The 1933 Double Eagle coin is more than just a piece of metal; it’s a symbol of American history, artistry, and mystery. Valued at over $30 million, this coin’s journey through time is filled with intrigue. Let’s dive into the story behind the 1933 Double Eagle and why it has become one of the most famous and valuable coins in the world.
The Origin of the 1933 Double Eagle
The 1933 Double Eagle was struck at the U.S. Mint in Philadelphia during the Great Depression. It was designed by the famous sculptor Augustus Saint-Gaudens, who created a design showing Liberty on the front and a majestic eagle on the back. This coin was meant to be used in everyday transactions but was never released for public circulation.
The Gold Recall and the Coin’s Fate
In 1933, President Franklin D. Roosevelt ordered the recall of all gold coins as part of a plan to stabilize the U.S. economy. Most of the 1933 Double Eagles were never released and were melted down, but a few coins mysteriously disappeared, making them extremely rare.
The Farouk Affair: A Royal Coin Collection
One of these rare coins made its way into the collection of King Farouk of Egypt, a famous coin collector. The U.S. government didn’t realize it was an illegal export at the time and allowed it to leave the country. After Farouk was overthrown in 1952, the coin disappeared, only to be found again in the 1990s.
Legal Battles Over Ownership
When the coin resurfaced, a legal battle broke out. The U.S. government wanted to claim it, but collectors and dealers wanted to keep it. After years of lawsuits, a settlement was reached, and one of the coins was sold at auction for over $7 million in 2002.
The 2021 Auction: A New Record
The 1933 Double Eagle made headlines again in 2021 when it sold at a Sotheby’s auction for an astounding $18.9 million. This sale set a new record and confirmed the coin’s place in history as not just a rare artifact, but also a symbol of American culture and heritage.
The 1933 Double Eagle is not just valuable because of its rarity or beauty. It’s a piece of history, representing a time of struggle and change in America. Its journey from the U.S. Mint to breaking auction records tells a story of mystery, legal battles, and the importance of heritage. This coin is a lasting reminder of America’s past and continues to fascinate collectors and historians alike.
FAQs:
Why is the 1933 Double Eagle so valuable?
The 1933 Double Eagle is valuable because only a few were ever released, making it rare. It also has an interesting history and has broken auction records.
Who designed the 1933 Double Eagle?
The 1933 Double Eagle was designed by Augustus Saint-Gaudens, a famous American sculptor.
Why weren’t most 1933 Double Eagles released?
In 1933, the U.S. government recalled most gold coins, including the Double Eagles, to stabilize the economy during the Great Depression.
What happened to the 1933 Double Eagle after it was recalled?
Most of the 1933 Double Eagles were melted down, but a few coins mysteriously disappeared and were later sold for millions.
How much did the 1933 Double Eagle sell for at the auction in 2021?
In 2021, the 1933 Double Eagle sold for $18.9 million at a Sotheby’s auction, setting a new record for a coin sale.
