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Official Langbord Trial Update Thread
SanctionII
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CaptHenway posted a reply to an earlier Langbord thread and suggested that someone start an "Official Langbord Trial Update Thread".
An excellent suggestion.
So I will take the plunge and start this thread. Consider this an invitation for anyone on the forums who obtains information about what is happening at the trial to post about it in this thread.
An excellent suggestion.
So I will take the plunge and start this thread. Consider this an invitation for anyone on the forums who obtains information about what is happening at the trial to post about it in this thread.
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Take Care, Dave
TD
http://news.yahoo.com/blogs/lookout/family-fights-government-over-rare-double-eagle-gold-151853030.html
At the bottom of this article is a site for a listing of the 10 best possible finds from today's pocket change-interesting.
<< <i>I don't know if it qualifies as an "update" or not, but this summary article appeared on my yahoo home page.
http://news.yahoo.com/blogs/lookout/family-fights-government-over-rare-double-eagle-gold-151853030.html
At the bottom of this article is a site for a listing of the 10 best possible finds from today's pocket change-interesting. >>
Linkified!
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BONGO HURTLES ALONG THE RAIN SODDEN HIGHWAY OF LIFE ON UNDERINFLATED BALD RETREAD TIRES
Cheers!
Kirk
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BONGO HURTLES ALONG THE RAIN SODDEN HIGHWAY OF LIFE ON UNDERINFLATED BALD RETREAD TIRES
By MARYCLAIRE DALE
Associated Press
PHILADELPHIA (AP) - A federal jury in Pennsylvania began hearing a tale Thursday that has long fascinated coin collectors: how a Philadelphia family ended up with a stash of exquisitely rare $20 gold coins from 1933 that the U.S. Mint never circulated.
The 10 coins could bring $80 million or more at auction. But it's not clear that day will ever come.
Federal attorneys told the jury in opening statements that the coins belong to the United States because they were never legally released by the U.S. Mint in the 1930s.
But descendants of the late Philadelphia jeweler Israel Switt say the government can't prove they were stolen. Switt, who dealt in scrap gold, might have legally traded for them in his regular dealings with the Mint, their lawyers said.
U.S. District Judge Legrome Davis promised jurors selected for the trial that the case would be more fascinating than anything they see on TV, a case replete with history about the gold standard, the Depression, and decades of sleuthing over the rare 1933 Saint-Gaudens "double eagles." The trial is expected to last two to three weeks.
"The government must prove that these coins were stolen three-quarters of a century ago," lawyer Barry Berke, who represents Switt's daughter and grandsons, told the jury.
"They have a theory as to how the coins may have left," he said. "A theory is not good enough to take a citizen's property."
Nearly a half million of the double eagles were struck in Philadelphia in 1933, but then melted into gold bars when President Franklin D. Roosevelt took the country off the gold standard. A few mysteriously survived.
Switt was twice investigated for illegally possessing gold coins in the 1930s and 1940s. He surrendered many of the coins, but was never prosecuted because the statute of limitations had run out, Assistant U.S. Attorney Jacqueline Romero said.
Switt's daughter, Joan Langbord, contacted the government in 2004 to say she had found the coins in a bank deposit box a year earlier. She asked the Treasury Department to authenticate them. The government instead seized them, but the federal judge later ordered officials to defend the forfeiture at trial. The coins are being kept at Fort Knox.
The government argues that the safety box was not rented until six years after Switt died in 1990. Government lawyers say that 10 other "double eagles" that surfaced in the 20th century can all be traced to Switt. Prosecutors believe Switt and a corrupt cashier at the Mint had a hand in the breach.
"(This is) a crime the government has been waiting to put to rest for 70 years," Romero said in opening statements. "The government simply wants its coins back."
Langbord, now in her 80s, has worked in her father's jewelry store a few blocks from the Mint nearly all her life. The other plaintiffs are her sons, entertainment lawyer Roy Langbord of New York City and David Langbord of Virginia Beach, Va.
A single 1933 double eagle, designed by famed sculptor August Saint-Gaudens, sold at auction in 2002 for $7.59 million, then a record for a coin. The coin had once been owned by King Farouk of Egypt after the U.S. government agreed it could be shipped overseas.
Romero called the 1944 shipment a bureaucratic mistake that prompted the government to allow its later owner, a London coin dealer jailed when he brought it to the U.S. in 1996, to sell it. The dealer and the U.S. government split the proceeds in a deal negotiated by Berke.
The Langbords had opened their deposit box the day before the London dealer's Farouk coin was seized in 1996, Romero said. The family later offered a similar 50-50 split with the U.S. to settle the case, but the government rejected it on grounds the family cannot legitimize their ownership of the coins, given Switt's history.
Switt had told Secret Service agents in 1944 that he had possessed and sold nine 1933 double eagles, despite the ban on owning most gold coins after January 1934. All nine were tracked down by the government and destroyed between 1944 and 1952. The Farouk coin is believed to be the tenth from that stash.
The Mint sent a pair of 1933 double eagles to the Smithsonian Institution for its U.S. coin collection.
(Copyright 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
Tom
<< <i>The trial is expected to last two to three weeks. >>
I hope RWB is ready
Apparently a jury has been selected and opening statements were made to the jury today by the attorneys.
I suspect that this trial (given the subject matter and the different facets of same, all of which have appeal to a wide range of the population) will be reported on by not only the hobby press, but by the financial press and the popular press.
Does anyone know anything about the composition of the jury [how many (6, 8, or 12, plus alternates), how many males, how many females, age range, etc.]?
The trial should be very entertaining, educational and interesting to follow.
There is some info in the AP article that I was not aware of.
"The government argues that the safety box was not rented until six years after Switt died in 1990."
and
"The Langbords had opened their deposit box the day before the London dealer's Farouk coin was seized in 1996, Romero said. The family later offered a similar 50-50 split with the U.S. to settle the case, but the government rejected it on grounds the family cannot legitimize their ownership of the coins, given Switt's history."
Very interesting.
I can't wait to follow this case. I'm especially looking forward to seeing how RWB's testimony comes across.
John
Tomorrow the government will call david tripp as an expert witness. He will probably be on the witness stand on direct examination all day and return on monday for cross examination. His cross examination will be a high point in the trial.
>>>My Collection
Coin Rarities Online
<< <i>The jury is made up of two men and eight women.
Tomorrow the government will call david tripp as an expert witness. He will probably be on the witness stand on direct examination all day and return on monday for cross examination. His cross examination will be a high point in the trial. >>
I was hoping there'd be a lot of older geeky men who all have hobbies.
Tom
<< <i>I was hoping there'd be a lot of older geeky men who all have hobbies.
They would have been immediately kicked out of the jury pool, most likely, *especially* if any of them dabbled in coins.
Day 1 in the Langbord 1933 Double Eagle trial: Jury seated, 8 women, 2 men: Government & Langbords presented opening arguments. #coinworld
Jury seated and opening statements completed in Philadelphia 1933 #gold $20 double eagle trial - #coinworld - http://ow.ly/5zLNV
<< <i>
<< <i>The jury is made up of two men and eight women.
Tomorrow the government will call david tripp as an expert witness. He will probably be on the witness stand on direct examination all day and return on monday for cross examination. His cross examination will be a high point in the trial. >>
I was hoping there'd be a lot of older geeky men who all have hobbies.
I think many of us resemble that remark........
<< <i>
<< <i>
<< <i>The jury is made up of two men and eight women.
Tomorrow the government will call david tripp as an expert witness. He will probably be on the witness stand on direct examination all day and return on monday for cross examination. His cross examination will be a high point in the trial. >>
I was hoping there'd be a lot of older geeky men who all have hobbies.
I think many of us resemble that remark........ >>
I meant to say "...in the jury".
<< <i>Finally..... progress. Sure wish I lived closer.... Cheers, RickO >>
I live 5 miles from the courthouse but my boss does not consider my attending the trial as a life and death emergency. Told him history is being made as we speak.
If you haven't already read Alison Frankel's "Double Eagle" it's a great read on how this case got to where it is today from the standpoint of the last $20 DE that almost went to trial.
Same thing for all of the other expert and non expert witnesses.
There has been discussion of having video cameras in court rooms over the years. I think this is a case where it could be very interesting.
<< <i>Can we get this thread pinned to the top? >>
This thread will pretty much pin itself TTT!
Will be interesting to see who has to appeal.
I was going to ask you to post biographies of the expert witnesses on each side, but recall there was once a post that included some of that info, so thought I'd recap here; I also utilized Google for some info, hoping I got the right guys.
For the Government: 3 expert witnesses
1. David Tripp - David Tripp is a numismatic and fine art consultant, writer, and cartoonist. He has degrees in classical archaeology, was an actor, photographer, and formerly the director of Sotheby's coin, tapestry, and musical instrument departments. He is married and lives in Columbia County, New York. Author of Illegal Tender.
2. Eric Rauchway - Rauchway is a history professor at UC Davis and an author who wrote a book titled, "The Great Depression and the New Deal" He's apparently knowledgeable about what FDR did from the moment he accepted the nomination for President in 1932; and
3. Wayne Geisser - Geisser is a Philadelphia CPA who has worked for the Internal Revenue Service and the U.S. Securities and Exchange Commission. He is a member of the Association of Certified Fraud Examiners, the American Arbitration Association Panel of Arbitrators, and the National Association of Certified Valuation Analysts.
For the Langbords: 3 expert witnesses
1. Johnathon Alter - Historian; Jonathan Alter is a senior editor and columnist at Newsweek and a contributing correspondent at NBC News. His book, "The Defining Moment: Franklin Roosevelt and the First Hundred Days" was published in 2006.
2. Joseph Nelson - Forensic Accountant; Joseph B. Nelson, CPA is a partner and Co-Director of Berdon LLP’s Litigation and Business Valuation Group. He brings deep experience in complex damage analyses, insurance defense litigation, and commercial disputes extending over a 30-year career. Mr. Nelson works with prominent local, national, and international law firms, corporations, and insurance companies representing clients across a diverse spectrum of business sectors, among them real estate, healthcare, restaurants, insurance, banking, intellectual property, manufacturing, energy, and the service sector, (HOPEFULLY THAT'S THE RIGHT GUY), and
3. Roger Burdette (formerly our own RWB) - Numismatic researcher - Mr. Burdette is the author of two critically acclaimed numismatic research books: Renaissance of American Coinage 1905-1908, [edit] Renaissance of American Coinage 1909-1915, and Renaissance of American Coinage 1916-1921. Both books cover the origin, design and initial production of our nation's most beautiful coinage. He has also written numerous articles for Coin World magazine and The Numismatist, and is a contributor to the Guide Book of United States Coins, plus Whitman publications on double eagles, nickels, type coins, silver dollars and others. A life-long numismatist Mr. Burdette holds a Bachelors of Science degree and a Masters of Science degree, both in Education, from the University of Maryland.
Two minor quibbles.....he is STILL our beloved RWB, even if in exile, and you forgot his 1909-1915 Renaissance book.
TD
A little additional info on RWB that was left out. I posted most of this in another thread -
RWB has said that he might write a bit about the case for inclusion in his book that is almost done. He has been working on it for over 4 years now. He is also the author of a book on Peace Dollars which spans the same time frame as 1933.
His next book table of contents is below in case you are interested. The book will be out early next year I think.
A quote from RWB - "The book covers the period roughly from 1929 through 1946. Most content is either new research, or highly updated and expanded from what has been published before. As with the Renaissance series (1905-1921), a lot of numismyths get trampled on the editing room floor."
This goes to show that he has done a TON of research that covers the early 1900s.
Looking for Top Pop Mercury Dime Varieties & High Grade Mercury Dime Toners.
Looking for Top Pop Mercury Dime Varieties & High Grade Mercury Dime Toners.
Wish the trial was being televised.
But only if there were no "Talking Heads" and/or TV Journalists (aka Nancy Grace, Geraldo Rivera, etc.) droning and prattling on and on about the case, the trial and who is winning/losing.
The federal trial that will decide whether the Langbord family or the government owns 10 1933 Saint-Gaudens gold $20 double eagles began July 7 in U.S. District Court in Philadelphia.
The potential jurors filed into the courtroom at 1:50 p.m. and Judge Legrome D. Davis questioned the jurors about their jobs, their ability to be impartial, and their association with coin collecting, history and accounting. Of the 19 people questioned, 10 were chosen — eight women and two men.
Judge Davis informed the jury that the press would be covering the trial and told jurors they were not to discuss the case with anyone or consult outside media sources on the case. He also informed the jury that because the events happened long ago, that there would not be a lot of direct evidence, so the jury would be dealing with circumstantial evidence.
The prosecution began its opening argument by stating that the 10 1933 double eagles were stolen from the Mint in the 1930s, and that the government is the rightful owner of the coins. The prosecution referred to Israel Switt’s prior 1934 arrest for carrying gold and said that Switt had been traced to prior 1933 double eagles that had been confiscated, concluding its argument by stressing that the coins need to be return to the rightful owners — the people of the United States.
Switt is the father and grandfather of the three individuals who filed suit against the government over ownership of the coins.
The defense followed with its opening argument, starting with a story about John Hanco** and how the British wrongfully seized one of his ships, making the point that the United States differs from Britain in that the U.S. government cannot seize property unless it can prove that it is entitled to it; that power and size alone does not make the taking of property by the government lawful; and that the government must prove that the 10 coins were stolen in the 1930s.
Barry Berke, the attorney for Joan Switt Langbord and her two sons, compared the government’s key points to a three-legged stool with three weak legs. Those legs are:
(1) When Franklin Roosevelt declared that gold had to be turned in that no more gold coins went out from the Mint.
(2) That Mint personnel during the period followed appropriate procedures.
(3) That Mint records are reliable, accurate and complete.
Berke concluded by telling the members of the jury that they are a safeguard against the government’s taking of citizens’ property.
The coins were allegedly discovered in 2003 by Joan Langbord, the daughter of Philadelphia coin dealer Israel Switt. The coins were transferred to the U.S. Mint for authentication in September 2004 and the Langbords sued the government for the return of the coins in December 2006.
EDIT - DOH...so much for making my 1,000th post something profound...I'd better get on that.
The Langbord's had 10 1933 double eagles magically appear in safe deposit box that was opened six years after Izzy put them in there, and...
Izzy testified under oath (assumption here) in his prior trials that no more existed. So he obtained these after his prior trials, directly from a cashier at the mint, after they had been melted.
Do I have that right?
<< <i>Sanction, thanks for your unwaivering dedication to this subject. I sure do appreciate your effort.
Ditto!
Coin Rarities Online
Sanction, your analysis throughout the course of this litigation has been top notch. I try cases for a living and I thoroughly enjoyed your expert analysis. You clearly put a lot of time and effort into this. You gave timely reports and explained not only what was filed but the strategy behind the filings. Despite the quote above, I personally don't think your prior reporting on the case could have been any better! Thanks for all your efforts.
<< <i>Ok so far (I'll be the curmudgeon here):
The Langbord's had 10 1933 double eagles magically appear in safe deposit box that was opened six years after Izzy put them in there, and...
Izzy testified under oath (assumption here) in his prior trials that no more existed. So he obtained these after his prior trials, directly from a cashier at the mint, after they had been melted.
Do I have that right? >>
How do you make that assumption? Based on what?
NY Times Article on Langborn Case
Any facebook entries?
Any smoke signals or carrier pigeons?
Is anybody keeping an eye on the smokestack atop the Sistine Chapel??????
<< <i>Judge Davis [...] asked a potential juror whether the fact that her husband collected coins would influence her. Did she share his hobby?
“I don’t collect coins,” she said. “I spend them.”
She was seated. >>
Anyone know her or her husband?
<< <i>Ok so far (I'll be the curmudgeon here):
The Langbord's had 10 1933 double eagles magically appear in safe deposit box that was opened six years after Izzy put them in there, and...
Izzy testified under oath (assumption here) in his prior trials that no more existed. So he obtained these after his prior trials, directly from a cashier at the mint, after they had been melted.
Do I have that right? >>
You know for a fact that Izzy testified that there were no other DEs? He testified that no more than how many existed? The 10 he had? The 10 that were melted? If he had testified previously, do you think Barry Berke wouldn't have known that?
Quite the coincidence.
TD
<< <i>Also from NYT - Judge Davis stated flatly that some of the evidence could allow jurors to infer that the coins were stolen and that the family knew it and concealed them. >>
Supposing the jury is convinced the Langbords lied about when they knew they had possession of the coins, could they still award the coins to the Langbords?
It seems like lying doesn't necessarily mean they thought the coins were illegal, but it could possibly mean they thought the coins might be seized, illegally.
<< <i>From the NYT -- "He noted somewhat acerbically in a footnote that the safe deposit box in which Ms. Langbord “claims to have discovered” the coins had been opened by her in 2002, “the day before the Fenton coin was sold at auction.”
Quite the coincidence. >>
So what? Do you think she put coins in or took them out? Who originally rented the SDB and how many times was it accessed in the interim?
I would imagine the jury is going to be bored out of there mind mostly.....
All the legalisms in this case are way over most peoples head.....