Coin dealer's heirs await ruling
Frank Galikanokus
http://articles.philly.com/2011-07-08/news/29750795_1_israel-switt-gold-coins-barry-h-berke
"Israel Switt, long deceased but once considered a "patriarch" of
Philadelphia's Jewelers Row"
JAM
sgt23
wrote:
> http://articles.philly.com/2011-07-08/news/29750795_1_israel-switt-go...
>
> "Israel Switt, long deceased but once considered a "patriarch" of
> Philadelphia's Jewelers Row"
>
> JAM
I'd hate to see what would happen to the hobby of numismatics if
government wins this case. We could possibly lose a lot of our rights
as collects and be limit too what we can collect. Although it will be
years before we find out how this will effect our hobby since this
will probably be tied up in court for that long.
sgt23
Sorry collects was suppose too be spelled collectors.
Phil DeMayo
I don't think anybody in the hobby purchased and then sold coins that
were illegally removed from the Mint and then lied to the Secret
Service, telling them that he didn't have any more. His family should
not profit.
All of the double eagles that he sold were recovered by the Government
including one that was returned after the government won a Court case.
Phil DeMayo
That's the only thing you found wrong with that sentence?
Your apology wasn't much better.
howard
"statute of limitations" may be invoked?
Is your/my/ours all omnipotent government above the law......oops dumb
thought, I should have known the answer!
h
Jud
dollars. I am sure that he, for one, doesn't want all these extra
copies coming out on to the market. Nice to have the only one in
private hands, and not have the value diluted by the Switt examples.
Richard L. Hall
"Phil DeMayo" <flip...@aol.com> wrote in message
news:903a6bc0-b468-404f...@w24g2000yqw.googlegroups.com...
On Jul 11, 1:28 am, sgt23 <bravesfandevo...@yahoo.com> wrote:
> On Jul 10, 10:37 am, Frank Galikanokus <FrankGalikano...@nospam.net>
> wrote:
>
> >http://articles.philly.com/2011-07-08/news/29750795_1_israel-switt-go...
>
> > "Israel Switt, long deceased but once considered a "patriarch" of
> > Philadelphia's Jewelers Row"
>
> > JAM
>
> I'd hate to see what would happen to the hobby of numismatics if
> government wins this case. We could possibly lose a lot of our rights
> as collects and be limit too what we can collect. Although it will be
> years before we find out how this will effect our hobby since this
> will probably be tied up in court for that long.
I don't think anybody in the hobby purchased and then sold coins that
were illegally removed from the Mint
=====
Almost all of the early pattern coins as well as the 1913 nickels would fall
into that category. And how do you know that he didn't acquire these by
swapping some other twenties for them? It was a fairly standard practice at
the mint on the first day of minting a new issue. Swit was a Philadelphia
dealer so he could have been at the mint when the coins were struck and
swapped 20 old gold coins for 20 new ones. That isn't difficult for me to
believe. It is difficult for me to believe that more than a pound of gold
coins would be missing and no one would notice.
=====
and then lied to the Secret
Service, telling them that he didn't have any more.
====
How do you know he didn't acquire these later? IIRC, he said he didn't
remember how he acquired the ones he sold.
====
His family should
not profit.
All of the double eagles that he sold were recovered by the Government
including one that was returned after the government won a Court case.
===
And the government had such a powerful case that they gave up half the
profits. I wouldn't call that a slam dunk win.
===
--
Richard
http://www.richlh.com
Don't lament that the rose bush has thorns. Rejoice that the thornbush has
roses.
[Ancient
Egyptian Saying]
Reid Goldsborough
> I'd hate to see what would happen to the hobby of numismatics if
> government wins this case. We could possibly lose a lot of our rights
> as collects and be limit too what we can collect. Although it will be
> years before we find out how this will effect our hobby since this
> will probably be tied up in court for that long.
This is not going to affect numismatics in one iota. As others said, it
will affect Switt's heirs and the owner of the other 1933 Saint, but
nobody else.
If anybody thinks Switt didn't know how he acquired these Saints and
believes what he said about not remembering, you no doubt believe the TV
ads for the "rare" clad copies of Buffalo dollars and such. Switt was
very well connected, knowing people inside the Mint.
Further, such subterfuge has long been an integral part of the high-end
collectable coin trade. Virtually all of the most expensive U.S. coins
are associated with illegality or probable illegality: 1933 Saint, 1804
dollar (Class II and III), 1913 Liberty Head nickels, 1885 Trade
dollars, others.
And if you think there are no 1964-D Peace dollars and 1974 aluminum
cents in private hands, having "slipped" out of the Mint, you should
probably think again. I have one specimen of each of them right here.
Not. But it's nearly certain that others do, though nobody of course is
talking openly about this because they too would be seized by the
government. I have no proof of this, just a fair amount of assurance
based upon talking to a number of people and precedent.
--
Consumer: http://rg.ancients.info/guide
Connoisseur: http://rg.ancients.info/glom
Counterfeit: http://rg.ancients.info/bogos
Phil DeMayo
wrote:
> "Phil DeMayo" <flip1...@aol.com> wrote in message
>
> All of the double eagles that he sold were recovered by the Government
> including one that was returned after the government won a Court case.
>
> ===
> And the government had such a powerful case that they gave up half the
> profits. I wouldn't call that a slam dunk win.
> ===
That was the Farouk coin....not the one to which I was referring.
Switt gave the Secret Service a list of people to whom he had sold
1933 double eagles (telling them that these were the only ones he
had)....it might have been about 10 people, I'd have to check to be
sure.
All surrendered the coins except for one individual who decided to go
to court....and lost.
Jerry Dennis
wrote, in part:
> And if you think there are no 1964-D Peace dollars and 1974
> aluminum cents in private hands, having "slipped" out of the Mint,
> you should probably think again.
A 1974 aluminum cent was slabbed by ICG in 2005 (AU-58, if anyone's
interested). Checking with various articles on Google, there are an
estimated 12 or so aluminum cents still floating around. And it
appears the Secret Service isn't interested in getting them back,
either.
Jerry
sgt23
My fear is that they would try too say well we were able too take
this, why not try taking this, this and etc.