2016-08-16 Tue

The United States government won a year-long legal battle for taking into custody 10 rare 1933 gold coins. These Double Eagles were never released and was worth $20 in those days but today are the world’s rarest coins.

President Franklin D. Roosevelt had ordered to produce these coins to stabilize the U.S economy back then. In 1934 though all gold coins were melted down for the Federal Reserve. Two coins were kept at the Smithsonian Institution and are now at the National Museum of American History. Everyone though, did not obey the law. The Langbord family, have some of these rare coins which were given to them by Israel Switt, a Philadelphia jeweller. Switt was involved in the heist that removed several Double Eagles from the Mint in the 1930s.

One coin was sold to King Farouk of Egypt for $1,575 in 1944, which alerted the officials that some of the coins were stolen. Only after several years did the coins were up for sale again.

In 2002, the coin purchased by King Faurok was sold at an auction for $7 million. In 2003, Switt's daughter, Joan Langbord, discovered the 10 coins in a safe-deposit box. These coins were authenticated in 2004, but were confiscated by the U.S. Mint and the legal battle began.

The Langbord family is not giving up and would be approaching the U.S. Supreme Court to seek justice.