From the September 7th Numismatic e-newsletter: Should the government melt the 10 confiscated 1933 gold $20s it has? Here are some answers sent from our e-newsletter readers to Editor Dave Harper.
Melt them, are we kidding? How about they tweak the laws and allow private ownership of these rare coins? Put them in a large auction, let each one go to a different collector for top price...Nobody gets hurt, The government in there exceptional wisdom and sensitivity to history and fiscal responsibility could use the money for much needed infrastructure projects, school remodeling projects, veteran programs and help to rebuild our cities steel mills and factories. Maybe a program could be put in place to help businesses which have relocated overseas, to entice them back, using our unemployed as labor and help to rebuild “our” economy!
I realize it’s not a lot of money on the grand scheme of things, but certainly money coming in and not going out, like they seem to have a problem with. Our government is way too top heavy and wasteful, put these coins in the hands of folks that would really appreciate them. If they cannot do that, donate them to 10 different coin related museums, so folks can see a real one in person. But really, change the laws and put them on the block!
I think the government should keep two or four in the Smithsonion and the others for sale, though maybe a lottery. That way it would give everyone a chance to own one.
The government should put these up for public auction. These coins have great history — why would we want to destroy that.
If they are melted down, the bullion should be given to the rightful owners, the family who has lost so much in trying to win back what was theirs to begin with!
They should sell them to pay off some of the government debt.
Are they crazy? Auction them off and use the proceeds to offset the budget deficit.
The Government should give the coins back. That being said, that won’t be happening apparently. So, they should melt them. If they don’t melt them then they should compensate the family. In no way should the government profit from found assets that they would never have were it not for this trusting family with no compensation.
They should be auctioned and the proceeds given to Disabled American Veterans, Inc.
Tom Horsman, M.D.
I suppose a case could be made that every single coin, pattern and experimental piece that ever came out of a U.S. Mint is the property of the government. What is the issue with the 1933 double eagle, and why is it still being discussed after almost 80 years?
Numismatic experts have presented compelling cases that this is a legally issued coin and back up their opinions convincingly. FDR’s gold order came in the spring of 1933. The double eagles were minted through May 1933. Why did the Mint strike coins that were illegal to own? Didn’t the Coinage Act of 1965 monetize everything, including the Trade dollar?
I like your idea of displaying these historical coins, but better yet, I like the idea of selling these coins to specialists and real numismatists who know these are genuine coins, real money and souvenirs of a turbulent time in the American economy.
Should the government melt the 10 confiscated 1933 gold $20s it has? They should auction all 10 of the “illegal” coins and from the proceeds, refund the $7.6 million dollars the legal owner of the first one paid (he gets to still keep his coin, though) and then one-third of the proceeds after the $7.6 million gets split three ways between the Farouk coin legal owner, the Switt relatives and the U.S. government.