Judge Rules: Family’s $80 Million Gold Coin Collection Belongs to the Government. Right or wrong?
Joan Langbord and her family, in 2003
opened a safety deposit box that belonged to Langbord’s father,
Philadelphia coin dealer Israel Switt, they found a valuable coin
collection. When they asked the Philadelphia Mint to authenticate the
collection, the coins were then seized without compensation and taken to
The 1933 Saint-Gaudens double
eagle is “one of the most sought-after rarities in history,” according
to Courthouse News. Originally valued at $20 each, one owned by King
Farouk of Egypt reportedly sold for as much as $7.5 million at a
Sotheby’s auction in 2002.
This gold is not stolen gold, or robbed
from a bank…. The government said “Hey our bank buddies are failing so
we need all the people who own gold to sell it to us at a % of what its
This should be an eye opener for anyone
“Investing” in gold. This is not the first time the government has
stolen gold from its people in our nations history and it wont be the
The federal government keeps pushing and
pushing by violating the Constitution, and by making up laws as they go
along. If there coins were stolen from the government, fine, but I
seriously doubt that’s the case.
The Langbords unsuccessfully
sued the government in 2011, alleging that the coins are rightfully
theirs, and now they have lost the appeal.
Jacqueline Romero, assistant U.S. attorney
in Philadelphia, explained that the coins legally belonged to the
government after Franklin Delano Roosevelt ordered citizens to exchange
their gold for cash in an effort to keep the banks afloat during the
“Those coins were all in a vault and were supposed to be melted,” she asserted.
Apparently the government ‘meticulously’
tracked the paper-work, and I imagine they meticulously track it about
as well as they do veteran’s military records when they say a fire
destroyed a building that had your records in it.
When we are careening toward bankruptcy any
asset the Feds can lay there hands on is fair game! We are also in the
era of multimillion dollar fines. Just a little redistribution of
wealth! After all why should anyone have an 80 million dollar asset?
The family maintains that in
another seizure of the valuable coin, the government split the proceeds
with the original owner after it sold for $7.59 million in 2002, and
that the coins escaped the Mint legitimately through a “window of
opportunity” between March 15 and April 5, 1933, the Huffington Post
However, U.S. District Judge Legrome Davis
Jr. wrote in his decision: “The Mint meticulously tracked the ‘33 Double
Eagles, and the records show that no such transaction occurred…What’s
more, this absence of a paper trail speaks to criminal intent. If
whoever took or exchanged the coins thought he was doing no wrong, we
would expect to see some sort of documentation reflecting the
transaction, especially considering how carefully and methodically the
Mint accounted for the ‘33 Double Eagles.”
“Nobody witnessed the disappearance of the
10 coins, but the jury could – and did – properly infer criminal
intent,” Davis added.
Barry Berke, the family’s attorney, concluded for ABCNews.com: “This is a case that raises many novel legal questions, including the limits on the government’s power to confiscate property.”
These government leaches could have gotten
taxes on the proceeds when these coins were sold .. but that isn’t
enough for them — they don’t want a cut of what you have … THEY WANT IT
And it all started with an unconstitutional executive order by FDR that was never challenged.
The judge enforced an unconstitutional and
unjust law. We all know what the GOV will do with the money anyway–SPEND
IT! Anyone think they‘ll invest it somehow for America’s good or even
use it to help pay of some of the DEBT it has incurred?!?
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