1933 Double Eagles, 1974 Aluminum Cent, 1964-D Peace Dollar, et al... posted by TD Henson

[CSJournals-migration]

Why all the fuss over nothing!

 

While the US attorney is thumping her chest and saying "you can't steal from the government and get away it" - the thousands of idiotic deals and contracts that allow people to steal from the government go on...

 

How stupid is this whole thing? Monetize the coins, offer the family a "finder's fee - 10% of the proceeds", sell them at auction and appropriate the money to paying down the national debt. Don't steal from the American people by taking this absurdity to court and spending hundreds of thousands of dollars refuting something so stupid. The US attorney should think about how she is legally stealing from the taxpayer's with this farce of a trial, instead of shaking a finger at the poor Swift family heirs and saying nanny-nanny-boo-boo.

 

Watch these will end up in the melting pot and be ruined forever, which will just about cap off the insanity. Same goes for all the other coins the US govt could have profited from over the years, instead of destroying valuable history of this country like the recent aluminum cents, the gold Sacagawea's that flew on the space shuttle, and so and on...

 

Sorry for the rant, just couldn't keep this one to myself...

 

See more journals by TD Henson

[J.A. Collection]

sell them at auction and appropriate the money to paying down the national debt.

Hey now, that sounds like too much sense. That will never happen!

[Kamakazy]

That would be to easy! Nice rant!

[johnny9434]

pay down the national debt? no, thats to easy

[Mokiechan]

I agree, the coins should should be auctioned to add a little cash to the national coffers. Given the number, they probably won't garner more than a max of 2 to 3 million, maybe a total of 20 MILL. Still a good number and still allowing these important pieces to be saved from the melting pot.

 

 

[patrick gerard-migration]

i agree, why goin after that family? they d'int do nothing wrong or maybe one ,trusting the mint with all the coins, maybe they should have sold 1 coin at the time?

[Mokiechan]

Somehow the Government will F up the whole deal and end up really depressing the value of the so-called Farouk specimen. Of course the Government already has there cut of the profit from that transaction so why would they care? Switt's family should get 10%, if for no other reason than the preserved some numismatic history. Since they've all already been slabbed, the individual prices should vary widely.

[TD Henson]

Hadn't even thought about the Farouk specimen that was monetized in 2003. So, why are these any different...

[MarkFeld]

Hadn't even thought about the Farouk specimen that was monetized in 2003. So, why are these any different...

According to the government, these are different, because, due to a screw-up, an export license was mistakenly granted for the Farouk coin. And once the mistake was discovered, they didn't want to try to go retrieve the coin from their ally.

[Texans Coins]

I agree with you in that it would be great to sell the coins, make some money for the Langbords and some for the government, preserve some history, and offer the possibility of 10 complete Double Eagle sets. (The buyer of the Farouk Specimen is not a coin collector)

 

With that being said, not excusing the government, I see their prediciment. When they authorized the Farouk specimen, they signed that that example would be the ONLY 1933 that would be legal to own. If they lose this trial / settle the trial, they could be opening themselves up to a lawsuit by the buyer of the Farouk specimen.

 

Any way you look at it, this will be an interesting trial. My hope is that the Langbords win and these coins come back into the marketplace where they belong.

 

For more information, read the book "Double Eagle" by Alison Frankel.

 

 

Happy collecting, everyone!

 

Marcus