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| We'll Be Glad to Certify That Gold for you Ma'am |
The AP reports that the 10 double-eagles (valued at over $80 million in numismatic value) were confiscated after Joan Langboard took the coins to the US treasury to authenticate them.
And here we've been arguing that a gold and silver confiscation program by the government will not take place again. Apparently all bets are off if you're naive enough to let the feds hold your gold.
Just for kicks...perhaps one of our readers would care to perform Jim Sinclair's calculation for gold's target based on this new known total for Fort Knox gold holdings of 10 ounces?
From the AP:
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 government instead insists that no double eagles lawfully left the Mint, and that the coins were legally seized. The coins are being kept at Fort Knox.
Switt had been investigated at least twice by 1944 over his coin holdings.
In 1937, U.S. officials seized nearly 100 pre-1933 double eagles from him as he prepared to board a train to Baltimore to meet with a coin dealer. Switt said he knew it was illegal to possess the gold coins, and said he had eventually planned to surrender them, according to a ruling issued by the trial judge this week.
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