Family fights government over rare ‘Double Eagle’ gold coins

Eagle gold coins

A jeweler's heirs are fighting the United States government for the right to keep a batch of rare and valuable "Double Eagle" $20 coins that date back to the Franklin Roosevelt administration. It's just the latest coin controversy to make headlines. Philadelphian Joan Langbord and her sons say they found the 10 coins in 2003 in a bank deposit box kept by Langbord's father, Israel Switt, a jeweler who died in 1990. But when they tried to have the haul authenticated by the U.S. Treasury, the feds, um, flipped.





They said the coins were stolen from the U.S. Mint back in 1933, and are the government's property. The Treasury Department seized the coins, and locked them away at Fort Knox. The court battle is set to kick off this week.
The rare coins (pictured), first struck in 1850, show a flying eagle on one side and a figure representing liberty on the other. One such coin recently sold at auction for $7.6 million, meaning the Langbords' trove could be worth as much as $80 million.
The coins are part of a batch that were struck but then melted down after President Roosevelt took the country off the gold standard in 1933, during the Great Depression. Two were given to the Smithsonian Institution*, but a few more mysteriously escaped.
The government has long believed that Switt schemed with a corrupt cashier at the Mint to swipe the coins. They note that the deposit box in which the coins were found was rented six years after Switt's death, and that the family never paid inheritance tax on the coins.
A lawyer for the Langbords counters that the coins could have left the Mint legally since it was permissible to swap gold coins for gold bullion.
Authorities in the Roosevelt era twice looked into Switt's coin dealings, including his possession of Double Eagle coins. In 1944, Switt's license to deal scrap gold was revoked.
The battle over the Double Eagles is hardly the only recent coin contretemps. Two British metal-detecting enthusiasts are said to be locked in a bitter dispute over how to divide the profits from a horde of Iron Age gold coins that they unearthed together in eastern England in 2008.
And an 80-year-old California man was jailed in 2009 after allegedly hitting another man in the head with a metal pipe and firing a gun at a third man during a dispute over missing gold coins.
Some coin disputes involve more than wrangling over valuable collectors' items. In 2007, Secret Service and FBI agents raided an Indiana company called Liberty Dollar, in a bid to stamp out illegal currency. The firm was making "Ron Paul Silver Dollars," in honor of Rep. Ron Paul, whose presidential campaign advocates bringing back the gold standard.
And since we're talking about coins, here's a list of the ten most valuable coins you might find in your pocket change.
* This sentence previously referred incorrectly to the "Smithsonian Institute."

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Aung San Suu Kyi to present the BBC's Reith Lectures

 

Aung San Suu Kyi, the Burmese pro-democracy leader, will deliver the 2011 BBC Reith Lectures.

Her two lectures will discuss the themes of dissent and liberty and will be broadcast on BBC Radio from 28 June.
The lectures are part of a wider series, entitled 'Securing Freedom', reflecting on global events of the past year.
Former MI5 Director-General Baroness Manningham-Buller will present three further lectures in September.
Aung San Suu Kyi said: "When I was under house arrest, it was the BBC that spoke to me - I listened.

"I am so grateful for this opportunity to exercise my right to human contact by sharing with you my thoughts on what freedom means to me, and others across the world who are still in the sad state of what I would call 'unfreedom'."

I am honoured to share this year's Reith Lectures with Aung San Suu Kyi, whose selfless courage on behalf of Burma's freedom should remind us not to take our own freedoms for granted”

End Quote Eliza Manningham-Buller Former head of MI5

"These are two very different sides of a familiar story - the struggle for liberty and its defence."

Aung San Suu Kyi's first lecture will examine the notion of dissent, and will draw on her personal experience as a campaigner for democracy.
In 1990, Aung San Suu Kyi's National League for Democracy won the Burmese election by a landslide. She then spent 15 of the next 20 years under house arrest, and was finally released on November 13, 2010.
The Nobel Peace Prize winner's second lecture will explore the notion of democracy, and the responsibility of the international community towards authoritarian regimes, with reference to recent events in the Middle East.
Normally the Reith Lectures are delivered in person in front of a live audience, but due to the exceptional circumstances, Aung San Suu Kyi's lectures were recorded in Burma this week.




The second phase of this year's Reith Lectures will be broadcast in September 2011 to coincide with the tenth anniversary of the 9/11 attacks on New York and Washington DC.

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