Double Eagle Intrigue

[Mokiechan]

And well worth the read.

 

I was recently reminded of a wonderful book in my Numismatic Library when I read a recent article about the start of the trial to determine the ownership of Ten 1933 Double Eagles held by the family of Israel Switt.

 

Author Alison Frankel turns the saga of the legendary 1933 Double Eagle into a fascinating walk through history. Shady Mint employees, The Secret Service, The FBI, a Secretive Precious Metals dealer (Mr. Switt), King Farouk, and a British Coin Dealer are all involved in this story spanning about 70 years.

 

A numismatic history that doubles as a great Detective story? You Bet! Give it a Read, I got my copy on half.com for a fraction of the cover price.

 

See more journals by Beaw

[coinsbygary]

I have somewhat been following this issue and read the Coin World article on it just this past week. A part of me really hopes the Switt family wins and those coins enter the market. On the other hand I know of at least one person who wouldn't mind seeing these coins melted and that is the person who paid more than 7 million dollars for the King Farouk coin. Nevertheless, I love it when the full force of government goes against the little guy and the little guy wins!

Gary

[Mokiechan]

But, I do suspect they left the mint by the back door and I hate to see a shady deal rewarded.

[coinsbygary]

In the history of the United States Mint there are several examples of back door shenanigans. The 1913 Liberty nickel and the 1894-S Barber dime comes to mind. Then there were the 1974 aluminum cents circulated as samples among senators and congressmen that came up missing and eventually ending up in the hands of collectors as a PCGS example of the 1974 aluminum cent recently came up for auction. In the end the court will determine with little physical evidence and few if any eye witnesses alive the fate of those 1933 double eagles and both sides will have to live with the court's decision. As a collector I'd hate to see these important pieces of American history either melted or unavailable to collectors. As a citizen, I am skeptical of governmental claims.

Gary

[johnny9434]

and dont forget the 1964 D Peace dollar. ( will hear about that for a long time to come )

[Mokiechan]

. As a citizen, I am skeptical of governmental claims.

Gary

 

Gary,

I see your point and I know it is shared by many but:

 

As an outside observer, I am skeptical of the claims of a family whose patriarch clearaly lied to the government when he asserted he no longer had any of the coins.

 

Unlike the Double Eagles, the 1913 Nickels, etc., were not demonetized and ordered returned by Executive Order, they were merely made on the sly (perhaps) then snuck out and sold. Still illlegal but, given the precedent of all those bogus patterns, hard for the government to fight.

 

I would prefer to have the Government win one over out and out greed but I would be OK with a compromise where the Government and the Switt family split the profits although the prices realized would undoubtedly be much less than the 7 million realized for the Farouk speciimen.

 

Malcolm