The 1933 Double Eagle coin is not just a piece of metal; it’s a fascinating part of American history. Valued at over $30 million, this coin tells a story filled with mystery, artistry, and significant events.
From its minting during the Great Depression to its legendary status among collectors, let’s explore what makes the 1933 Double Eagle one of the most intriguing coins in the world.
The Birth of a Legend
The 1933 Double Eagle was created at the United States Mint in Philadelphia during a tough time in American history, known as the Great Depression. This was a time when the economy was struggling. The coin was part of the Gold Eagle series, which had been in use since 1907.
The famous artist Augustus Saint-Gaudens designed the coin, showcasing a beautiful image of Liberty on one side and a majestic eagle on the other. Although the 1933 version was supposed to be widely circulated, very few of these coins actually escaped the Mint, making them extremely rare.
The Great Gold Recall
In 1933, President Franklin D. Roosevelt made a bold decision to stabilize the economy. He ordered a recall of gold coins from circulation as part of his plan to move the country away from the gold standard.
Most of the 1933 Double Eagles were never released to the public and were meant to be melted down. However, some of these coins were secretly taken out of the Mint, leading to a thrilling saga that would unfold over decades.
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 mistakenly gave him an export license for the coin, not realizing it was illegal to own it.
Once they found out, they tried to get the coin back. After King Farouk was overthrown in 1952, the coin vanished, only to reappear in the hands of a coin dealer in the 1990s.
The Legal Battles
The rediscovery of the 1933 Double Eagle led to intense legal battles. The U.S. government claimed it was their property, while collectors and dealers argued for their rights to the coin.
After years of disputes, a deal was struck that allowed one coin to be privately owned. This particular coin was auctioned in 2002 for over $7 million, setting a record for the most valuable coin sold at that time.
The Record-Breaking Sale
In June 2021, the 1933 Double Eagle broke all previous records by selling for over $18.9 million at a Sotheby’s auction. This sale not only showcased the coin’s high monetary value but also emphasized its cultural and historical significance.
The charm of the coin lies not only in its beauty and rarity but also in the captivating stories and mysteries that surround it.
The 1933 Double Eagle coin is much more than just a valuable collector’s item. It embodies a unique piece of history filled with intrigue and legal drama. As one of the most valuable coins in the world,
it continues to captivate collectors and historians alike. The journey of the 1933 Double Eagle serves as a reminder of how history, art, and the economy intertwine, creating stories that last through generations.
1. Why is the 1933 Double Eagle coin so valuable?
The 1933 Double Eagle is valuable because it is extremely rare, with very few coins ever made and even fewer that escaped destruction.
2. Who designed the 1933 Double Eagle coin?
The coin was designed by Augustus Saint-Gaudens, who created a stunning representation of Liberty and an eagle.
3. What happened to most of the 1933 Double Eagles?
Most were ordered to be melted down due to a gold recall by President Franklin D. Roosevelt during the Great Depression.
4. How much did the 1933 Double Eagle sell for at auction?
In June 2021, one sold for over $18.9 million, setting a new record for the most valuable coin sold.
5. What makes the 1933 Double Eagle special besides its value?
Its story involves mystery, legal battles, and significant historical events, making it an icon of American numismatics.
