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U.S. wins ownership of rare 'double eagle' gold coins
Source: Reuters
World | Mon Aug 1, 2016 3:56pm EDT
U.S. wins ownership of rare 'double eagle' gold coins
BY JONATHAN STEMPEL
A federal appeals court on Monday said a cache of exceptionally rare gold coins stolen from the U.S. Mint in the 1930s belongs to the U.S. government, not the Pennsylvania family that possessed it for decades.
By a 9-3 vote, the 3rd U.S. Circuit Court of Appeals in Philadelphia said Joan Langbord and her sons Roy and David cannot keep the 10 "double eagle" 1933 $20 gold pieces, estimated to be worth several million dollars each.
Monday's decision could end a decade-long battle that began after the Langbords, heirs to late Philadelphia jeweler Israel Switt, found the coins in a safe deposit box and asked the Mint to authenticate them, only to have them seized in 2004.
"The Langbord family fully intends to seek review by the Supreme Court of the important issue of the unbridled power of the government to take and keep a citizen's property," its lawyer Barry Berke said.
[font size=1]-snip-[/font]
The government said some coins were stolen by the Mint's cashier with help from Switt, the father of Joan Langbord.
[font size=1]-snip-[/font]
U.S. wins ownership of rare 'double eagle' gold coins
BY JONATHAN STEMPEL
A federal appeals court on Monday said a cache of exceptionally rare gold coins stolen from the U.S. Mint in the 1930s belongs to the U.S. government, not the Pennsylvania family that possessed it for decades.
By a 9-3 vote, the 3rd U.S. Circuit Court of Appeals in Philadelphia said Joan Langbord and her sons Roy and David cannot keep the 10 "double eagle" 1933 $20 gold pieces, estimated to be worth several million dollars each.
Monday's decision could end a decade-long battle that began after the Langbords, heirs to late Philadelphia jeweler Israel Switt, found the coins in a safe deposit box and asked the Mint to authenticate them, only to have them seized in 2004.
"The Langbord family fully intends to seek review by the Supreme Court of the important issue of the unbridled power of the government to take and keep a citizen's property," its lawyer Barry Berke said.
[font size=1]-snip-[/font]
The government said some coins were stolen by the Mint's cashier with help from Switt, the father of Joan Langbord.
[font size=1]-snip-[/font]
Read more: http://www.reuters.com/article/us-usa-doubleeagle-coins-idUSKCN10C33S
