As the nation observes the 150th anniversary of the American Civil War’s end, explore how artists recorded events of the war, celebrated its heroes, and lamented its tragedies in our new gallery installation, “The Civil War in American Art.”
Gold is an evergreen investment appliance, especially against high inflation rates and economic problems; owing to its relative price stability and almost constant growth rate over time. Moreover allocating a segment of your portfolio to gold ensure miscellany of your assortment and a hedge against portfolio risks arising from price instability.
There are a number of ways; both are direct and indirect, to be had while investing in gold. Purchasing gold bullions include investing in licensed and homogenized gold coins and gold bars. Here one avails direct ownership of the yellow-metal. Jewelry is another very good way of investing in gold. From an investor’s perspective, for the one who wants portfolio growth, investing in gold jewelry is a quite expensive option. Jewelry items are often far more priced than underlying metal value. But in countries like India, investing in jewelry is very popular option. Another indirect way of investing is Gold Mutual Fund. This involves buying, holding and selling stocks of gold stocks – stocks of gold mining and trading companies. Investing in stocks of gold mining and exploring agencies is another way of investing which requires good trading and stock screening talents. Gold Accumulation Plans are accounts setup for investing a certain amount of money to buy gold every month. When the accounts are shut down; investors can own the gold in the form of bar or coin. The plus-point is that as fixed sum of money is assigned for each month, more gold can brought in price fall and less in price rise.
Gold Double Eagles, issued by the United States between 1849 and 1933 are $ 20 face value coins which are considered to be the largest denomination regular issue US coin. The term “double eagle” was conferred under the legislation from Congress, passed on March 3, 1849. $ 10 face value coins were already existent and were called “gold eagles.” Hence this new coin with twice the value and gold content was termed the “double eagle.”
The first ever double eagle was minted in 1850, a year after the California Gold Rush. The first double eagle produced is now displayed at the Smithsonian Institute in Washington, DC.
The Saint Gaudens series of gold coins was produced between 1907 and 1933. These coins found their name from the designer, Augustus Saint Gaudens. They share similar features as the prior series and were minted at the Philadelphia, Denver, and San Francisco Mints. The Saint Gaudens Double Eagle is considered to be the most beautiful U.S. coin. The same design is currently used on the American Gold Eagle Bullion Coins.
Feds Seizes Gold Coins Worth $80 Mln From Pennsylvania Family
July 6, 2015
A federal judge has stripped a Pennsylvania family of their grandfather’s $80 millions worth of gold coins and ordered ownership transferred to the US government.
RT – A federal judge has upheld a verdict that strips a Pennsylvania family of their grandfather’s gold coins — worth an estimated $80 million — and has ordered ownership transferred to the US government.
Judge Legrome Davis of the Eastern District Court of Pennsylvania affirmed a 2011 jury decision that a box of 1933 Saint-Gaudens double eagle coins discovered by the family of Israel Switt, a deceased dealer and collector, is the property of the United States.
In the midst of the Great Depression, then-President Franklin Roosevelt ordered that America’s supply of double eagles manufactured at the Philadelphia Mint be destroyed and melted into gold bars.
Of the 445,500 or so coins created, though, some managed to escape the kiln and ended up into the hands of collectors.
In 2003, Switt’s family opened a safe deposit back that their grandfather kept, revealing 10 coins among that turned out to be among the world’s most valuable collectables in the currency realm today.
Switt’s descendants, the Langbords, thought the coins had been gifted to their grandfather years earlier by Mint cashier George McCann and took the coins to the Mint to have their authenticity verified, but the government quickly took hold of the items and refused to relinquish the find to the family. The Langbords responded with a lawsuit that ended last year in a victory for the feds.
Because the government ordered the destruction of their entire supply of coins decades earlier, the court found that Switt’s family was illegally in possession of the stash.
Even though they may had been presented to the dealer by a Philadelphia Mint staffer, Judge Davis agrees with last year’s ruling that Mr. McCann broke the law.
“The coins in question were not lawfully removed from the United States Mint,” the judge rules.
Despite this decision, though, the attorney representing Switt’s family says the government has no right to remove their own items and transfer property back to the state.
“This is a case that raises many novel legal questions, including the limits on the government’s power to confiscate property.
The Langbord family will be filing an appeal and looks forward to addressing these important issues before the 3rd Circuit,” Barry Berke, an attorney for the Langbords, tells ABCNews.com