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Any Chance The Langboard's will win their in case?

Started by EleMint Man,

46 posts in this topic

EleMint Man

EleMint Man

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10 minutes ago, thebeav said:

I wish......

They should get some compensation for alerting the Gov imo. And what's the Gov gonna do with them? For decades they hounded the globe trying to find a minute amount of gold. Baffling...1917-25C-Type-1-Full-Head-Standing-Liberty-Quarter-MS64-GEM

I think this is more attractive, Lol!

 

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EleMint Man

EleMint Man

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55 minutes ago, thebeav said:

I wish......

 

1 hour ago, Mr.Mcknowitall said:

No.

Probably.  

 BTW Germany retrieved their gold reserves from Paris.

https://www.pcgs.com/news/1933-20-st-gaudens-sets-new-world-record-price-of

https://qz.com/1060645/germany-has-pulled-all-of-its-gold-out-of-paris/?utm_source=kwfbus&kwp_0=515222

 

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physics-fan3.14

physics-fan3.14

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1 hour ago, RWB said:

Maybe the coins will get a presidential pardon - like that crooked Arizona sheriff.  The coins did no wrong.

Hoo boy, liberal bias much? That Arizona sheriff is beyond the scope of discussion here. 

The over-reach of government in declaring gold illegal in 1933 and then seizing these pieces illegally is the discussion here. The Langboards were id10ts for turning them in; the government was criminal for keeping them. Unfortunately, appealing to the government that the government is bad is really not going to get these poor fools anywhere. 

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Mr.Mcknowitall

Mr.Mcknowitall

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My opinion is the decision was correct. The opinion that the  original government declaration was illegal is a very ambitious conclusion given the circumstances that caused the declaration.

I don't think there were any poor fools involved in this story, or that the government was (and by association, is) illegal. As emotionally catastrophic as the issue has been interpreted by some in the hobby, it is not the end of numismatics. 

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BillJones

BillJones

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On 9/8/2017 at 9:15 AM, EleMint Man said:

They should get some compensation for alerting the Gov imo. And what's the Gov gonna do with them? For decades they hounded the globe trying to find a minute amount of gold. Baffling...1917-25C-Type-1-Full-Head-Standing-Liberty-Quarter-MS64-GEM

I think this is more attractive, Lol!

 

What is the government going to do with them? Cart them around to big coin conventions at the taxpayers' expense to show off them to collectors, there by "doing us a favor." The government might as well melt them into gold bars. That's what FDR wanted in the first place.

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BillJones

BillJones

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3 hours ago, Conder101 said:

I'm sure the guy that owns the one legal one would approve of that idea, lest the government change their mind some day and decide to sell them off.

That will never happen. There is not enough money in it for the government, and such an action could open up the Longboard case again.

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RWB

RWB

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Facts have no bias - they simply exist.

The President can issue a pardon to anyone or anything for any act or judicial conviction.

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Conder101

Conder101

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I don't believe the President can issue a pardon for state violations, just federal.  I could be wrong though, I've never needed to check into getting a presidential pardon.

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EleMint Man

EleMint Man

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On 9/13/2017 at 0:06 PM, RWB said:

Facts have no bias - they simply exist.

The President can issue a pardon to anyone or anything for any act or judicial conviction.

Integral the Presidency is respected. 

https://en.wikipedia.org/wiki/Gold_Reserve_Act

 

This may lead to more questions than answers.  

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ldhair

ldhair

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I would love to know the total cost for both sides at this point. A lot of folks got paid to fight this out. I wish a deal could have been made early on. The way it is, the coins will just be old history. Few will ever see them. I wish they all could be put on the market. 

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Conder101

Conder101

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It may not be as much as you might think.  The government judges and lawyers and other government workers are probably on salary and get paid anyway so the case doesn't cost extra on that side,  On the plaintiff's side the lawyer is getting a lot of free publicity and was quite possibly also working on contingency (win the case get one of the coins maybe).  There are expenses on the plaintiff side for research, expert witnesses and other various expenses. so most of the extra cost was probably on the plaintiff side but how they divided those expenses I don't know.

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jtryka

jtryka

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I'm not a lawyer, but Article I, Section 8 of the US Constitution says pretty explicitly that "The Congress shall have the power...To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;" so I'm not sure how FDR got the power to unilaterally withdraw all gold coinage and then subsequently change the value of said coinage by ~70%, perhaps one of you who believe that executive order 6102 was lawful could explain that...

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Mr.Mcknowitall

Mr.Mcknowitall

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34 minutes ago, jtryka said:

I'm not a lawyer, but Article I, Section 8 of the US Constitution says pretty explicitly that "The Congress shall have the power...To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;" so I'm not sure how FDR got the power to unilaterally withdraw all gold coinage and then subsequently change the value of said coinage by ~70%, perhaps one of you who believe that executive order 6102 was lawful could explain that...

The President did not coin money, did not regulate the value thereof (domestic or foreign), or fix the Standards of Weights and Measures.

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BillJones

BillJones

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16 minutes ago, Mr.Mcknowitall said:

The President did not coin money, did not regulate the value thereof (domestic or foreign), or fix the Standards of Weights and Measures.

 

23 minutes ago, Mr.Mcknowitall said:

I'm not a lawyer, but Article I, Section 8 of the US Constitution says pretty explicitly that "The Congress shall have the power...To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;" so I'm not sure how FDR got the power to unilaterally withdraw all gold coinage and then subsequently change the value of said coinage by ~70%, perhaps one of you who believe that executive order 6102 was lawful could explain that...

The Gold Surrender Order was issued during the depths of The Great Depression, and the entire country, including FDR were desperate to find a solution it. FDR said that he was willing to try most any proposal. If it worked, great; if it didn’t, chuck it and try another idea.

 

FDR had huge majorities in the House and Senate. The GOP had almost ceased to exist, and whatever FDR wanted, he got. Therefore he was given the power to take the country off the gold standard in a de facto manner.

 

One of the benefits was a cheaper dollar, pegged at the over the market rate of $35 an ounce. That was one of the reason why he called in the gold coinage. FDR did not want anyone to make windfall profits from the artificial increase in the price of gold. The devalued dollar made American exports cheaper which, it was hoped would increase aggregate demand and boost the economy.

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jtryka

jtryka

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1 hour ago, Mr.Mcknowitall said:

The President did not coin money, did not regulate the value thereof (domestic or foreign), or fix the Standards of Weights and Measures.

How is changing the value of the dollar from 1/20.67 oz of gold to 1/35 ounce of gold not "regulating the value" of money?

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Nutmeg Coin

Nutmeg Coin

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I don't think a President has ever been able to change the results of a court case like this, plus it is not a priority and he would gain limited political capital, and he is not on very thick ice at this point.  

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