U.S. govt confiscates family’s rare gold coins worth $80 million

The U.S. federal government is more than $16 trillion in debt and desperate for cash. So now our “we’re here to help you” government is resorting to outright robbery.

A U.S. federal district court judge in Pennsylvania ruled that 10 rare gold coins worth $80 million which the family of a deceased coin dealer found in his bank safety deposit box, belong not to the family but to Uncle Sam.

The $20 Saint-Gaudens double eagle gold coin, produced by the United States Mint from 1907 to 1933.

Susanna Kim reports for ABC News, Sept. 6, 2012:

A judge ruled that 10 rare gold coins worth $80 million belonged to the U.S. government, not a family that had sued the U.S. Treasury, saying it had illegally seized them.

The 1933 Saint-Gaudens double eagle coin was originally valued at $20, but one owned by King Farouk of Egypt sold for as much as $7.5 million at a Sotheby’s auction in 2002, according to Courthouse News.

After the U.S. abandoned the gold standard, most of the 445,500 double eagles that the Philadelphia Mint had struck were melted into gold bars.

However, a Philadelphia Mint cashier had managed to give or sell some of them to a local coin dealer, Israel Switt. In 2003, Switt’s family, his daughter, Joan Langbord, and two grandsons, drilled opened a safety deposit box that had belonged to him and found the 10 coins.

When the Langbords gave the coins to the Philadelphia Mint for authentication, the government seized them without compensating the family.

The Langbords sued, saying the coins belonged to them. In 2011, a jury decided that the coins belonged to the government, but the family appealed.

Last week, Judge Legrome Davis of the Eastern District Court of Pennsylvania, affirmed that decision, saying “the coins in question were not lawfully removed from the United States Mint.”

Barry Berke, an attorney for the Langbords, told ABCNews.com, “This is a case that raises many novel legal questions, including the limits on the government’s power to confiscate property. The Langbord family will be filing an appeal and looks forward to addressing these important issues before the 3rd Circuit.”

The family said in its suit that in another seizure of the 1933 double eagle, the government split the proceeds with the owner after the coin sold for $7.59 million in 2002, according to Coinbooks.org.

H/t Patriot Action Network

Judge Legrome Davis (l) in 2010

U.S. federal judge Legrome D. Davis was nominated by George W. Bush and confirmed by the Senate in 2002. Here’s his contact info:

6614 U. S. Courthouse, 601 Market Street, Philadelphia, PA 19106
Phone: 267-299-7650; Fax: 267-299-5076

~Eowyn

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0 responses to “U.S. govt confiscates family’s rare gold coins worth $80 million

  1. Evidently Judge Davis liked the coins.

     
    • Slick move by the gov’t, too. Had the family bring the coins in for authentication and then seized ’em, forcing the family to prove (when they sued) that the coins were NOT stolen after 75 years. Had the gov’t decided to sue the family to get the coins, it would have the burden of proof to establish the coins were stolen (and 1933 double eagles, no matter how rare now, were face-value legal tender then and weren’t serial-numbered with their histories recorded for just such purposes now… even if none were officially released, someone could’ve simply exchanged them for other cash at the time when they were legal– which is a good deal of doubt benefiting the family to raise legally when the gov’t is suing them).

       
  2. Friends, never be surprised by any of these actions, which are entirely typical of a desperate government stealing anything it can for income. World history is rife w/such; the one most comparable to our era is that of the Roman Empire. After the Senate went down in flames, the latter Emperors made excuses as they went, stealing anything and everything, which is why people increasingly fled Rome for the countryside or islands. Eventually there were not enough people of training or ability to maintain essential services, so the cities fell into urban decay, until the downward spiral became fatal.

     
  3. Very sad to think the government is stooping so low.

     
  4. The illuminati has been around for a long time. The bible mentions them as the church of Satan. Now you have a better idea why they are bad and why they want to inject everyone with the microchip implant and take away your rights to self defense. You know them as the men promoting the New World Order. 

     
  5. This is what happens when you’re ruled by thieves.

     
  6. What a bunch of baloney!

     
  7. Our government is CRIME INC…do you thing your gold, silver,or property is safe from these thieves.

     
  8. Obivously it was the OJ jury that was seated for this trial.

    What a bunch of idiots.

    I hope this case is overturned on appeal, because if it isn’t, no one’s property will be safe from government theft.

    -Dave

     
  9. Its funny, they would’ve been better off to melt them down and get the 20 grand or so in gold. It’s infuriating to see our government treat people this way. It just makes me want to obey no laws, have no respect for any kind of authority, and get away with every thing I possibly can. Bleed the beast.

     
  10. this ruling is legally impossible, the statute of limits is long up both civil and criminal. getting the feeling this family is in the hand of a double-agent lawyer, they mostly are.

    property belongs to the 1st holder free of all other claims. and all other claims would be long expired.

     

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