookmark this reply Add Andrew99 to your friends list
"There was a civil matter that dealt with the ownership of Sue ... (and) there was a separate, criminal investigation that had very little to do with Sue"

http://www.cnn.com/2014/12/11/us/di...rus-rex-sue/
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 Posted 08/22/2016  9:10 pm  Show Profile   Bookmark this reply Add Saruma to your friends list
For one, it is at the Field Museum in Chicago which is either a private nonprofit or is owned by the city of Chicago (I'm having a hard time figuring this out). Even if owned by the city, that is very different than being owned by the US government. Regardless, the vast majority of its funding comes from non-governmental sources. They paid over $8 million at auction for it. Any private buyer could have done the same thing.

The government got involved because the land was held in trust by the US government. A lengthy court battle determined it belonged to the Native American man that claimed ownership. I find it HIGHLY unlikely that anyone would sell an $8 million dollar fossil for $5000. Maybe Larson should have written up a clear bill of sale if he really thought he was paying $5000 for the skeleton. Given that a court didn't believe him and that he was convicted of other fraudulent fossil dealings I find his story highly suspect.

You are asking me to tell you what facts are not correct but you haven't bothered to look this up yourself. You are going by what you remember of some documentary, parts of which you have clearly remembered incorrectly. I'm not trying to be mean, just asking that if you are challenging my assertions please take the time to verify what you can on your own.
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