“Double Eagles” Have Been Found In Philadelphia

CNBC News reported about coins, that are called  “double eagles”.

The U.S. government rightfully seized a set gold coins from a Philadelphia woman Joan S. Langbord who said she found the rare beauties in her late father’s bank deposit box. Why?

We found out the answer in Wikipedia. Here is the story:

“A Double Eagle is a gold coin of the United States with a denomination of $20. The coins are made from a 90% gold (0.900 fine = 21.6 kt) and 10% copper alloy.

The  Saint-Gaudens double eagles are named after their designer, Augustus Saint-Gaudens, one of the premier sculptors in American history.

Theodore Roosevelt imposed upon him in his last few years to redesign the nation’s coinage at the beginning of the 20th century. St. Gaudens’ work on the high-relief $20 gold piece is considered to be one of the most extraordinary pieces of art on any American coin.

In 1933 President Franklin Roosevelt stopped the coinage of gold and made it illegal to own the metal (although coin collectors could retain their pieces). With one exception, no 1933 double eagles were ever legally released, although some were stolen from the government, and over the years several were recovered.

In the summer of 2002, a 1993 Double Eagle was auctioned off for $7,590,020. This piece is unique as the only 1933 double eagle the U.S. government has deemed legal for its citizens to own (having been negotiated as such through terms of a U. S. treaty with a foreign government). Even illegal instances of the 1933 double eagle would be worth hundreds of thousands of dollars, but it would be illegal for a U.S. coin dealer to broker a deal with one of these coins.

In August 2005, the United States Mint recovered ten 1933 Double Eagle coins from a private collector who had contacted the United States Mint to facilitate their surrender.

Joan S. Langbord has claimed that she inherited the coins from her father, a suspect in the alleged original theft, but is now planning a federal suit to recover the coins after  her hopes of receiving monetary compensation from the federal government were not realized. As of August 2005, the Mint has announced that it would consider saving the coins for display, though as of December 2007, no formal statement has since been made.

In September 2009 a federal judge finally ruled that the government had until the end of the month to return the confiscated coins to the family or to prove that they had indeed been stolen.

On 20 July 2011, a civil-court jury awarded ownership of the ten coins to the U. S Government on grounds that the coins were stolen from the mint.

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