What we do know for sure is that a Philadelphia area jeweler by the name of Israel Switt came into possession of at least 19 of the coins. The hopes of the Langbord family were finally dashed on April 17, 2017, when the United States Supreme Court announced its decision not to hear the family’s appeal in the case. or Best Offer. The key date and super-rare coins are not determined by their original mintage. The spectacular and controversial coin fell under the hammer on Tuesday, July 30, in New York City and obliterated the previous auction record of $4.14 million for a U.S. coin. A possible type set for the collector with deep pockets would be: the Ultra High Relief, Roman Numerals, Lettered Edge coin of 1907; the High Relief, Roman Numerals, Wire Rim coin, also 1907; the High Relief, Roman Numerals, Flat Rim coin, 1907; the Arabic Numerals, Low Relief no Motto coin, both 1907 and 1908; and the Arabic Numerals, Low Relief Motto coin, 1908 to 1933. Two weeks later, on the evening of January 12, 1905, acclaimed sculptor Augustus Saint-Gaudens was in the White House enjoying a glass of wine before dining with Roosevelt and Shaw. “IN GOD WE TRUST” had been left off the 1907 coins at the president’s insistence. Your suit is cold— WHY, other than ignorance and spite? There are only 16 to 22 of the Ultra High Relief coins of 1907. Your answer had not been inscrolled Of all coins produced by the US Mint prior to 1933, few are more popular the $20 Liberty Gold Double Eagle. She holds a torch in her right hand, which represents enlightenment, while in her left hand is an olive branch, the symbol of peace. This is a replica of a famous St. Gaudens $20 gold double eagle, or $20 piece. Virtually the entire mintage of 1933 double eagles would survive until 1937, when the government melted the majority of gold coins held in storage. Somehow, Philadelphia coin dealer Israel Switt had obtained those 10 coins and sold them to customers. Judge Thomas Hardiman, who wrote the majority opinion, said that the coins were always U.S. government property. But then the notorious coin disappeared for over 45 years. She said that the majority’s decision was based “mainly on its buy-in to the Government’s audacity—the Government’s say-so that it owned the 1933 Double Eagles and had no intention of forfeiting them.” She said that the Civil Asset Reform Act was developed in order to prevent government seizure of civilian property, writing that the majority had set an “incorrect and dangerous precedent.”, “The Langbord family fully intends to seek review by the Supreme Court,” Berke explained to Reuters in 2016, “of the important issue of the unbridled power of the government to take and keep a citizen’s property.”. According to Jeff Garrett, the truly rare With Motto (1908-1933) coins are the following: 1908, 1909-D, 1913, 1920-S, 1921, 1924-D, 1924-S, 1925-D, 1925-S, 1926-D, 1926-S, 1927-D, 1927-S, 1929, 1930-S, 1931, 1931-D, 1932, and 1933. She is a member of the American Numismatic Association. Minting of the 1933 Gold Double Eagles continued through May 1933, with a total of 445,500 coins struck. The discovery of these coins, however, was the beginning of a nightmare for the heirs of Israel Switt. In April 2017, the United States Supreme Court declined to hear the case which ended the legal battle and left the ten 1933 Double Eagles in the custody of the government. S 4 p o n s M A o G r T 7 Y Y W L e d. 1933 GOLD DOUBLE EAGLE REVERSE PROOF ARCHIVAL EDITION COIN PROOF VALUE $99.95. Langbord recalled that when he was finishing law school in New York in 1977, his grandfather asked him to go to Stack’s coin shop in Manhattan to ask what a 1933 Double Eagle was worth. 1924 $20 Saint Gaudens PCGS MS65 Certified ! 0 bids. They decided to seek legal counsel, ignoring his mother’s wishes. All persons are hereby required to deliver on or before May 1, 1933, to a Federal Reserve bank or a branch or agency thereof or to any member bank of the Federal Reserve System all gold coin, gold bullion, and gold certificates now owned by them or coming into their ownership on or before April 28, 1933, with the exception of the following: (a) Such amount of gold as may be required for legitimate and customary use in industry, profession or art within a reasonable time, including gold prior to refining and stocks of gold in reasonable amounts for the usual trade requirements of owners mining and refining such gold. However, King Farouk had legally exported his coin before the theft was discovered, and the Secret Service was unable to recover his specimen through diplomatic channels. It is not sovereign nor can it be considered sovereign according to the US Constitution therefore it cannot claim ownership of ANY property and ANY and ALL PROPERTY In its clemency is to be considered PUBLIC PROPERTY. Therefore the 90-day time limit that typically applies to forfeited items did not apply. It was moved to the bullion vaults of Fort Knox, Kentucky, after the case was settled in late January of 2001, less than eight months before 7 WTC was destroyed in the 9/11 terrorist attack. The year â¦ And Switt had good reason not to trust the government. Dinner saw the three men discussing the scheme for redesigning the cent, the eagle (gold $10) and the double eagle (gold $20) behind the back of U.S. Mint Chief Engraver Charles E. Barber. The first double eagle was minted in 1849, coinciding with the California Gold Rush. A second set of dies was created, and over 12,000 of those “High Relief” coins were minted and released into circulation. But what’s so unlucky about owning one of the most coveted American coins struck in the 20th century? A coin where only a handful are known and where one example sold at auction for millions of dollars? One would imagine that finding 10 gold Saint-Gaudens Double Eagles in a long-neglected safe-deposit box would be an exciting find for those involved. About the 1933 Double Eagle The United States Mint has struck gold coins in various denominations since 1795. Those Mint representatives asked if it were possible to take the coins to ascertain their authenticity. The common date Saint-Gaudens Double Eagles include 1908 (No Motto), 1909-S, 1910, 1911-D, 1914-D, 1914-S, 1915-S, 1922, 1924, 1925, 1926, 1927, and 1928. The Post reported that in a 9-3 vote, the federal appeals court ruled for the government’s side. The obverse of Saint-Gaudens’ Double Eagle features a female Liberty, who also represents victory. The Saint-Gaudens double eagle, or $20 gold piece, stands above the rest as the single most magnificent coin of this or any era in U.S. history. Double Eagle The National Collector's Mint has privately minted a limited release of 1933 Double Eagle Tribute Proof - recreating America's rarest and the last $20 gold piece! After the Farouk auction, the coin is believed to have remained in Egypt until it was purchased by London coin dealer Stephen Fenton in 1995. She said, ‘Put them back and you deal with it after my death.'”. The 1933 Double Eagle was the last gold coin struck for circulation by the U.S. Mint. The Secret Service began an investigation in 1944 when a 1933 Double Eagle appeared in a New York auction. He brought it to the Waldorf Astoria Hotel in New York City to sell it for $1.6 million to an “American coin collector”. Above the eagle at the rim is “UNITED STATES OF AMERICA” and directly below that is “TWENTY DOLLARS”. Double Eagle gold coins were first minted in 1850 with a face value of $20. “It was not, perhaps, precisely the right moment in diplomatic history to go and try to make a claim on a coin.”. CoinWeek Supplies Highlights _______________________________________________________________________. According to a report on CNN.com, years later the Secret Service learned that George McCann, the Mint’s chief cashier, had taken 10 of those “illegal” coins out of the Mint. As for the Farouk coin, the United States had to sit on its hands until the Egyptian king was overthrown in 1952 to try to retrieve it. Another competitor for the world's most expensive coin may be the 1822 half eagle ten dollar gold coin. More than 40 years later, British coin dealer Stephen Fenton showed up with it in New York, and the Secret Service finally seized it during a sting operation during which they purportedly negotiated to purchase the coin. Top Rated Seller Top â¦ Roy’s father trusted the government, unlike Roy’s grandfather Israel Switt and Switt’s business partner Edward Silver, both of whom distrusted the federal government and President Roosevelt. Viewing the contents of the box had not been planned, but the bank in which it was kept had experienced some flooding that warped some of the frames of the boxes. In 1944, representatives of King Farouk of Egypt–an eclectic collector of stamps, old razor blades, antique aspirin bottles, and coins–applied for an export license for a single 1933 Double Eagle. Over the ensuing years, a few further changes were made to Saint-Gaudens’ original design. We may never know for sure how these coins left the Mint, but there is a general consensus among scholars that a Mint cashier by the name of George McCann exchanged about 20 1933's doomed for destruction and replaced them with earlier dated Double Eagles. Langbord appealed the ruling several times all the way up to the United States Supreme Court. Chief Engraver Charles E. Barber crafted his version of it with a greatly lowered relief and changed the date to ‘1907’. The 1933 $20 Saint Gaudens Gold Double Eagle is one of the most famous and most valuable of all US coins. President Rooseveltâs executive order regarding gold was issued March 6, 1933. This way, the accounting books would balance, and nobody would realize that anything was amiss. Some 445,500 double eagles were made in 1933, but that was the year President Franklin Delano Roosevelt removed the United States from the gold standard. C $127.34. Unbeknownst to the Secret Service or anyone else, however, Switt had 10 more of the “illegal” 1933 gold coins in his possession. Specifically, the Property Clause found in Article Four. In May 2016, Stack's/Bowers and Sotheby's Auctions offered the coin where a bid of $6,400,000 failed to satisfy the hidden reserve. Although this was frowned upon by United States citizens, the penalties were steep and most citizens surrendered their coins for paper money. Get the best deals for 1933 gold double eagle replica at eBay.com. The Philadelphia federal appeals court ruled that since the government took too long to respond the Langbords’ claim, the 10 Double Eagles had to be returned to the family. On February 29, 1944, one of the 1933 Double Eagles left the United States after being sold to a foreign national by a coin dealer in Texas; that must have been the Farouk coin. After King Farouk was deposed in 1952, his 1933 Double Eagle briefly appeared on the market, but when it became clear that U.S. authorities still wanted to confiscate it, it vanished again! But the case again swung in the government’s favor. CoinWeek does not buy or sell coins or numismatic material and No endorsement or affiliation to or from CoinWeek.com is made. A mere two months before the terrorist attacks of September 11, 2001, the lawsuit was settled, and the Double Eagle was moved to Fort Knox. What Does MCMLXXXVI Mean on My Gold Coin? The money from the sale was split evenly between the U.S. government and Fenton. The United States Mint had only begun to strike 1933 $20 Gold Double Eagle coins on March 2, 1933. Roy told Switt the information and they never discussed the coin again. “How the discovery of 10 1933 gold double eagles altered life for Israel Switt’s heirs”, Coin World. Since the moment it was moved to Fort Knox, the United States Mint Police guarded the coin until after the auction ended. The first $20 Double Eagle coin was minted in 1849. Garrett, Jeff. Nissen, Beth. The 1933 double eagles would be the last of its kind. Our 1933 Double Eagle ArchivalEdition commemorative coin is produced with the same design and dimensions of the original coin and is 100% legal to own. Many a man his life hath sold Sitting there looking at the small hoard, Roy knew that finding those coins could be life changing. Unaware of the legal status of these coins (or perhaps just a bit too trusting of the government) she sent all ten specimens to the U.S. Mint to have them authenticated. You should inform yourself on the Constitution of the United States. The winning bidder had to pay “a fee of $20 for the face value of the coin,” said David Pickens, who was Associate Director of the U.S. Mint at that time. January 27, 2017. The Secret Service declared the coins genuine and seized them. It was over lunch with his father that same day that Roy discussed what to do with the coins. Today they are called “Ultra High Relief.” They took up to nine strikes of the press to bring out the design. And, in 1912, two more stars were added to the obverse after New Mexico and Arizona became states. The obverse features a striking image of Liberty as sculpted by Augustus Saint-Gaudens, and the reverse featured an eagle in flight illuminated by rays of sunlight. At the Mint, 445,500 of the 1933 Double Eagles were struck, and production did not stop after the president issued his Executive Order. The government confiscated several of them, and only one is legal to own. The Saint-Gaudens series from 1907 to 1933 is a mixed bag of quite expensive type coins, high- and low-relief versions, easy-to-find coins, difficult-to-find key dates, and some issues that are virtually impossible to find. November 2013. Often have you heard that told. “It wasn’t until a few weeks after that license was signed that suddenly everyone realized that an awful mistake had been made,” said David Redden, Vice Chairman and Auctioneer at Sotheby’s. The U.S. $20 Gold Double Eagle, Saint-Gaudens type, had been issued from 1907 until 1932. After realizing they had mistakenly granted a license for one of the stolen 1933 Double Eagles, the United States Government requested for the coin to be returned. It is ironic that while one Roosevelt helped give us the stunningly beautiful Saint-Gaudens Double Eagle, another Roosevelt made it a federal crime to possess one dated 1933. Langbord said they were told they could be taken for a short time, “but we never gave them carte blanche.”. A total of 361,667 of Barber’s revised design were produced by the Mint and released into circulation. Among the selection were several gold coins placed snugly in 2×2 manila coin envelopes marked ‘LLDE’. Through Switt, nine of the 1933 Double Eagles were tracked down by the feds and eventually destroyed. 1933 Double Eagles The twenty dollar gold coin, known as a Double Eagle, was a child of the California Gold Rush, and the massive shipments of ore sent back East. the government’s willingness to destroy many of these coins is nothing but bureaucratic vandalism of the first order. “Auction brings $7.6 million for ‘Double Eagle’”, CNN.com. Its extraordinary story winds across seventy years and three continents, linking an almost unbelievable cast of characters: Theodore Roosevelt and a Philadelphia â¦ Switt preferred to do business in cash, and had two stand-up safes in his shop in Philadelphia that are still there. He was arrested during the 1930s (sometime after Roosevelt’s proclamation outlawing the private ownership of gold) while carrying a suitcase of U.S. gold coins to the Philadelphia Mint for melting. Fare you well. A lower court ruled that the coins were the property of the United States government and therefore considered stolen property. Gilkes, Paul. Based on Saint-Gaudens’ models, 24 pieces were struck as patterns. The "eagle", "half eagle", and "quarter eagle" were specifically given these names in the Act of Congress that originally authorized them. Gilded tombs do worms enfold. Just days earlier, however, King Farouk of Egypt had purchased a different 1933 Double Eagle from a Texas coin â¦ As the 1900s dawned, Augustus Saint-Gaudens was a towering figure in the sphere of American fine arts. After the 1933 Double Eagle was struck, President Franklin Delano Roosevelt took the United States off the gold standard. Langbord had an attorney named Barry Berke, who contacted Mint officials to discuss the coins. Some Saint-Gaudens Gold Double Eagle facts: Since the $20 gold double eagle coin had twice the value of the $10 gold eagle, these coins were designated âdouble eaglesâ. 2020 © DISCLAIMER: All content within CoinWeek.com is presented for informational purposes only, with no guarantee of accuracy. A 1927 Saint graded MS 64 Secure by PCGS realized $1,560.00 at Heritage. Get DIY project ideas and easy-to-follow crafts to help you spruce up your space. At that time this was a world record for purchasing a single coin. Why weren't they melted down? It has been determined that he was the only Mint employee who had access to the 1933 Double Eagles. From United States. Somehow the agents were led to Israel Switt, who had sold the 10 coins in question. Regardless of legal questions about provenance, ownership, etc. She walks upon rocks and behind her are the Capitol building and rays of sunlight. TENSOR LIGHT - used by many numismatists to examine and grade coins. One by one, federal agents tracked down the other nine coins that left the Mint by way of George McCann. There's a new King in the world of numismatics and it's the fabled 1933 St. Gaudens Double Eagle. 1933 Double Eagle Gold Replica In 1907, President Theodore Roosevelt commissioned famed sculptor Augustus Saint-Gaudens to redesign the Gold Double Eagle coin. There is also lengthy legal jurisprudence on this subject and Congress’s power to control property is virtually limitless. Susan is an avid coin collector of over 30 years, and has written 150 articles for The Spruce. 10 Rarest and Most Valuable Coins in the World, The 1913 Liberty Nickel - The World's Most Hyped Coin. Coin Value Us St Gaudens Gold Piece Copy Counterfeit 1933. “Collecting Saint Gaudens, Parts I, II, III, IV, V”, NGC.com. Stunning Beauty!! Fenton fought a several-year-long legal battle in the U.S. courts over ownership of the coin, during which time which it was stored in the Treasury Vaults at the World Trade Center. Double Eagles are U.S. $20 gold coins, which served as money in the United States from 1850 to 1933. For genuine coins, not replicas, more than 400,000 were struck. January 2, 1906, saw Saint-Gaudens write to Secretary Shaw, asking whether high relief was practical on coins produced at the Mint. C $25.48. Free Insured Sâ¦ However, all except 13 coins dated 1933 were melted, and of those 13 only one has been on the market. Would they do the same for a painting or piece of sculpture? The issuance of the coin was a result of a monetary initiative introduced by President Theodore Roosevelt to beautify American coinage. An executive order required all U.S. citizens to return their gold coins to the bank and exchange them for paper money. In October 1982, D. Brent Pogue purchased the coin for $687,500. $20 Gold pieces designed by Augustus Saint-Gaudens were minted between 1907 and 1933. “LIBERTY” is located above the figure of Liberty and the date 1907 is presented in Roman numerals, MCMVII. One thing is for sure: the Secret Service can't confiscate it anymore! Product Description In 1933, the Gold Confiscation Act called for that entire yearâs $20 gold coin mintage to be melted down. Cold, indeed, and labor lost. Eventually the Secret Service tracked them all down and destroyed them (except for the Farouk coin). All News, Articles, Commentary and Opinions are contributed by the author(s), with or without compensation, who are solely responsible for the content, and do not represent CoinWeek Management. Their rein as the United Statesâ premier gold coins ended with President Franklin Rooseveltâs 1933 Executive Order 6102, which required Americans to turn in their gold coins and gold bullion. April 19, 2002. It will be interesting to see, should the 10 Langbord coins ever come to market, if the 1933 Double Eagle will retain its place as the world's highest priced coin when the number of available specimens increases ten-fold.Â. A number left the mint surreptitiously. The resulting masterpiece featured Lady Liberty striding toward theviewer into the dawn of a new day and has long been considered the most beautiful coin â¦ However, by 1952, the Secret Service had confiscated eight more 1933 Double Eagles! The Langbords decided to sue the government. As William Shakespeare wrote in his 16th-century play Merchant of Venice: All that glisters is not gold— According to the U.S. constitution the “US Government” IS NOT AND CANNOT BE A SEPARATED ENTITY NOR CAN IT BE IN ANY WAY SHAPE OR FORM CONSIDERED “APART FROM” WE THE PEOPLE!! But my outside to behold. 20 dollar from year 1933 united saint gaudens double eagle copy 1861 20 paquet ms61 pcgs only three 1933 20 liberty gold double eagle 1933 saint gaudens gold double eagle. Learn how your comment data is processed. Likewise, the double eagle was specifically created as such by name in the Coinage Act of 18â¦ According to the out-of-court settlement, the U.S. Mint agreed to declare the notorious coin the only 1933 Double Eagle ever to have been issued (monetized) by the U.S. government. “I would have the Mint stamp modern versions of those Greek coins in spite of itself,”, “You know, Saint-Gaudens, this is my pet crime.”, “It wasn’t until a few weeks after that license was signed that suddenly everyone realized that an awful mistake had been made,”, “This coin was illegal to own, and in fact clearly had been stolen from the U.S. Mint.”, “In 1944, we were in the middle of a world war, and Egypt stood at the crossroads in the middle of the Mediterranean,”, “It was not, perhaps, precisely the right moment in diplomatic history to go and try to make a claim on a coin.”, “a fee of $20 for the face value of the coin,”, “These Double Eagles were never lawfully issued, but instead, were taken from the … Mint … in an unlawful manner more than 70 years ago,”, “The Court’s decision upholds the rule of law and makes clear that the government will be held accountable when it violates the rights of its citizens and the clear mandate of Congress,”, “The Langbord family fully intends to seek review by the Supreme Court,”, “of the important issue of the unbridled power of the government to take and keep a citizen’s property.”, _______________________________________________________________________, http://www.cnn.com/2002/US/07/30/double.eagle/index.html, Counterfeit Coin Detection – 1850 JB Costa Rica Gold Escudo, Canadian Silver Coin Honors the Wedding of Prince Harry and Ms. Meghan Markle, Zoom Video Presentation: Travels in Judea and Samaria: Coins & Etc. “You know, Saint-Gaudens, this is my pet crime.”. The coin was minted primarily for use in international trade until 1933. During the years of the legal process, the 1933 Double Eagle rested in a U.S. Treasury vault at 7 World Trade Center (WTC). Many consider Saint Gaudens Double Eagles the most beautiful coin in history. The artist’s initials are found below the date. His legal team argued that the United States had provided written permission for the coin to be included in a private collection: the export license of 1944. Save my name, email, and website in this browser for the next time I comment. The coins are made from a 90% gold and 10% copper alloy and have a total weight of 1.0750 troy ounces. He had read an article in the New York Times about the public auction by Sotheby’s and Stack’s on July 30, 2002 of the alleged King Farouk specimen. “When I first told my mother, she said she didn’t want her life to change. (d) Gold coin and bullion licensed for the other proper transactions (not involving hoarding) including gold coin and gold bullion imported for the re-export or held pending action on applications for export license. Collins, Glenn. The partners also did not like banks. (b) Gold coin and gold certificates in an amount not exceeding in the aggregate $100.00 belonging to any one person; and gold coins having recognized special value to collectors of rare and unusual coins. It is the survival rate of each issue that determines rarity. On January 24, 2013, Stacks Bowers Gallery sold a 1794 Flowing Hair silver dollar for over $10 million ($10,016,875Â including the buyer's fee). The buyer chose to remain anonymous, and it is currentlyÂ on display at The New-York Historical Society and Library, on temporary loan from an anonymous private collection. Langbord knew all of this when he and his father agreed to consult a lawyer about what to do. A recent auction at Heritage saw a 1924 Saint graded MS 64 by NGC sell for $1,440.00. Brothers, Eric. It became illegal for private citizens to own gold coins unless they clearly had a collectible value. Uncirculated U.S. Mint Set Values and Prices. After taking the U.S. off the Gold Standard, President Roosevelt â¦ (1967-1990), Big Things Have Happened at the United States Mint in the Month of January, Finest Brasher Doubloon, 1804 Plain 4 Eagle Offered by Heritage Auctions, Everything You Need to Know About Washington Quarters, Large Assortment of Haitian Notes to Highlight Stack’s Bowers Jan. 2021 Auction, CSG Grading Service for Sports Cards Launching Soon: NGC. The two New Yorkers—the president and the artist—had an enthusiastic, animated conversation about the beauty of high-relief Greek coins. The Langbord family could not forfeit a U.S. government possession, argued the government, they could only surrender it. It was soon put up for auction. Guarino, Ben. “In 1944, we were in the middle of a world war, and Egypt stood at the crossroads in the middle of the Mediterranean,” said Redden. If you ever thought that it would be cool to own a 1933 Double Eagle, think again. Today, the extremely rare original 1933 Double Eagle is the most valuable coin in existence. The 1933 Double Eagle sold for $6.6 million, plus its $20 face value and a 15 percent fee to the auction houseâa grand total of $7.6 million. To end the run on the banks and stabilize the economy, President Franklin Roosevelt took America off the gold standard. All the coins were ordered melted down, but a handful are believed to have survived, including two handed over to the â¦ Part of that executive order is presented below: Section 2. Regardless of how they got circulated or anything else we all are forgetting 1 specific fact. The original 2011 jury verdict saw the Mint score a victory. “ ‘A high-stakes dispute over ten pieces of gold’: Court reclaims priceless Double Eagle coins for U.S. government”, The Washington Post. According to Mr. Pickens, the amount going to the Mint was to be placed “in the general fund of the Treasury Department to reduce the national debt.”. Would it be possible, without asking permission of Congress, to employ a man like Saint-Gaudens to give a coinage that would have some beauty?”. On Monday, April 17, 2017, the united States Supreme Court declined to hear the case of the Langbord-Switt 1933 double eagle $20 gold coins. New Listing 1933 US Double Eagle Walking Liberty $20 Gold Plated Proof Copy Coin. Since there would be no more gold currency issued in the U.S., the Mint had melted down the 1933 run of Gold Double Eagles and converted them to gold bullion bars by 1937. The 445,500 gold coins minted in 1933 were never put into circulation because the U.S. went off the gold standard. Garrett tells us that the 1927-D is more rare than the 1933. The locks had to be drilled open to repair the boxes, and therefore the contents of each box needed to be removed. In correspondence with the Langbords, the Mint said that they had “no intention of seeking forfeiture of these ten Double Eagles because they are, and always have been, property belonging to the United States; this makes forfeiture proceedings entirely unnecessary.”. Gold replica in 1907 Depression and even major legal disputes today, there were also Mexican and Roman. Gold— Often have you heard that told 1952, the Numismatist or sell coins or Numismatic and., Heritage sold a 1925 example graded MS 64 Secure by PCGS realized 1,560.00... And has written 150 articles for the Farouk coin ), they could only surrender it 1933 US Double coin! 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