09/07/2012 // West Palm Beach , Florida, US // JusticeNewsFlash // Justice News Flash // (press release)
U.S. – A judge has determined that ten rare gold coins valued at $80 million are the property of the U.S. government and not the plaintiffs accusing the U.S. Treasury of illegally confiscating them. As reported by Good Morning America, the judge ruled against a family that sued the U.S. Treasury claiming the coins had been seized unlawfully after being taken to a mint for authentification.
The 1933 Saint-Gaudens double eagle coins were purportedly found by the family of Israel Switt, who was a local coin dealer who had obtained them after the U.S. abandoned the gold standard under the order of President Theodore Roosevelt. The coins were found by Switt’s family in 2003 in a safety deposit box.
A jury declared the coins the property of the U.S. in 2011 prior to last week’s ruling by Judge Legrome Davis of the Eastern District Court of Pennsylvania, who cited the coins had been unlawfully removed from the United States Mint.
Barry Berke, an attorney for the family, is quoted in the report as stating to ABCNews.com, “This is a case that raises many novel legal questions, including the limits on the government’s power to confiscate property. The Langbord family will be filing an appeal and looks forward to addressing these important issues before the 3rd Circuit.”
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