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Court Reclaims 10 1933 St Gaudens Double Eagles

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Conder101's Avatar
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 Posted 08/05/2016  12:00 pm  Show Profile   Bookmark this reply Add Conder101 to your friends list Get a Link to this Reply
Because they confiscated them on the claim that they were stolen and never provided any proof of theft even though there were ways they may have been able to have been acquired legally. For close to 80 years their only evidence that they were stolen was "Because we say they were."
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Saruma's Avatar
United States
968 Posts
 Posted 08/05/2016  12:37 pm  Show Profile   Bookmark this reply Add Saruma to your friends list Get a Link to this Reply
But weren't the coins struck after it was made explicitly illegal for the public to own them? Isn't this exactly why you can own a 1933 Eagle, because it was minted before the order? What legal scenario is there is there around having in your possession coins that were minted after the point where someone could legally own them? To me, this is a case where you would need proof that the government said it was ok to own them. Every single day people are arrested for possessing stolen merchandise. In many cases there is no physical proof the items were stolen, aside from the owner saying they were robbed. The robber usually says "he gave it to me". Even if ultimately there isn't enough evidence to press charges, the person gets their stolen item back.
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Andrew99's Avatar
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 Posted 08/05/2016  12:42 pm  Show Profile   Bookmark this reply Add Andrew99 to your friends list Get a Link to this Reply
As the coins were not authorized, there is no legal way they could have come into anyone's possesion. However, the same can be said for numerous patterns that issued in the late 1800's. There was a time the mint was doing favors for collectors by minting rarities on demand. The restrike 1804 dollars are all illegal as well, but I don't see the mint going after them.
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NH collector's Avatar
United States
127 Posts
 Posted 08/05/2016  8:21 pm  Show Profile   Bookmark this reply Add NH collector to your friends list Get a Link to this Reply
There are a few 1964 Peace dollars in private hands also. These have been illegal to possess.
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Conder101's Avatar
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 Posted 08/06/2016  07:56 am  Show Profile   Bookmark this reply Add Conder101 to your friends list Get a Link to this Reply

Quote:
But weren't the coins struck after it was made explicitly illegal for the public to own them?

No they weren't. Some may have been made afterward, but they were striking them before the gold recall order was made.
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United States
1450 Posts
 Posted 08/06/2016  09:38 am  Show Profile   Bookmark this reply Add terry8835 to your friends list Get a Link to this Reply
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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52Raymo's Avatar
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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 Get a Link to this Reply

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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jfransch's Avatar
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1801 Posts
 Posted 08/20/2016  6:52 pm  Show Profile   Bookmark this reply Add jfransch to your friends list Get a Link to this Reply
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 Get a Link to this Reply
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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 Posted 08/21/2016  11:04 am  Show Profile   Bookmark this reply Add steviegetz to your friends list Get a Link to this Reply
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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United States
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 Posted 08/21/2016  1:34 pm  Show Profile   Bookmark this reply Add terry8835 to your friends list Get a Link to this Reply
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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52Raymo's Avatar
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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 Get a Link to this Reply
Put em in the Smitty along with a story of the robbery and eventual recovery.
Oregon coin geek.....*** GO BEAVS ! ! ! ***
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MeadowviewCollector's Avatar
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 Posted 08/21/2016  4:23 pm  Show Profile   Bookmark this reply Add MeadowviewCollector to your friends list Get a Link to this Reply
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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52Raymo's Avatar
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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 Get a Link to this Reply
That would work !
Oregon coin geek.....*** GO BEAVS ! ! ! ***
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United States
1450 Posts
 Posted 08/22/2016  10:56 am  Show Profile   Bookmark this reply Add terry8835 to your friends list Get a Link to this Reply
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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