Judge Rules: Family’s $80 Million Gold Coin Collection Belongs to the Government…

9 09 2012


10 rare gold coins worth roughly $80 million has been ruled on and belong to the U.S. government, not the family that possessed them, said a judge, according to ABC News.

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 Fort Knox.

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 really worth”

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 last.

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 Great Depression.

“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 relates.

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 ALL!

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?!?


Government theft at its best! We do live under tyranny apparently.

The moral of the story. Never, never, never tell the government anything.