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Gold coin dealer Arthur Blumenthal on the government’s efforts to take back 1933 Double-Eagle gold coins from a family in Philadelphia.
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Alright debt in Europe a debt troubles in Europe is steering investors towards -- gold.
Closer to home though one story has really captured our view -- attention.
Those golden eagle coins that one family is now suing the government to get back.
It joined the company now is gold going to get -- off that Blumenthal Blumenthal and company.
All right I wanna start with these golden Eagles I'm told -- -- eight million dollars each and you know something about this country.
Yes I don't they were always an option president the one calling that did escape.
The government back in the thirties and you follow the timeline and it was surfaced in Europe and in 1996.
A British point deal -- -- Fenton.
What it over here and the -- what fees the by the Secret Service.
Be fined for what it.
And actually.
Won the case and the coin was auctioned by Sotheby's -- in 2002.
I was that the -- the hammer away six point six million.
Plus the buyer's premium and once the government monetize the coin they made him pay an additional the buyout.
An additional twenty dollars so with the buyer's premium the actual he paid seven point 59.
Million plus twenty dollars.
At a discount to historical background here these of the American golden eagle 1933.
Only Israel right which -- beyond said you can't hold them you -- -- -- general -- you can't hold them.
I'm gonna take them all in a melting down -- some that's -- yes sir notably to King Farouk of Egypt.
Who walked away with a -- and and how -- -- got.
And it was one of those king Farouk golden Eagles that surfaced in 1996.
A -- for nearly eight million dollars already -- correct.
Now you've got these other ones -- just been found the good government is suing to take them off the people who found them.
All they also what eight million dollars -- not yet but -- it was a moment that.
They could be worth more they could be worth less line because now from the one now this family from Philadelphia.
Do they have them legally what do they not have -- legally the government's.
The government's.
Concern is these were never monetized.
So right now they just round pieces of gold with 1933 on them.
So that now the question apparently had the items.
Whether you got them legally or illegally they are they -- the government is feeds them because they're not supposed to be in private hands.
-- you guessed -- famed lawyer refusing from the 1996 case is arguing the case for this family.
It's the trial is just started.
And we'll see what happens.
I it I and -- not get why they weren't for the seven half million dollars UK before that this before these these.
Eight or ten therapist I kind of agree with -- fact that they -- they're still -- -- twenty dollar points but this is -- and look like they collectively.
These right on the collectible more apparent you have a collector of -- and you have to.
And I can beacon and if the -- one and of course the history of FDR.
Seizing the goal that are there's a lesson in this that we should all start collecting our gold -- for the future well I think leading seller of but.
Look at whatever and what investment has doubled and tripled in the -- four year.
And the most important thing to me is from me -- these two old people from an all walks of life.
No -- -- anything back and from this meteoric rise in gold from 35215100.
If a lot of profit in them.
No one seemed to be taking it are still seem to be accumulating off the blue with old gold Cella extraordinary ladies and gentlemen thanks -- also good to see you -- -- will follow this trial by the -- this -- thank you.
