The 1933 Double Eagle coin is not just a valuable piece of metal; it’s a piece of history and art that has fascinated people for decades. Valued at over $30 million, this coin has a story that is as interesting as its design. Let’s explore what makes the 1933 Double Eagle so special.
The Birth of a Legend
Minted during the Great Depression, the 1933 Double Eagle was part of the Gold Eagle series first issued in 1907. Designed by Augustus Saint-Gaudens, the coin shows Liberty on one side and a soaring eagle on the other. Though it was meant to be a regular issue, only a few of these coins escaped the Mint, making them extremely rare and valuable.
The Great Gold Recall
In 1933, President Franklin D. Roosevelt recalled gold coins to help fix the economy and move away from the gold standard. Most of the 1933 Double Eagles were melted down, but some were secretly taken out of the Mint. This set the stage for a long and mysterious history.
The King Farouk Connection
One of the most famous 1933 Double Eagles ended up with King Farouk of Egypt, a well-known coin collector. The U.S. government gave him a license to export the coin, not realizing it was illegal. After Farouk was overthrown in 1952, the coin vanished, only to reappear in the 1990s.
The Legal Battles
The return of the 1933 Double Eagle led to many legal battles. The U.S. government wanted it back, while collectors and dealers also claimed ownership. After a lengthy legal fight, one coin was allowed to be privately owned and sold for over $7 million in 2002.
The Record-Breaking Sale
In June 2021, the 1933 Double Eagle broke records by selling for over $18.9 million at a Sotheby’s auction. This sale showed the coin’s immense value and its importance as a cultural and historical icon. The 1933 Double Eagle is not just rare and beautiful; it’s also surrounded by intriguing stories and mysteries.
The 1933 Double Eagle coin is a symbol of American history and mystery. Its journey from the U.S. Mint to a world-record auction highlights its unique story. This coin remains a valuable and captivating piece of American heritage, reflecting a complex blend of money, history, and intrigue.
What is the 1933 Double Eagle coin?
The 1933 Double Eagle is a rare and valuable gold coin minted during the Great Depression, featuring Liberty and a soaring eagle design.
Why is the 1933 Double Eagle coin so valuable?
Its value comes from its rarity, historical significance, and the mystery surrounding its limited release and legal battles.
How many 1933 Double Eagles are known to exist?
Only a few 1933 Double Eagles are known to exist, with most having been melted down or lost.
What was the significance of the gold recall in 1933?
President Franklin D. Roosevelt’s gold recall aimed to stabilize the economy and move the U.S. away from the gold standard.
What was the record sale price of the 1933 Double Eagle coin?
The coin sold for over $18.9 million at a Sotheby’s auction in June 2021, setting a new record for the most valuable coin ever sold.