| The Long Lost Double Eagles |
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| Written by Kathryn Smith |
| Sunday, 02 May 2010 12:20 |
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A new found treasure has raised many questions on whether it was stolen many years ago or not. A safe deposit box that was lying around the house of an American family was discovered to be a long lost treasure. It seems that their grandfather, a jeweler form Philadelphia managed to put aside 9 Double Eagle gold coins.
A new found treasure has raised many questions on whether it was stolen many years ago or not. A safe deposit box that was lying around the house of an American family was discovered to be a long lost treasure. It seems that their grandfather, a jeweler form Philadelphia managed to put aside 9 Double Eagle gold coins. The Double Eagle Coins are so valuable because they were minted in 1933. The coins that were minted in that year were never officially released by the government. Because of this, very few of them managed to make their way out of the federal vault. Only one other Double Eagle coin was sold in the world at an auction for the staggering amount of 7.6 million dollars. The family took the coins to the United States Mint in order to be authenticated in 2004 but they had no clue what they were about to trigger. The Mint told them that the coins are genuine and then refused to give them back. What they claimed was that the grandfather had stolen the coins from the Mint back in 1930s. After hearing the unpleasant news the family decided to go to court and there they have actually won an important ruling. The judge that presided the case ruled that they should be given the Double Eagles back or the Mint should come with hard evidence that the coins were stolen. In 1933 almost half-million Double Eagles were minted before Franklin Roosevelt decided to ban owning large amounts of gold coins or gold bullion. The vast majority of these coins ended up being melted and only two of them made their way in the Smithsonian Institution. Apparently these were not the only ones that escaped the meltdown. The police are now investigating in order to see if the coins were indeed stolen or whether the old Philadelphia jeweler was their legal owner. Investing in gold or purchasing gold coins is no longer an issue these days. Economists advise us to diversify our portfolio and start investing in the precious metal. DISCLAIMER: This article is provided as information only and is not to be taken as financial advice. Learn from professionals how to buy gold bullion in times of recession. |