1933 Double Eagles - What Will Happen.?

Well Catman, one thing is certain- the courts will be involved...
A big difference with the "king Farouk" 33 $20 is that there was a valid export license, and as a foreigner, he wasn't required to return the coin when the feds mandated redemption of all gold coins and bullion.
Also, the legal agreement for the "Farouk" 33 $20 specifically stated that no precednet was set should other 33s appear.
I came across some interesting background on how Swett likely acquired the coins:
https://goccf.com/t/2101
Most of the reporting I've read don't include the fact that he previously (in 1944) sold some of the 33s which were subsequently confiscated and melted. Interesting too that this was done after the statute of limitations on theft I (in PA? federal? article doesn't specify) had exprired.

What do folks think these would bring if sold legally? I don't see that they would bring $10M each, as some have speculated, just because the previous one went for 7M 3 yrs ago. Big differnce between a pop 1 coin and a pop 11 coin in value, it seems. However the mystique is worth alot! I'll say 3M eah- a complete WAG with no basis
An interesting story!
Don

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Originally posted by crystalk64

Well Catman, I will say the FAMILY, who ever they are, were crazy for ever surrendering those gold pieces in the first place! The government and the Mint has already made a huge error in judgement when they allowed the first one to be sold. PAST PRACTICE would come into play here and the family should have hired a high profile attorney and lived happily ever after, even if they did have to split the bounty with the mint!

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Yeah, they had held on to the coins for what, 15 years after Swett's death? One would think that they'd test the water with one, rather than all 10. If the coin dealer friend of Swett's (referenced in PA article above) is correct, there is one 33 unaccounted for which the family might still have.
What do you think they would bring at auction, Terry?

I think they will still bring considerable money but not near the over 7 million the last one brought. ND I still say "past practice" would stand up in a court of law as the U.S. has already made the mistake of letting one go, and as we all know quite recently, and a good legal team would tear the government up over that one. Still think they made a huge mistake turning them in. If nothing else, I would have tested the waters with one and kept my mouth shut on the other 9. Nothing is any more illegal than the 1913 Liberty "V" nickels nor more counterfeit and they are still out there. At least these gold coins were struck by the mint and they were AUTHORIZED to do so. Can't say that for those bogus nickels.

Technically the Federal Reserve is the agency that issues money. So until the Fed issues a particular coin or currency, it has NO LEGAL TENDER STATUS.

Now of course, MANY coins fall under this catagory. 100% of all the patterns are techically illegal under the Mint guidelines, as NONE were ever issued. Other KEY coins, such as the 1894-S Dime, 1866 Dollar NO MOTTO coins, 1792 Half Dismes, 1792 Cents, 1792 Quarter, 1804 Dollar, 1804 Eagle, 1870-S $3 Gold, 1879 $4 Gold, and the list goes on and on.

The Mint has a very funny way of determining what is legal and what is not. The rules have changed many times over the years, and without doubt will change again.

These coin's seem like a lose lose situation. I imagine the owner's are never reinbursed for the coin's

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Originally posted by Connecticoin

ND, I recall a story on another forum that a boatload of patterns became legal becuase a certain collector had some coins the Mint needed for the National Collection so they made a "trade".

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This is certianly true for the most part. A collector had several coins that the Mint wanted desperately, and they made the trade of several barrels of patterns, but alas, the time in which this was done, was before the Mint made rules regarding this type of transaction. You have to remember that the government makes and breaks rules almost daily, and it all depends on what suits them at the time.

Mint sets and Proof sets, do not fall under the same catagory. This is also true of commemoratives. However, all the coins are Legal Tender under the provision of the law.

I don't claim that this makes sense, as most of the laws do not. The government has a very funny way of deciding what is right and wrong, and when those rules apply.

Can you believe it? I received my CW mag today and read that 1 of the 10 1933 saint was used as a "pocket peice"--Imagine, having a super rare coin being worn out and being used as a pocket peice.
The US Mint invited Mr. Mulvaney to come & photograph all the 10 saints for there detail inventory with high grade photos. In their eval, they found 1 to have been used as a pocket peice--Can you imagine?I walk around with a 1997 SAE as a pocket peice, but a 1933 saint? wow thats a pocket peice LOL--Mr Switt had super high taste eh Wish I woulda known the dude & been a close friend

All I got to say is if I manage to find some in some buried treasure the government doesn't have to worry about me turning them in as they will go up for sale!
You are right about one thing Catman! The coins the Mint sells are not included in the Federal Reserves official money count and so it was NEVER released to the U.S. public! I guess if we spend a little now and then it will throw off all the government budget for an eternity? Boy, that would be a shame as the IRS can't keep track, right now, of what they took in just last week. They have no idea and if they did I will wager a weeks wages they don't have a clue where it is or where it went! Thats a fact!