445500 of these coins were actually produced in 1933 - yet none of them went into circulation. Somehow the agents were led to Israel Switt, who had sold the 10 coins in question. It is ironic that while one Roosevelt helped give us the stunningly beautiful Saint-Gaudens Double Eagle, another Roosevelt made it a federal crime to possess one dated 1933. How did they leave the Mint? The first Double Eagles were issued to the public in 1850. “Collecting Saint Gaudens, Parts I, II, III, IV, V”, NGC.com. His legal team argued that the United States had provided written permission for the coin to be included in a private collection: the export license of 1944. (d) Gold coin and bullion licensed for the other proper transactions (not involving hoarding) including gold coin and gold bullion imported for the re-export or held pending action on applications for export license. A number left the mint surreptitiously. Would they do the same for a painting or piece of sculpture? The United States Mint had only begun to strike 1933 $20 Gold Double Eagle coins on March 2, 1933. As for the Farouk coin, the United States had to sit on its hands until the Egyptian king was overthrown in 1952 to try to retrieve it. Based on Saint-Gaudens’ models, 24 pieces were struck as patterns. Besides U.S. issues, there were also Mexican and ancient Roman coins. He had read an article in the New York Times about the public auction by Sotheby’s and Stack’s on July 30, 2002 of the alleged King Farouk specimen. Regardless of how they got circulated or anything else we all are forgetting 1 specific fact. But my outside to behold. Several weeks later the mint acknowledged that an anonymous collector surrendered the coin. Judge Thomas Hardiman, who wrote the majority opinion, said that the coins were always U.S. government property. In a lengthy Coin World interview, Langbord said that in 2003 his mother, Joan Switt Langbord, told him of a bag of coins that was found in a safe-deposit box that had not been opened since the 1950s. Double Eagles are U.S. $20 gold coins, which served as money in the United States from 1850 to 1933. April 19, 2002. According to the out-of-court settlement, the U.S. Mint agreed to declare the notorious coin the only 1933 Double Eagle ever to have been issued (monetized) by the U.S. government. It is not sovereign nor can it be considered sovereign according to the US Constitution therefore it cannot claim ownership of ANY property and ANY and ALL PROPERTY In its clemency is to be considered PUBLIC PROPERTY. The discovery of these coins, however, was the beginning of a nightmare for the heirs of Israel Switt. Four years later, however, it appeared that the Langbords had a victory of their own. Fenton fought a several-year-long legal battle in the U.S. courts over ownership of the coin, during which time which it was stored in the Treasury Vaults at the World Trade Center. “Auction brings $7.6 million for ‘Double Eagle’”, CNN.com. A report published by Reuters said that Switt’s descendants were “the family of a thief” in the eyes of the government. The 1933 Double Eagle sold at auction on July 30, 2002, for $6.6 million, plus the 15% buyer's fee, which brought the total cost to the buyer to $7,590,000, plus $20 to monetize the coin and compensate the Mint for the $20 it believes it lost when the coin was thought to have been stolen. Nissen, Beth. One thing is for sure: the Secret Service can't confiscate it anymore! The coins, stored in a crumpled department store bag, were all made of gold. It has a unique history related to the Great Depression and even major legal disputes today. You should inform yourself on the Constitution of the United States. It will be interesting to see, should the 10 Langbord coins ever come to market, if the 1933 Double Eagle will retain its place as the world's highest priced coin when the number of available specimens increases ten-fold.Â. According to a report on CNN.com, years later the Secret Service learned that George McCann, the Mint’s chief cashier, had taken 10 of those “illegal” coins out of the Mint. A second set of dies was created, and over 12,000 of those “High Relief” coins were minted and released into circulation. “LIBERTY” is located above the figure of Liberty and the date 1907 is presented in Roman numerals, MCMVII. Israel Switt sold at least nine of the 1933 Double Eagles privately to collectors, one of which found its way into the collection of King Farouk of Egypt. Before they were legally released, however, a Presidential order was issued on March 6, 1933 prohibiting banks from paying out gold coins or gold certificates. Minting of the 1933 Gold Double Eagles continued through May 1933, with a total of 445,500 coins struck. The first double eagle was minted in 1849, coinciding with the California Gold Rush. The money from the sale was split evenly between the U.S. government and Fenton. As written above, Switt was interviewed by federal agents in 1944 about selling 10 of those coins. Today, the extremely rare original 1933 Double Eagle is the most valuable coin in existence. The winning bidder had to pay “a fee of $20 for the face value of the coin,” said David Pickens, who was Associate Director of the U.S. Mint at that time. She walks upon rocks and behind her are the Capitol building and rays of sunlight. And, in 1912, two more stars were added to the obverse after New Mexico and Arizona became states. A lower court ruled that the coins were the property of the United States government and therefore considered stolen property. According to a report in the New York Times, when the U.S. government discovered that Lot 185 in the Farouk Sale was a 1933 Double Eagle, the Treasury Department requested that it be removed from the auction. In early 1933, President Franklin D. Roosevelt (cousin of Theodore) issued Executive Order 6102 in an attempt to end the 1930s general bank crisis. According to the Coin World interview, Roy suspected that Mint officials had ulterior motives when, in the presence of Secret Service agents, the officials were filming the removal of the coins from their envelopes. According to the U.S. constitution the “US Government” IS NOT AND CANNOT BE A SEPARATED ENTITY NOR CAN IT BE IN ANY WAY SHAPE OR FORM CONSIDERED “APART FROM” WE THE PEOPLE!! In fact, Congress has ruled that it is illegal to own a 1933-dated gold piece since … At the Mint, 445,500 of the 1933 Double Eagles were struck, and production did not stop after the president issued his Executive Order. “IN GOD WE TRUST” had been left off the 1907 coins at the president’s insistence. There's a new King in the world of numismatics and it's the fabled 1933 St. Gaudens Double Eagle. This way, the accounting books would balance, and nobody would realize that anything was amiss. It did not become legal tender until the Mint Director signed the relevant documents after the conclusion of the sale. Lastly, Heritage sold a 1925 example graded MS 64 by PCGS for $1,560.00. “I would have the Mint stamp modern versions of those Greek coins in spite of itself,”, “You know, Saint-Gaudens, this is my pet crime.”, “It wasn’t until a few weeks after that license was signed that suddenly everyone realized that an awful mistake had been made,”, “This coin was illegal to own, and in fact clearly had been stolen from the U.S. Mint.”, “In 1944, we were in the middle of a world war, and Egypt stood at the crossroads in the middle of the Mediterranean,”, “It was not, perhaps, precisely the right moment in diplomatic history to go and try to make a claim on a coin.”, “a fee of $20 for the face value of the coin,”, “These Double Eagles were never lawfully issued, but instead, were taken from the … Mint … in an unlawful manner more than 70 years ago,”, “The Court’s decision upholds the rule of law and makes clear that the government will be held accountable when it violates the rights of its citizens and the clear mandate of Congress,”, “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.”, _______________________________________________________________________, http://www.cnn.com/2002/US/07/30/double.eagle/index.html, Counterfeit Coin Detection – 1850 JB Costa Rica Gold Escudo, Canadian Silver Coin Honors the Wedding of Prince Harry and Ms. Meghan Markle, Zoom Video Presentation: Travels in Judea and Samaria: Coins & Etc. The edge of the rim bears “E PLURIBUS UNUM” along with a series of six-pointed stars. About the 1933 Double Eagle The United States Mint has struck gold coins in various denominations since 1795. A possible type set for the collector with deep pockets would be: the Ultra High Relief, Roman Numerals, Lettered Edge coin of 1907; the High Relief, Roman Numerals, Wire Rim coin, also 1907; the High Relief, Roman Numerals, Flat Rim coin, 1907; the Arabic Numerals, Low Relief no Motto coin, both 1907 and 1908; and the Arabic Numerals, Low Relief Motto coin, 1908 to 1933. In 1944 King Farouk of Egypt obtained an export license for a 1933 Double Eagle. Part of that executive order is presented below: Section 2. These were the only two legal specimens ever to become part of a coin collection. “I would have the Mint stamp modern versions of those Greek coins in spite of itself,” said Roosevelt, if the honored sculptor would design them. The spectacular and controversial coin fell under the hammer on Tuesday, July 30, in New York City and obliterated the previous auction record of $4.14 million for a U.S. coin. The buyer chose to remain anonymous, and it is currently on display at The New-York Historical Society and Library, on temporary loan from an anonymous private collection. We may never know for sure how these coins left the Mint, but there is a general consensus among scholars that a Mint cashier by the name of George McCann exchanged about 20 1933's doomed for destruction and replaced them with earlier dated Double Eagles. “This coin was illegal to own, and in fact clearly had been stolen from the U.S. Mint.”. Garrett tells us that the 1927-D is more rare than the 1933. Therefore the 90-day time limit that typically applies to forfeited items did not apply. Switt preferred to do business in cash, and had two stand-up safes in his shop in Philadelphia that are still there. He brought it to the Waldorf Astoria Hotel in New York City to sell it for $1.6 million to an “American coin collector”. She holds a torch in her right hand, which represents enlightenment, while in her left hand is an olive branch, the symbol of peace. Although this was frowned upon by United States citizens, the penalties were steep and most citizens surrendered their coins for paper money. However, a few of them escaped the mint and were circulating in the underground rare coin market. Roy Langbord knew of the scarcity of the 1933 Double Eagle before the discovery of the family coins. 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