The 1933 Double Eagle coin is not just a piece of metal; it holds a rich history and mystery that has fascinated both collectors and historians.
Its unique design and limited availability have made it one of the most valuable coins in the world, with one coin selling for over $30 million. Let’s dive into the captivating history of this legendary coin and understand why it is so cherished today.
The Origin of the 1933 Double Eagle
The 1933 Double Eagle coin was minted during the Great Depression at the United States Mint in Philadelphia. It is part of the Gold Eagle series, which started in 1907, and was designed by Augustus Saint-Gaudens.
The coin features the image of Liberty on one side and an eagle on the other. However, most of these coins never made it into circulation due to a significant event in history.
The Gold Recall of 1933
In 1933, President Franklin D. Roosevelt ordered the recall of gold coins to help stabilize the economy during the Great Depression. This action was part of a larger plan to move the U.S. away from the gold standard.
As a result, nearly all the 1933 Double Eagles were melted down before they could be released. Only a few managed to escape, making them extremely rare and highly sought after by collectors.
The Mysterious Journey of the 1933 Double Eagle
One of these rare coins ended up in the collection of King Farouk of Egypt, a famous collector. The U.S. government unknowingly granted permission to export the coin to
Egypt, but later realized its mistake. When King Farouk was overthrown in 1952, the coin disappeared. It resurfaced in the 1990s when a coin dealer was found with it, leading to legal battles.
Legal Battles Over the Coin
The reappearance of the 1933 Double Eagle led to disputes between the U.S. government and private collectors over who owned the coin. After many legal challenges, a settlement allowed one coin to be privately owned.
In 2002, this coin was sold at auction for over $7 million, setting a record for the highest price ever paid for a coin at the time.
A Record-Breaking Sale
In 2021, the 1933 Double Eagle once again made headlines when it sold for an astonishing $18.9 million at Sotheby’s auction. This sale further established its place as one of the most valuable coins in history.
The 1933 Double Eagle’s appeal goes beyond its rarity; it is a symbol of historical events and the intrigue surrounding its mysterious journey through time.
The 1933 Double Eagle coin is more than just a collectible; it represents a piece of history, wrapped in mystery and legal drama. Its rarity, along with the stories tied to it, has made it one of the most treasured coins in the world.
From its origins during the Great Depression to its record-breaking auction sales, the 1933 Double Eagle continues to captivate and inspire collectors and historians alike.
1. Why is the 1933 Double Eagle so valuable?
The coin is valuable because most of the 1933 Double Eagles were never released to the public, and only a few exist today, making it extremely rare.
2. How much did the 1933 Double Eagle sell for at auction?
In 2021, one 1933 Double Eagle sold for $18.9 million at a Sotheby’s auction, setting a new world record for coin sales.
3. What happened to most of the 1933 Double Eagles?
Most of the coins were melted down following President Roosevelt’s 1933 gold recall, which made the few surviving coins incredibly rare.
4. Why did the U.S. government try to reclaim the 1933 Double Eagle from King Farouk?
The U.S. government realized they had mistakenly allowed the coin to be exported to Egypt and attempted to get it back after King Farouk’s downfall.
5. Who designed the 1933 Double Eagle coin?
The coin was designed by Augustus Saint-Gaudens, a renowned American sculptor, and his design is celebrated for its beauty and detail.
