Saturday, April 18, 2015

US Family Wins Back Seized Gold Coins That Could Be Worth US$80M


Ten rare 1933 St Gaudens whose provenance was recently disputed in Federal Court (Image source: www.carmelstampandcoinshop.com)

A Philadelphia family has been awarded the rights to 10 rare gold coins (NOT PICTURED) possibly worth US$80 million or more after a U.S. appeals court overturned a jury verdict.

U.S. Department of the Treasury officials insist the US$20 Double Eagles were stolen from the U.S. Mint in Philadelphia before the 1933 series was melted down when the country went off the gold standard.

Prosecutors say Joan Langbord and her sons cannot lawfully own the coins she says she found in a family bank deposit box in 2003. A jury in 2012 agreed.

But the appeals court ruling Friday returns the coins to the Langbords because U.S. officials didn't respond in time to the family's claim for the seized property.
A Treasury spokeswoman has no immediate comment on the ruling.

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