1933 Rare Coin Found in Safety Deposit Box
March 22, 2010 - Inside box, opened in 2003, Roy Langbord found an incredibly rare coin, wrapped in a delicate paper sleeve. It was a gold $20 piece with Lady Liberty on one side, a bald eagle flying across the other side ,and to Liberty’s left was inscribed: 1933, the markings that made the coin so valuable..
The famous “double eagles” from that year were never officially released by the government. Only a precious few ever made it from the federal vaults. Only one “double eagle has ever been sold publicly and the price tag: $7.6 million.
And in Roy’s safety deposit box sat nine more rare "Double Eagles".
The government confiscated the rare coins in 2004, claiming that they are government property stolen from the Mint, most likely in the 1930s, by Mr. Langbord’s grandfather, Israel Switt, a Philadelphia jewelry dealer.
A United States District Court judge gave the government one month either to give back the coins or go back to court to prove that they were in fact stolen by Mr. Switt, not an easy task after three-quarters of a century.
Nearly a half-million 1933 double eagles were minted before President Franklin D. Roosevelt shifted the nation away from the gold standard, and issued an executive order making owning large amounts of gold bullion and coins illegal.
If you think you have found hidden treasure, or maybe want to bury some of your own, contact one of our rare coin experts, they will be more than happy to grade your coins or secure your next investment.
Shawn Penny
Senior Staff Writer - Rare-Coin.org
