The 1933 Double Eagle coin is one of the most mysterious and valuable coins in history. It’s more than just a piece of money; it’s a symbol of art, history, and intrigue.
This rare coin has captivated collectors for years, and its story is full of twists and turns, including legal battles, high-profile sales, and international drama.
Let’s explore why the 1933 Double Eagle is so special and why it holds such a unique place in the world of numismatics.
The Birth of the 1933 Double Eagle Coin
The 1933 Double Eagle was created during the Great Depression, a time when the U.S. was facing a major economic crisis. The coin was part of the Gold Eagle series, which had been in circulation since 1907.
Designed by famous sculptor Augustus Saint-Gaudens, the coin featured an image of Lady Liberty on one side and a powerful eagle on the other.
Although it was minted in 1933, almost all of the coins were never released to the public. Only a few managed to escape the U.S. Mint, making them extremely rare and highly prized.
The Government’s Recall of Gold
In 1933, President Franklin D. Roosevelt decided to recall gold coins from circulation in an effort to save the struggling economy. As a result, most of the 1933 Double Eagles were supposed to be melted down.
However, a few coins mysteriously slipped out of the Mint, setting the stage for a decades-long saga filled with mystery and legal battles. These few surviving coins became legendary in the world of rare coins.
King Farouk and His Famous Coin
One of the 1933 Double Eagles found its way to Egypt and into the collection of King Farouk, who was well-known for his love of rare coins. The U.S. government mistakenly granted an export license for the coin,
not realizing it wasn’t supposed to leave the country. After King Farouk was overthrown in 1952, the coin disappeared for years. It resurfaced in the 1990s when a coin dealer came into possession of it, sparking a new chapter in the coin’s story.
Legal Battles and Ownership Disputes
When the 1933 Double Eagle reappeared, it caused a major legal battle between the U.S. government and collectors. The government claimed the coin was their property, while the collectors believed they had the right to own it.
After years of court cases, a deal was made that allowed one of the coins to be privately owned. In 2002, this coin was sold at an auction for over $7 million, setting a new record for the most expensive coin ever sold at that time.
Record-Breaking Sales
The value of the 1933 Double Eagle only continued to rise. In June 2021, the coin was sold for over $18.9 million at a Sotheby’s auction. This sale broke previous records and cemented the 1933 Double Eagle’s place as one of the most valuable and sought-after coins in the world.
The coin isn’t just valuable because of its rarity; its rich history, legal disputes, and mysterious past make it a true treasure in the eyes of collectors and historians.
The 1933 Double Eagle coin is more than just a rare piece of metal—it’s a piece of American history.
From its creation during the Great Depression to its record-breaking sales at auction, the journey of this coin is filled with mystery, intrigue, and historical significance.
Today, it stands as a symbol of both incredible value and the complex relationship between money, power, and history. The 1933 Double Eagle continues to fascinate collectors and historians alike, and its legacy will no doubt live on for years to come.
1. Why is the 1933 Double Eagle so valuable?
The 1933 Double Eagle is valuable because it’s extremely rare. Only a few coins escaped the U.S. Mint, and its rich history adds to its high value.
2. How much is the 1933 Double Eagle worth?
In June 2021, one of these coins sold for over $18.9 million at auction, making it one of the most expensive coins ever sold.
3. Why was the 1933 Double Eagle recalled?
President Franklin D. Roosevelt recalled gold coins, including the 1933 Double Eagle, to stabilize the economy during the Great Depression.
4. What happened to King Farouk’s 1933 Double Eagle?
After King Farouk was overthrown, the coin disappeared for decades before resurfacing in the 1990s. It eventually led to legal battles over ownership.
5. Who designed the 1933 Double Eagle?
The coin was designed by famous sculptor Augustus Saint-Gaudens, featuring an image of Liberty and a soaring eagle.