The 1933 Double Eagle coin is not just a piece of metal; it represents an important part of American history and art. Valued at over $30 million, this coin has a captivating story that collectors and historians find irresistible.
Let’s explore why the 1933 Double Eagle is one of the most famous and sought-after coins in the world.
The Birth of an Icon
The 1933 Double Eagle was created during the Great Depression, a tough time for the American economy. It was minted at the United States Mint in Philadelphia and was part of the Gold Eagle series, which started in 1907.
The coin was designed by the well-known sculptor Augustus Saint-Gaudens, showing a proud image of Liberty on one side and a flying eagle on the other.
Although it was made for people to use, most of the 1933 Double Eagles never made it into circulation. A few coins managed to escape from the Mint, making them extremely rare and highly valued.
The Great Gold Recall
In 1933, President Franklin D. Roosevelt wanted to help stabilize the economy. He ordered that gold coins be recalled and removed from circulation, which marked a major change in how money worked in the U.S. Because of this, most of the 1933
Double Eagles were set to be melted down, and they never reached the public. However, a few coins made it out into the world, setting the stage for an incredible story that would last for decades.
The King Farouk Affair
One famous 1933 Double Eagle ended up with King Farouk of Egypt. At the time, he didn’t know that the coin was illegally obtained. The U.S. government even gave permission for the coin to be exported. But when they realized what had happened, they tried to get it back.
After King Farouk was overthrown in 1952, the coin disappeared for many years, only to resurface with a coin dealer in the 1990s.
Legal Battles
When the 1933 Double Eagle was discovered again, it sparked a series of legal fights. The U.S. government claimed it was theirs, while collectors and dealers argued for their rights to it.
After a long process, a settlement was reached that allowed private ownership of one coin. In 2002, this particular coin was sold for over $7 million at auction, setting a new record for coin sales.
The Landmark Sale
In June 2021, history was made again when a 1933 Double Eagle was sold at a Sotheby’s auction for more than $18.9 million. This sale not only highlighted the coin’s incredible value but also reinforced its importance as a cultural and historical symbol.
Beyond being rare and beautiful, the 1933 Double Eagle holds a rich history filled with stories and mysteries that continue to fascinate people today.
The 1933 Double Eagle coin is much more than a valuable collector’s item. It tells a complex story of art, history, and intrigue that captivates anyone who learns about it. From its creation during a challenging time in America to its current status as one of the most expensive coins ever sold,
the Double Eagle remains a symbol of the intertwining of economics and culture. The journey of this coin is a reminder of how history shapes our understanding of value and legacy.
1. What is the 1933 Double Eagle coin?
The 1933 Double Eagle is a rare gold coin minted in the United States. It features a design by artist Augustus Saint-Gaudens and was intended for circulation but never made it into regular use due to a government recall of gold coins.
2. Why is the 1933 Double Eagle so valuable?
The 1933 Double Eagle is worth over $30 million because very few of them were ever released into circulation. Most were melted down, making those that survived extremely rare and highly sought after by collectors.
3. What happened to most of the 1933 Double Eagles?
In 1933, President Franklin D. Roosevelt ordered gold coins to be recalled to help stabilize the economy. Most of the 1933 Double Eagles were melted down, but a few were smuggled out and became part of history.
4. Who owned the famous 1933 Double Eagle coin?
One of the most famous 1933 Double Eagles was owned by King Farouk of Egypt. After he was overthrown, the coin disappeared for years before being found again in the 1990s.
5. How much did the 1933 Double Eagle sell for at auction?
In June 2021, a 1933 Double Eagle was sold at auction for over $18.9 million, setting a new record for the highest price ever paid for a coin. This sale highlighted its importance as both a collectible and a historical artifact.
