| The Stolen Double Eagles |
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| Written by Kathryn Smith |
| Wednesday, 28 April 2010 12:50 |
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A new found treasure has created much controversy on whether it was stolen or not many years ago. An American family discovered that an old safety deposit box that was lying around the house was in fact a golden treasure. Their grandfather gave them the present of their lives as it seems that he managed to put aside 9 Double Eagle gold coins.
A new found treasure has created much controversy on whether it was stolen or not many years ago. An American family discovered that an old safety deposit box that was lying around the house was in fact a golden treasure. Their grandfather gave them the present of their lives as it seems that he 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 disturbing news the family decided to go to court, where they have actually won an important ruling. The judge that was handling the case decided that the family should be given the coins back or the Mint should prove with evidence that the Double Eagles 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 coins were ordered to be melted and just two of them were thought to have remained. Apparently these were not the only ones that escaped the meltdown. The police are now trying to trying to figure out whether 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. |