There has been renewed interest in the $20 Saint Gaudens coins. The $20 Saint Gaudens is among the two twenty dollar gold coins issued from 1850 to 1933, the Liberty type being the other. This interest can be attributed to the highly publicized legal dispute between the Langbords and the US Government. The landmark case over ten 1933 $20 Saint Gaudens gold double eagles with its historic judgment will serve as a reference for future cases. The history of the case is fairly straightforward. Joan Langboard and her two sons, Roy and David, gave the coins to the US Mint in September 2004. Joan had allegedly got them from the family safe deposit box in 2003. Incidentally, she is the daughter of Israel Switt, the noted Philadelphia coin dealer.

The US Mint finally revealed that the coins were genuine in May 2005 but refused to return them to the Langbords. In December 2006, they were sued by the Langbords but the government filed forfeiture in November 2010, stating that the coins had been possessed unlawfully and belonged to the US Government. At the crux of the case lies a historical dilemma about the rightful ownership of these coins. While the government stated that the ten $20 Saint Gaudens were embezzled or stolen, the Langbords challenged the court by saying that there was a legitimate period of time when the coins could be obtained in the open market. They claimed that the ten coins were bought legitimately. The final verdict went in the favor of the US Government with the conclusion of the ten member jury’s unanimous decision. The government accused Israel Switt of having unlawfully acquiring the coins.

$20 Saint Gaudens: Contemporary Values

$20 Saint Gaudens is one of the world’s most rare and magnificent coins. It was designed by Augustus Saint-Gaudens, an influential American sculptor and a friend of American President Theodore Roosevelt. Both men were influenced by the high-relief coinage of ancient Greece and this translated into the design philosophy of the $20 Saint Gaudens. The initial coins produced were made with high-relief, but they were subsequently replaced with lower relief. During the Great Depression in 1933, President Roosevelt issued Executive Order 6260. This meant that all US gold coins were to be melted and converted into gold bullion. The only exceptions were collector’s coins.

Apart from the recent legal case, another reason why individuals are interested in gold coins is because they are deemed as safe havens by financial analysts. In fact on July 24, 2011, The Certified Acceptance Corp (CAC) offered to pay $20 million to the United States government for the ten 1933 Saint Gaudens. These are the same ten coins which were in the Langbords’ possession earlier. The offer could also be increased, John Albanese, the founder of the firm had said. The offer might seem extravagant to few but it must be noted that in 2002, a 1933 Saint Gauden was sold for $7.59 million. The coin in question was said to be in possession of Egypt’s King Farouk before it was auctioned off. “I’d hate to see them melted. That would be a mistake. These are an important part of our numismatic heritage, and they should be entrusted to people who value and respect our nation’s coinage tradition,” said Albanese speaking of the rare $20 Saint Gaudens.