Israel Switt a Philadelphia jeweler losses $80 million in 1933 Double Eagles to the US governent.
Wednesday, October 03 2012 @ 09:36 AM CDT
Contributed by: News
I did this article because I have seen lots of websites including Russia Today claiming our government seized $80 million in gold coins from Israel Switt a Philadelphia jeweler family under Executive Order 6102! This is not true, in a nut shell the 1933 Double Eagle gold coins that had never been circulated by the U.S. Treasury. So Israel Switt stole the coins and the government took the family to court to prove it and won the case.On July 20, 2011, a federal court jury ruled in favor of the government in its seizure of ten 1933 Double Eagle gold coins that had never been circulated by the U.S. Treasury. The coins had been in the possession of the family of Israel Switt.
In 2004, Joan Langbord, the daughter of Israel Switt, gave the coins to the U.S. Mint. Once the coins were authenticated, the United States government seized the coins as stolen government property. The jury de-termined that the coins were indeed the proceeds of a crime,
whether theft or embezzlement, and that the coins could be forfeited to the United States.
Switt, a Philadelphia jeweler, was the prime suspect of a 1944 United States Secret Service investigation into the theft of an unknown number of Double Eagles (Alexander Hamilton nicknamed the $10 gold piece an Eagle.‖ A $20 gold piece, twice an Eagle,‖ became a Double Eagle. The statute of limitations ran before charges could be lev-ied.
The final disposition of the fate of the Double Ea-gles is pending a determination by U.S. District Court Judge Legrome D. Davis concerning title to the coins, each of which is valued in the millions of dollars. Download the official government and court documents. The government was represented by Assistant United States Attorneys Jacqueline C. Romero and Nancy Rue.
Download the official government and court documents.
The government was represented by Assistant United States Attorneys Jacqueline C. Romero and Nancy Rue.