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Feds Seize Gold Coins Worth $80 Mln From Pennsylvania Family

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posted on Sep, 7 2012 @ 09:35 PM
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If this isn't outright theft I don't know what is.

During the depression when Franklin Roosevelt ordered people to turn over their gold and so many idiots did so, some decided not to.

en.wikipedia.org...

Executive Order 6102 is an Executive Order signed on April 5, 1933, by U.S. President Franklin D. Roosevelt "forbidding the Hoarding of Gold Coin, Gold Bullion, and Gold Certificates within the continental United States". The order criminalized the possession of monetary gold by any individual, partnership, association or corporation.

The coins in question:

Executive 6102 also led to the ultra-rarity of the 1933 Double Eagle gold coin. The order caused all gold coin production to cease and all 1933 minted coins to be destroyed. About 20 illegal coins were stolen, leading to a standing United States Secret Service warrant for arrest and confiscation of the coin. A legalized coin sold for over 7.5 million dollars, making it the most valuable coin in the world, almost double its nearest competition.

I never understood how so many people just handed over their gold in exchange for paper but I guess that's what happens when you trust your Govt. so completely, they steal from you.

And here's a case where Govt. steps in and takes ownership of 80 Million Dollars in Gold. How is this possible 80 years later?
rt.com...

A federal judge has stripped a Pennsylvania family of their grandfather’s $80 millions worth of gold coins and ordered ownership transferred to the US government.


In the midst of the Great Depression, then-President Franklin Roosevelt ordered that America’s supply of double eagles manufactured at the Philadelphia Mint be destroyed and melted into gold bars. In 2003, Switt’s family opened a safe deposit back that their grandfather kept, revealing 10 coins among that turned out to be among the world’s most valuable collectables in the currency realm today.

So how do they justify this theft from a family?

Because the government ordered the destruction of their entire supply of coins decades earlier, the court found that Switt’s family was illegally in possession of the stash.

This is the part that really gets me angry...A jury awarded the Govt. the coins. A jury of citizens! I have to say that a few of these members were most likely bribed to sway the decision. Can I prove it? No. But to see a jury of citizens siding with Govt. on this scale tells me that either they were paid or the selection process was very one-sided.

Judge Legrome Davis of the Eastern District Court of Pennsylvania affirmed a 2011 jury decision that a box of 1933 Saint-Gaudens double eagle coins discovered by the family of Israel Switt, a deceased dealer and collector, is the property of the United States.

I know for a fact that if I was on that jury, there would be no way in hell I would side with the Govt. in stealing from this family.

Would you?

Peace



edit on 7-9-2012 by jude11 because: (no reason given)




posted on Sep, 7 2012 @ 09:38 PM
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Originally posted by jude11

I know for a fact that if I was on that jury, there would be no way in hell I would side with the Govt. in stealing from this family.

Would you?

Peace


Hell no I wouldn't side with the Government on this. This is illegal seizure, IMHO. Oh, I'm sure legally it's not, but it sure smells like it.



posted on Sep, 7 2012 @ 09:40 PM
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reply to post by jude11
 


If I remember the story correct. The grandpa stole the coins



posted on Sep, 7 2012 @ 09:42 PM
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I think the moral of this story is....if you find something valuable enough for Uncle Sam to covet your new found wealth or good luck, run FAR before saying a word. Not ONE WORD. Get to Ecuador. Assange gives it his seal of approval for safety from Uncle! I can't think of a better advertisement than that.


It's ...KINDA...SORTA..justifi...Well, no it's really NOT, but I can read the logic of stealing people's treasures when they've worked for years to find them and then excavate them. Of course..they didn't build that, so Gov't takes most of it if it's within 200 miles of our coast (It seems).

However... FAMILY property?? That law was obviously reversed or no one would hold anything made of gold today. I'll bet the Super Court just leaves this one alone tho.....even if it were appealed to them. Even they have their limits, and money is usually a safe bet. 80 Million reasons... How obscene!



posted on Sep, 7 2012 @ 09:42 PM
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reply to post by randomtangentsrme
 


Oh? Interesting...though isn't there a statute of limitations? Though now that I think of it, maybe that would only be applicable to prosecuting the grandfather for theft, if he did in fact steal them. But, after all this time, how could they know they were stolen? How were they identified as belonging to someone else?
edit on 7-9-2012 by BobM88 because: .



posted on Sep, 7 2012 @ 09:43 PM
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With Gold at almost $1800 I am sure they seized it for some reason. Harking back to the 40's seems like a good excuse. LOL.

Our Government, Our People!!!

Reminds me of the commercial where the guy walks in for a job interview and says "Dumbass???"....he replies "no, duuuuumassss".

No surprise here. Quit electing duuuuuumasssses and start electing smart, intelligent, not fake, for the people, not corporate, not in the pocket of the Military, not in the pocket of everyone, Representatives. The Congress and Senate are supposed to represent us not desecrate us.



posted on Sep, 7 2012 @ 09:44 PM
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I pray they appeal this case, with the best lawyers they can find. I bet there are a slew of lawyers lined up to take this case on contingency. Man, this just steams me......


Des



posted on Sep, 7 2012 @ 09:47 PM
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Originally posted by randomtangentsrme
reply to post by jude11
 


If I remember the story correct. The grandpa stole the coins


I'm still looking for that actually. From what I've found so far, theft was never proven only suspected.

Peace



posted on Sep, 7 2012 @ 09:49 PM
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Well this guy thinks we will be back on the gold standard within 2 years.
Would that be a good thing or a bad thing? I just don't know at this point.

www.businessinsider.com...

edit on 9/7/2012 by CaptGizmo because: (no reason given)



posted on Sep, 7 2012 @ 09:49 PM
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Originally posted by jude11

Originally posted by randomtangentsrme
reply to post by jude11
 


If I remember the story correct. The grandpa stole the coins


I'm still looking for that actually. From what I've found so far, theft was never proven only suspected.

Peace


Ha! I wondered that, I edited my post above to say...how can they know after all this time? Did someone say "Those were mine...they're circular, have an eagle on 'em...just like mine did, he stole them!!"



posted on Sep, 7 2012 @ 09:49 PM
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Executive Orders are scary. I have always been baffled at how one man, FDR, got away with confiscating the gold of all US citizens. Amazing! The people of that time seemed to have been easily b*llsh***ed.



posted on Sep, 7 2012 @ 09:50 PM
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Originally posted by CaptGizmo
Well this guy thinks we will be back on the gold standard within 2 years.
Would that be a good thing or a bad thing? I just don't know at this point.

www.businessinsider.com...

edit on 9/7/2012 by CaptGizmo because: (no reason given)


Simple actually.

If you have gold...Good.

If you don't have gold...Bad.



Peace



posted on Sep, 7 2012 @ 09:51 PM
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So the coins were worth so much because they were that rare coin they government wanted destroyed? If that is correct, if they had the coins melted they wouldn't have gotten taken away but be worth a lot less?



posted on Sep, 7 2012 @ 09:52 PM
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Originally posted by BobM88
reply to post by randomtangentsrme
 


Oh? Interesting...though isn't there a statute of limitations? Though now that I think of it, maybe that would only be applicable to prosecuting the grandfather for theft, if he did in fact steal them. But, after all this time, how could they know they were stolen? How were they identified as belonging to someone else?
edit on 7-9-2012 by BobM88 because: .


According to the source here, I do not see a statute of limitations. The double eagle was ordered melted down. Everyone but 2 were to be melted down. Makes it easy to see as to why they were Identified.



posted on Sep, 7 2012 @ 09:54 PM
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reply to post by jude11
 


From Wikipedia:


Order 6102 specifically exempted "customary use in industry, profession or art"—a provision that covered artists, jewellers, dentists, and sign makers among others. The order further permitted any person to own up to $100 in gold coins (a face value equivalent to 5 troy ounces (160 g) of Gold valued at about $7800 as of 2011). The same paragraph also exempted "gold coins having recognized special value to collectors of rare and unusual coins." This protected recognized gold coin collections from legal seizure and likely melting.


It seems that they could have $100 in gold coins. They found 10 coins, and the face value was $20, so it seems to me, but not the jury, that they could have legally kept 5 of these coins.

Also,

The family said in its suit that in another seizure of the 1933 double eagle, the government split the proceeds with the owner after the coin sold for $7.59 million in 2002.

From link.



posted on Sep, 7 2012 @ 09:56 PM
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Originally posted by jude11

Originally posted by randomtangentsrme
reply to post by jude11
 


If I remember the story correct. The grandpa stole the coins


I'm still looking for that actually. From what I've found so far, theft was never proven only suspected.

Peace


From my above link:



Last week, Judge Legrome Davis of the Eastern District Court of Pennsylvania, affirmed that decision, saying 'the coins in question were not lawfully removed from the United States Mint.'

edit on 7-9-2012 by superman2012 because: (no reason given)



posted on Sep, 7 2012 @ 09:57 PM
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reply to post by jude11
 


OUTRAGEOUS! S@Fed you before I read the thread just to settle down enough to read...



posted on Sep, 7 2012 @ 10:01 PM
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reply to post by jude11
 


Sometimes wiki is not a horrible source. I've seen you around these boards long enough to know you can find the relevant content from this link.
en.wikipedia.org...

If you can find me better evidence, please enlighten me. This is one subject I'm debating on hearsay.



posted on Sep, 7 2012 @ 10:04 PM
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Good God!

This was an executive order, not a real law passed by CONgress or anything. I don't see how this could have any force of law so many years later.

It just goes to show how badly we've all been conned into believing the government actually has the power to do anything they want. That jury should be ashamed of itself.



edit on 9/7/12 by FortAnthem because:
___________ extra DIV



posted on Sep, 7 2012 @ 10:06 PM
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Originally posted by randomtangentsrme

Originally posted by BobM88
reply to post by randomtangentsrme
 


Oh? Interesting...though isn't there a statute of limitations? Though now that I think of it, maybe that would only be applicable to prosecuting the grandfather for theft, if he did in fact steal them. But, after all this time, how could they know they were stolen? How were they identified as belonging to someone else?
edit on 7-9-2012 by BobM88 because: .


According to the source here, I do not see a statute of limitations. The double eagle was ordered melted down. Everyone but 2 were to be melted down. Makes it easy to see as to why they were Identified.


Also the reason why they are worth 80 million. These are apparently the last remaining 1933 double eagles that weren't destroyed, hence they are the most valuable coins in the world. Their illegality makes them even more valuable. There are psycho billionaire collectors who love to have stuff they can't even show anyone, and will pay big for things like this.

These fools made the mistake of taking them directly to the US Mint to have them valued. Once the Feds got their sticky mitts on them it was all over. If they had just kept their mouths shut and had them valued by a private coin dealer, well, we probably never would have even heard about it.

Reminds me of a time a ten year old boy found over 80 thousand gold doubloons right on the beach in Bimini. He and his dad dug them up with their bare hands, after they were exposed by a storm. Of course, it was the day before I got there. Instead of keeping their mouths shut about it, they told everyone. I think there is still an ongoing court battle between the Spanish, Bahamian, and Mexican govts about who gets to steal them from the boy. I believe the kid got to keep ONE coin. Shoulda kept his mouth shut.

Let that be a lesson to you all.



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