Ben Zuke, Trustee in Bankruptcy of Midas Coin Company, Inc., Bankrupt v. St. Johns Community Bank

This is an appeal by the bankruptcy trustee from final judgment of the District Court determining that St. Johns Community Bank obtained a valid lien superior to that of the bankruptcy trustee upon United States coins having a numismatic value which were pledged to and placed in possession of the bank as security for a valid loan made to Midas Coin Company, now bankrupt. The Midas Coin Company was in the business of selling rare coins for a profit, and the coins pledged to the bank constituted part of its inventory and stock in trade for sale to customers in the regular course of business.

The…