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B-202199 1 (1981-05-07)

handle is hein.gao/gaobadjjj0001 and id is 1 raw text is: Q THE COMPTROLLER GENEA IECISI I .* '- . OF THE UNITED STATES WASHINGTON, 0. C. ;054B UNITEDO FILE: B-202199 DATE: MAY 7 i8V MATTER OF: Eugene Hyatt - Gold Certificate #H25188 DIGEST: laim for payment of ua.Lu-adngold certifica must e denied on basis of Treasury Department r cords showing it to have been one of a number of certifi- cates which have been paid and cancelled but were lost as a result of being thrown into the street during a fire in 1935. The cancelled certificate rightfully belongs to the Government and may not be returned to the claimant. This decision concerns the validity of Gold Certificate #H25188 which was presented by Mr. Eugene Hyatt for payment at the Heritage Bank of Racine, Wisconsin. [The Treasury Department refused to honor k-e\the certificateand Mr. Jerry T. Delcor,, Mr. Hyatt's attorney, has asked that< this Office $set[e te claim. By letter dated October 27, 1980,L[he Department of the Treasury advised the claimant that the certificate in question was of no value- According to Treasury records, the certificate was issued in the early 1900's to the Federal Reserve Board, and was subsequently paid and cancelled.75In 1935,La fire occurred in one of the buildings in Washington, in which Government records were stored. During the fire, a quantity of papers were thrown out onto the street, including a number of gold certificates, payable to order. Some of these certifi- cates were carried away by bystanders. Since that date, more than 100 such certificates have been returned by individuals in various parts of the country. The subject certificate, which was submitted, was determined to be another of the certificates lost during that fire._ KMr. Hyatt now seeks payment, or in the alternative, return of the cer- tificate. LAuthority over the issuance and redemption of gold certificates is vested in the Treasury Department.. 31 U.S.C. §§ 405b, 427-429 (1976). The Treasury Department has determined the subject certificate to have been cancelled; the claimant contends that the perforation on the certificate does not constitute proper cancellation. While we have custody of cancelled gold certificates,Lthis Office is in no posi- tion to question Treasury's determination as to the negotiability of gold certificates presented for paymentD

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