Collectors and historians alike have been intrigued by the 1933 Double Eagle coin because it is more than simply a piece of metal; it is also a piece of history, a work of beauty, and a symbol of mystery.
This $30 million coin's history is as complicated and interesting as its design. Let's explore the 1933 Double Eagle's mysterious universe and discover why it's one of the world's most precious and interesting coins.
The US minted the Double Eagle coin in 1933 during the Great Depression. Philadelphia Mint issued it as part of the Gold Eagle series, which began in 1907. Augustus Saint-Gaudens' coin featured Liberty with an eagle. This 1933 edition was scheduled to be regular, but fate interfered. These coins are rare and valuable since few escaped the Mint.
Roosevelt hastily withdrew gold coins in 1933 to stabilize the economy. Get the country off the gold standard was his ambition. Many 1933 Double Eagles were never released and planned to be melted down. Some specimens were mysteriously smuggled out of the Mint, commencing a decades-long story.
The famed coin collector King Farouk of Egypt had one of the most famous 1933 Double Eagles. Unaware of its illegality, the U.S. government licensed the coin for export. When they discovered the mistake, they tried to retrieve it. After Farouk was ousted in 1952, the coin disappeared until a coin trader found it in the 1990s.
Legal challenges followed the 1933 Double Eagle's return. While collectors and dealers competed for the coin, the U.S. government claimed possession. A settlement allowed one coin to be privately owned after years of litigation. The most expensive coin ever sold was this one, auctioned for nearly $7 million in 2002.
The 1933 Double Eagle coin sold for nearly $18.9 million at Sotheby's in June 2021, breaking all records. This transaction confirmed the coin's cultural and historical significance as well as its worth. Stories and mysteries surround the coin, making it appealing beyond its rarity and beauty.
Not only is the 1933 Double Eagle coin rare, it reflects a tough moment in American history. Its U.S. Mint to record sale tale is replete of mystery, legal intrigue, and history. This coin depicts the complex relationship between money, power, and history, fascinating collectors and historians. Still significant, the 1933 Double Eagle represents American history and money.