Judge: Family’s $80 million gold coin collection belongs to uncle sam

[L.K.Eder]

Okay, had a talk with my Brother, who is a coin collector and knows a lot more about coins than I do.

The issue with THESE coins was that they were 1933 Double Eagles, minted in 1932 but never supposed to be put into circulation because the US went off the Gold Standard and they could no longer be used as legal tender.

The aforementioned "Kind Farouk" specimen was given as a gift by FDR to King Farouk of Egypt. When it found its way onto the market, it was exempt from the ruling because it was a gift to a foriegn head of state. As such, it was sold and is now on display at various museums, which is where the 8 million figure comes from.

These coins were illegally issued at the time. Possibly because they were given out by the mint before the order came down or a mint employee smuggled them out. In any event, they were never supposed to have been in private hands. That is what gives the government the right to confiscate them.

Do you have a link to substantiate this? It makes a big difference. On one hand, the information in the OP makes this look like a clear case of abuse of power. On the other, if the government has a valid claim that this is stolen property to begin with…

Jury: Double-eagle coins belong to government - Philly.com

 

[flacaltenn]

So, all gold was supposed to be turned in for cash. This would cover any antique jewelry or other items people have.

There were personal amount exemptions given that would cover 90% of the population's personal jewelry, dentalwork, and holdings. But YES -- the object was to call in gold and prevent hoarding as FDR mangled the currency.

 

[Full-Auto]

Okay, had a talk with my Brother, who is a coin collector and knows a lot more about coins than I do.

The issue with THESE coins was that they were 1933 Double Eagles, minted in 1932 but never supposed to be put into circulation because the US went off the Gold Standard and they could no longer be used as legal tender.

The aforementioned "Kind Farouk" specimen was given as a gift by FDR to King Farouk of Egypt. When it found its way onto the market, it was exempt from the ruling because it was a gift to a foriegn head of state. As such, it was sold and is now on display at various museums, which is where the 8 million figure comes from.

These coins were illegally issued at the time. Possibly because they were given out by the mint before the order came down or a mint employee smuggled them out. In any event, they were never supposed to have been in private hands. That is what gives the government the right to confiscate them.

The government claims that they got out illegally, they offered no proof. Believe it or not, the way it is supposed to work is that the government has to prove you are guilty before they can take your property.

It's not incumbant on the government to prove that. There's a law. You are not allowed to own these. Period. How you got them is irrelevent to the point.

THERE IS BIG GOVERNMENT JOE.


He approves of government theft.

 

[del]

Wow! Just wow!

I'm guessing that when the NEW order for gold confiscation comes down the pike that those of you who support this government-sponsored larceny will be lining up to turn in whatever bullion assets you hold today?

is that what glenn told you?

idiot

 

[flacaltenn]

So, all gold was supposed to be turned in for cash. This would cover any antique jewelry or other items people have.

No, all Gold COINS were supposed to be turned in for cash.

NOT ---- just gold coins. The confiscation included bullion and certificates as well.

At that point -- the objective was to prevent hoarding because the currency was BACKED by gold. And FDR wanted to revalue the currency so ALL gold was subject to repricing and recall. Personal exemptions excluded MOST EVERYONE except the large holders.

THESE coins LEAKED out of the Mint prior to official release. They actually traced and recovered the MAJORITY of the leaked coins. So in that sense -- you are correct. THey were covered by the Exec Order. Doesn't change the fact that today's prosecution is pretty pointless and vindictive.

 

[flacaltenn]

Wow! Just wow!

I'm guessing that when the NEW order for gold confiscation comes down the pike that those of you who support this government-sponsored larceny will be lining up to turn in whatever bullion assets you hold today?

is that what glenn told you?

idiot

Are you saying this can't happen? Seems more likely to happen a SECOND time doesn't it? If there is a run on gold/silver that affects the ability of GOVT to further devalue the dollar without creating busloads of new evil rich....

 

[bigrebnc1775]

So, all gold was supposed to be turned in for cash. This would cover any antique jewelry or other items people have.

No, all Gold COINS were supposed to be turned in for cash.

for a worthless piece of paper and you think this is a good thing?

 

[bodecea]

You mean the Tyranny?

This just "normalizes" the idea in the public's mind that it's ok for Gov't to confiscate gold. It certainly has for uscitizen.

As the US Gov't goes farther over the fiscal cliff they'll look to find new ways (as well as revive old ones) to steal money from The People.

NOt seeing an issue there. These coins were the property of the US GOvernment and they were ordered to be turned in.

In all probability, they will get a percentage of the proceeds of the sale of these coins.

ta da!


Only a leftist fuck would think such utter bullshit.

I love how you have no concept of the monetary supply and legal tender. LOL

 

[bigrebnc1775]

NOt seeing an issue there. These coins were the property of the US GOvernment and they were ordered to be turned in.

In all probability, they will get a percentage of the proceeds of the sale of these coins.

ta da!


Only a leftist fuck would think such utter bullshit.

I love how you have no concept of the monetary supply and legal tender. LOL

Here is the problem this is how it's starts people like you think it's acceptable for the government to take something because you think they own it. Start with gold then next is guns then your home all because idiots like you think the government has the power to do it.

 

[peach174]

Just goes to show how important paper work is.
If their Dad had kept the sale receipt or documentation of how he got the coins in the first place, then they would have had a case.

 

[del]

Wow! Just wow!

I'm guessing that when the NEW order for gold confiscation comes down the pike that those of you who support this government-sponsored larceny will be lining up to turn in whatever bullion assets you hold today?

is that what glenn told you?

idiot

Are you saying this can't happen? Seems more likely to happen a SECOND time doesn't it? If there is a run on gold/silver that affects the ability of GOVT to further devalue the dollar without creating busloads of new evil rich....

that'd make sense if we were on the gold or silver standard.

but we're not. sorry

 

[uscitizen]

Okay, had a talk with my Brother, who is a coin collector and knows a lot more about coins than I do.

The issue with THESE coins was that they were 1933 Double Eagles, minted in 1932 but never supposed to be put into circulation because the US went off the Gold Standard and they could no longer be used as legal tender.

The aforementioned "Kind Farouk" specimen was given as a gift by FDR to King Farouk of Egypt. When it found its way onto the market, it was exempt from the ruling because it was a gift to a foriegn head of state. As such, it was sold and is now on display at various museums, which is where the 8 million figure comes from.

These coins were illegally issued at the time. Possibly because they were given out by the mint before the order came down or a mint employee smuggled them out. In any event, they were never supposed to have been in private hands. That is what gives the government the right to confiscate them.

The government claims that they got out illegally, they offered no proof. Believe it or not, the way it is supposed to work is that the government has to prove you are guilty before they can take your property.

NOt since the reagan years of the DEA.

 

[bodecea]

The only criminal in this affair is the federal government. What authority does the government have to force you hand over your gold coins?

The same one that gives them the authority to mint coins to start with. Section 1 of the constitution give Congress the power to charter banks and issue currency, both coin and paper.

Sorry, I don't see anything there that authorizes the government to confiscate your gold coins.

The only thing that makes these coins worth millions of dollars is that they are some of the last Double Eagles in existence.

Yeah? so? How does that give government the authority to confiscate them?

Currency is and remains the property of the United States Government. While you own the value of the currency, the actual currency is the property of the government. It's why you can't draw penises on Geo Washington's head on the $1.00 bill.

Bullshit. furthermore, coins aren't "currency." That is, they aren't reserve notes. They have intrinsic value. The Constitution does not authorize the government to print currency. That's what the Supreme Court ruled after the Civil War. That's why we have the fiction that the Federal Reserve is a private bank.

Everything about this case is based on bogus premises.

Coins aren't currency?

 

[Quantum Windbag]

Okay, had a talk with my Brother, who is a coin collector and knows a lot more about coins than I do.

The issue with THESE coins was that they were 1933 Double Eagles, minted in 1932 but never supposed to be put into circulation because the US went off the Gold Standard and they could no longer be used as legal tender.

The aforementioned "Kind Farouk" specimen was given as a gift by FDR to King Farouk of Egypt. When it found its way onto the market, it was exempt from the ruling because it was a gift to a foriegn head of state. As such, it was sold and is now on display at various museums, which is where the 8 million figure comes from.

These coins were illegally issued at the time. Possibly because they were given out by the mint before the order came down or a mint employee smuggled them out. In any event, they were never supposed to have been in private hands. That is what gives the government the right to confiscate them.

The government claims that they got out illegally, they offered no proof. Believe it or not, the way it is supposed to work is that the government has to prove you are guilty before they can take your property.

It's not incumbant on the government to prove that. There's a law. You are not allowed to own these. Period. How you got them is irrelevent to the point.

You just proved my point, believe it or not. It should be required that the government prove a crime took place before they can seize assets involved in the crime. The fact that you don't get that is the entire problem.

 

[Quantum Windbag]

Okay, had a talk with my Brother, who is a coin collector and knows a lot more about coins than I do.

The issue with THESE coins was that they were 1933 Double Eagles, minted in 1932 but never supposed to be put into circulation because the US went off the Gold Standard and they could no longer be used as legal tender.

The aforementioned "Kind Farouk" specimen was given as a gift by FDR to King Farouk of Egypt. When it found its way onto the market, it was exempt from the ruling because it was a gift to a foriegn head of state. As such, it was sold and is now on display at various museums, which is where the 8 million figure comes from.

These coins were illegally issued at the time. Possibly because they were given out by the mint before the order came down or a mint employee smuggled them out. In any event, they were never supposed to have been in private hands. That is what gives the government the right to confiscate them.

Do you have a link to substantiate this? It makes a big difference. On one hand, the information in the OP makes this look like a clear case of abuse of power. On the other, if the government has a valid claim that this is stolen property to begin with…

Again, all currency is property of the Federal government.

So the most these folks are entitled to is $160.00, the face value of the coins.

Again, not true.

 

[Quantum Windbag]

So, all gold was supposed to be turned in for cash. This would cover any antique jewelry or other items people have.

No, all Gold COINS were supposed to be turned in for cash.

Actually, that is highly debatable. Given the fact that many collectors actually have gold coins from before the order that everyone turn in all gold coins, and that they are openly sold on the market, I think you have no more idea what you are talking about than my cat.

Feel free to provide actual links to disprove that people actually openly and legally trade those coins.

 

[Ravi]

They were originally stolen from the US Government. People have no right to keep stolen property.

I hope the US government sells them instead of melts them down, though. Or puts them in the National Archives.

 

[bigrebnc1775]

They were originally stolen from the US Government. People have no right to keep stolen property.

I hope the US government sells them instead of melts them down, though. Or puts them in the National Archives.

Of course because the guberment said so.

 

[bodecea]

The government claims that they got out illegally, they offered no proof. Believe it or not, the way it is supposed to work is that the government has to prove you are guilty before they can take your property.

It's not incumbant on the government to prove that. There's a law. You are not allowed to own these. Period. How you got them is irrelevent to the point.

You just proved my point, believe it or not. It should be required that the government prove a crime took place before they can seize assets involved in the crime. The fact that you don't get that is the entire problem.

Gosh darn it...they should have had a trial...with a jury and all....

 

[bigrebnc1775]

It's not incumbant on the government to prove that. There's a law. You are not allowed to own these. Period. How you got them is irrelevent to the point.

You just proved my point, believe it or not. It should be required that the government prove a crime took place before they can seize assets involved in the crime. The fact that you don't get that is the entire problem.

Gosh darn it...they should have had a trial...with a jury and all....

It was at one time accepted that citizens had rights

The right of the people to be secure in their persons, houses, papers, and effects, against unreasonable searches and seizures, shall not be violated, and no Warrants shall issue, but upon probable cause, supported by Oath or affirmation, and particularly describing the place to be searched, and the persons or things to be seized