The 1933 Double Eagle coin is not just a piece of metal; it is a captivating story filled with history, art, and mystery. Valued at over $30 million, this coin has traveled through time, much like its intricate design.
In this article, we will explore the fascinating world of the 1933 Double Eagle and discover what makes it one of the most sought-after coins in the world.
Origins of the 1933 Double Eagle
The 1933 Double Eagle was minted during the Great Depression, a tough time for America’s economy. It was created at the United States Mint in Philadelphia and was part of the famous Gold Eagle series that started in 1907.
The talented sculptor Augustus Saint-Gaudens designed the coin, showcasing a majestic image of Liberty on one side and a soaring eagle on the other. Although the coin was meant for everyday use, only a few made it out of the Mint, making it extremely rare and valuable.
The Great Gold Recall
In 1933, President Franklin D. Roosevelt took steps to help the struggling economy by recalling gold coins. This marked a shift away from the gold standard. As a result, most 1933 Double
Eagles were set to be melted down and never entered circulation. However, a few coins managed to escape this fate, leading to a dramatic story that has unfolded over decades.
The King Farouk Affair
One of the most famous collectors of the 1933 Double Eagle was King Farouk of Egypt. He obtained the coin without knowing it was illegal to own. The U.S. government even gave him permission to export it.
However, once the government realized the coin’s true status, they tried to reclaim it. After King Farouk was overthrown in 1952, the coin disappeared, only to resurface with a coin dealer in the 1990s.
Legal Battles Over the Coin
The return of the 1933 Double Eagle sparked numerous legal disputes. The U.S. government claimed ownership, while collectors and dealers argued for their rights to it. After many years of court battles,
a settlement was reached, allowing private ownership of one coin. In 2002, this particular coin was sold at auction for over $7 million, setting a new record for coin values.
The Landmark Sale
In June 2021, the 1933 Double Eagle made headlines again by selling for an astounding $18.9 million at a Sotheby’s auction. This sale highlighted not just its financial worth but also its significance as a historical and cultural icon.
The stories and mysteries behind this coin add layers to its value, making it more than just a collectible.
The 1933 Double Eagle coin represents a remarkable journey through American history. Its story involves economic shifts, legal battles, and a royal collector, all contributing to its legendary status.
Beyond its beauty and rarity lies a rich narrative that fascinates collectors and historians alike. Whether you’re a seasoned numismatist or a curious newcomer, the 1933 Double Eagle is a symbol of resilience, artistry, and the intrigue of the past.
What is the 1933 Double Eagle coin?
The 1933 Double Eagle is a rare gold coin minted in the U.S. during the Great Depression, known for its historical significance and beauty.
Why is it so valuable?
The coin is valuable due to its rarity, historical context, and the dramatic stories surrounding its existence, including legal battles over its ownership.
How many 1933 Double Eagles still exist?
Only a few of the 1933 Double Eagles are known to exist today, making them extremely rare and sought after by collectors.
Who was King Farouk?
King Farouk was the king of Egypt who unknowingly acquired a 1933 Double Eagle coin, leading to a series of legal disputes when the U.S. government tried to reclaim it.
What is the most a 1933 Double Eagle has sold for?
The highest sale of a 1933 Double Eagle occurred in June 2021, when it sold for over $18.9 million at a Sotheby’s auction.
