Yesterday, jury concluded on the 1933 double eagles case-govt can seized coins. A news by The Associated Press reported that jury has decided the U.S Treasury rightfully seized a set of rare 1933 gold coins from a Philadelphia family. The Langbord families are expected to appeal against the decision. The trial judge, Legrome Davis, will next rule on “ownership” of the coins later this year. The coins are estimated to be worth $75 millions dollar base on 1933 double eagles past auction.
In the case, the government argues that the safety box was not rented until six years after Switt died in 1990. Government lawyers say that 10 other "double eagles" that surfaced in the 20th century can all be traced to Switt. Prosecutors believe Switt and a corrupt cashier at the Mint had a hand in the breach. The Langbords had opened their deposit box the day before the London dealer's Farouk coin was seized in 1996, Romero said. The family later offered a similar 50-50 split with the U.S. to settle the case, but the government rejected it on grounds the family cannot legitimize their ownership of the coins, given Switt's history.
Lawyers for Langbord and her two sons Roy and David, argue in court documents that having a theory as to how the coins left the mint isn't enough. The government must prove the coins were stolen. They argue that in the 1930s, it was common and even permissible for employees of the mint to replace old coins with new ones of equal value.
Source: Associated Press
No comments:
Post a Comment