Feds Seize Gold Coins Worth $80 Mln From Pennsylvania Family

reply to post by dogstar23


Maybe but hopefully they do not just melt down the valuable coins.

People I'm an actual coin dealer, those coins were stolen!! They weren't put on the books as currency There is only one actual 1933. 20 dollar gold piece that is leagle to own

That one coin was given to a king in Africa as a gift from Roosevelt , his grand son got it and put it up for auction and yes a guy paid 7 millon for it but he couldn't take posssetion of the coin till he handed the girl at the window of the mint 20 bucks!!!

That is the only coin leagle to own!!!

If somebody stole your vintage 1963 split window corvette and the police found it 20-30 years later they would return it to you cuz its yours!!! Same thing here. The government owns those 10 coins found they were stolen property!!!

I'm realy sorry for the family that found them but they are stolen property!

Be safe people!!

I'm not surprised. Gold is the only thing backing the dollar bill...if the government wants to maintain thew value of the dollar, it has to control all the gold and silver as well. Why do you think the silver vanished from the WTC? Why do you think so many companies are offering cash for real gold?

They're getting all the gold and silver under the thumb of one entity.

reply to post by jude11


I have often said that if I were to be charged with a major crime of any sort, I would waive my right to a jury trial.

Judicial opinions may be frequently appealed and overturned... jury trials almost never.

This example reminds me why.

reply to post by viperdave


Stop talking sense this is ATS lol. It's ok to steal as long as you are stealing from the government.

reply to post by jude11

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.

One of the founding fathers of the U.S. warned against trading in gold and silver for paper money, that one doesn't even make it into modern history books anymore. Yep, the day the U.S. government convinced our great grandparents to give up their gold was the greatest magic trick on earth. The greatest heist of all time. Now just about every country followed suit. Now you know why 12 families rule the world, they have all the money and we gave it to them without a fight.

Yup your right!! Lol

They steal from us all the time

Originally posted by superman2012


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.

If the coin was confiscated legally by the government, why did it share the proceeds of the sale when it didn't have to?

Also, if it was illegal for one person to own this coin, why did the government then go and sell it to someone else? Why isn't owning it illegal for whomever bought it?

Or have I got things wrong?

I didn't read all te posts here, so I apologize.
they should have taken the coins to a black market or high level dealer.
I would never support the idea of a black market, but I this case I'd like to see the under dog win.
they should have gotten their worth with that rarity.

and isn't it crazy that the government came in people's lives and took their gold savings?
not much has changed in the world,has it.?

I thought I'd just mention a few things:

They didn't seize 80 million worth of Gold. The 80 million figure is a guess based on the collector value of the coins, not the gold content. I think most people understand this, but some do not. I only mention this because having 20 gold coins seized is a lot different than having 80 million of straight up gold seized. That would be a LOT of gold.

If these coins were legalized and hit the market, I'd bet money that their value is nowhere near 80 million dollars. The value of this line of coins was so high because of the incredibly low number of them on the market. If 20 new coins hit the market, the value of all the coins would go way down, meaning the 80 million figure is hugely inflated. Kind of like having some super rare Ferrari that there is only 2 left of. Say that Ferrari sold for 10 million dollars last time. If you find 20 of these Ferraris sitting in a barn somewhere, you don't have 200 million dollars worth of cars, because the value of the cars was based on their rarity. Having 20 additional Ferraris hit the market means it's nowhere as rare, which drops the value way down.

And last of all, these coins were stolen. They were not seized because they were from the era where gold was supposed to be turned into the government. I have family that owns some gold coin from that era, and it's perfectly legal to own. They were seized because the coins themselves were stolen, which makes them stolen property, and illegal to own. Because of this, I really don't see the issue here. People are twisting the story in order to hate on the government. There is enough REAL reason to hate the government without changing facts and twisting the truth. Bottom line, these coins are stolen property, so the government is well within their right to seize them, they aren't doing anything wrong or illegal. It has nothing to do with the fact that these coins were supposed to have been turned into the government back when private gold ownership was outlawed. They were flat out stolen, and should have been seized.

Was all the gold confiscated, OR all the Gold coins which were issued by the country as legal tender? Did people have to turn in their gold at the time, or the gold coins?

This reminds me of the missing Constitution from, I believe, NC. One of the states anyway. Some guy finds it and tries to sell it back to the government, and he gets not only zero dollars, but arrested as well. I would have destroyed it personally, and videotaped it and sent it to the government. They don't honor the Constitution or Bill of Rights anyway...

If the guy stole them, that's one thing, but if not...These people did nothing wrong. The government has a right to take them, BUT they need to give the family paper money in exchange. But there is no way the government will pay out any large sums of money unless it has to, and even then it will delay and prolong the process as long as they can get away with it...Notice I didn't say as long as they legally can. Because the government breaks their own laws all the time.

Why hold coins worth 80 million? They are worth what a collector would pay. I would've sold those coins years before and invested in a crap load of pure Gold and Silver. With all that Gold and Silver for barter, I could set my own value for Gold when SHTF, I'd be one of the richest people around.

You know something, all those who like gold,silver,copper,or any stones are so stupid,blind and so caught up its worth more than money, but in reality its worthless as the bill in your wallets.
They are just stones, now just think about this for a minute, why is it worth so much?
Its because those who destroy nature and its natural places to get it want you to believe it has a value so they have more reason to destroy mother earth.
I will tell you right now no natural stones or earths items is worth a damn penny..
Just too many innocent lives are lost everyday digging for it and the man behind it sits back and makes megabucks as you slowly die of some disease because of the items you use to get it not counting the gasses you suck in.

So go ahead and dig, dig and dig your graves for useless stones, give the useless big boss reason to destroy more lands.. I promise you I have one product that is worth more than anything you own or have on you are at your home
or work places.... What is it....well I tell you what, if you come to my home and want to trade your valuables for my item, i will close the door in your face.
Water is the most precious, valuable item in my possession and no product can be traded equally unless its food. Because only food and water has value because you cant live without it, what can useless stones buy? If all those rocks are valuable than why cant i break up a 1,000 pieces of granite and sell it by an ounce just like those other valuable rocks... rocks are rocks right? you see its only valuable because the bosses say it is and so the demand for it is high, but over all its useless against my water. not even a dump truck full of gold can buy 1 bottle of water. So please go ahead and support it because while you are rich over useless rocks, i am wealthy over water because i dont have to destroy lands to get it... ahhhhhhhhhhh nice clean crystal clear water gulp gulp. you think i am crazy? than be it, but one thing i do know no stone will quench my thirst and hunger.

reply to post by Kabayu


An excellent down-to-Earth, veil-lifting post - love it

The best things in life are free.

Star

As a gold and silver investor (not collector)
i am a little ashamed of the family for even wanting the coins at all.

they have a melt value of $1678.51 each (9/9/2012)
= $16,785.10 in total they had.

now granted there was a collectible value. (80 million dollars)
but i would have sold them long ago for that 80 million, and reinvested in tons more gold or other investments.


collectable mean nothing to me, and in the event of an economic crash. no one will care about your sentimental value or your historic value then.


dont get me wrong. if this was a family heirloom situation, person could just keep 1 or 2 of them. i mean who needs 80 million dollars, seriously.
i just think investing in collectibles is dangerous.
if the dollar falls, people will trade for the value of the metal, not so much what it's stamped with.

Meshes nicely with how California is conveniently 'claiming' that te recent discovery of gold was actually stolen from their mint.
It is gold country and I thought that prospectors could take their gold to a mint and have it assessed and sell the raw gold for minted coins.

Just saying.

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)

there is not enough gold to support the amount of currency floating around the world. going back to the gold standard will bankrupt millions of individuals. not the rich but the poor and middle classes. the economies would be utterly destroyed.

should the govt have taken this gold? no. hell no. furthermore it should never have been made illegal in the first place. it was that blue eagle badge promulgating bastard communist crap pile that's the historical darling of vastly ignorant politicophiles both left and right. he should have been executed; not adored.

i know where there are several purloined gold payrolls stashed about and i intend to get em and keep 'em just to piss 'em off.

Keep in mind (or mine in this case) that the gold from northern California mining paid for 1/3 of the war of northern aggression (AKA the 'Civil' war) so there was a lot of gold to be found and mined both before and after the war.
It is my opinion that the 'news clipping' is as genuine as the first three drafts of a certain Hawaiian birth certificate.
The state created the 'news clipping' and hired an historian to back up their claims so they could steal gold that they had no rightful claim at all to.