We are continuing our discussion of a case about rare double eagle $20 coins. The gold coins are now worth millions, and the U.S. government and the heirs of a coin dealer have been arguing about who owns 10 of them. The coin dealer's daughter says she found them squirreled away in a safe deposit box in 2003. The government essentially doesn't care.

If the coin dealer had the coins, the government says, he must have stolen them. They were never put into circulation.

The family says it's equally possible their father and grandfather simply turned up at the right bank at the right time. There must have been a bag that made it to a bank near the mint, and the coin dealer often went in to exchange coins for gold, a common practice at the time. The teller gave him the double eagles.

The government's evidence that every other double eagle coin could be traced to the same dealer apparently swayed the jury. They decided after a 10-day trial that the coins belonged to the government. The coins had been obtained illegally.

The government only became aware of the coins because the family asked to have them identified. When experts had determined the coins were genuine, the government refused to return them.

This may not be the last of the case. There are additional avenues of redress. And coin dealers may urge the family to pursue the matter. As one said, "The government can't just go around saying, 'You have this. We think it's ours. Give it back.'"

No, no. Of course they can't.

Sources:

New York Times, "Family Battles U.S. Over 10 Coins Worth Millions," John Schwartz, 07/08/2011

Wall Street Journal, "Family Loses Coins Worth Millions in Dispute With U.S.," Peter Loftus, 07/21/2011