Mint to Return Rare Double Eagle Coins Back to the Family

LNP,

A federal appeals court has ordered the U.S Mint to return 10 rare gold coins back to the inheritors of a Philadelphia coin dealer. The coin dealer had acquired the gold coin under mysterious circumstances, decades ago.

The panel of the Third U.S. Circuit Court of Appeals in Philadelphia, voted 2 to 1, on Friday to rule that the coins must be returned to Joan Langbord and her two sons. The coins, $20 gold pieces, are from Depression-era. They are called as “Double Eagles,” and the government had improperly confiscated them in 2004. Langbord had found those coins in 2003, in a safe-deposit box which was owned by her deceased father, Israel Switt.

The court rules that, “At the insistence of the Mint and against the wisdom of the Secret Service and multiple other agencies, the Government opted to ignore a federal law governing seized property. Now, the Langbords are entitled to the return of the Double Eagles.”

Friday’s verdict was the newest ruling in the long running drama, which started when Langbord discovered the gold coins in 2003.

Double Eagles were created by the U.S. government in 1933, but they were never released. There were almost 450,000 coins and most of them were melted into bars by orders from President Franklin D. Roosevelt, as there were efforts to cope with the gold hoarding during the Great Depression.

A handful of these coins have been resurfacing over the few years and have been traded for … MORE

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