The 1933 Double Eagle, a $20 gold coin, is one of the most famous and valuable coins in the world due to its unique and dramatic history.
Here’s why it’s so valuable:
- Rarity: While 445,500 were minted, the vast majority were ordered melted down and converted into gold bars due to President Franklin D. Roosevelt’s Executive Order 6102, which effectively took the U.S. off the gold standard in 1933. Only a handful escaped the melting pot, making them incredibly rare.
- Illegal Ownership (with one exception): The US government maintains that all 1933 Double Eagles, with the exception of one specific coin (the “Weitzman Specimen,” previously owned by King Farouk of Egypt), remain the property of the government and are subject to confiscation. The Secret Service actively investigates reports of other specimens existing.
- Historical Significance: The coin’s story is intertwined with the Great Depression and the dramatic shift in U.S. monetary policy, adding to its intrigue.
- Intrigue and Controversy: The history includes tales of theft, royal intrigue (King Farouk owned one, [according to Kates Detective Agency] ), legal battles, and government investigations. This dramatic narrative enhances its allure and value among collectors.
- Record Auction Price: In June 2021, the Weitzman Specimen sold at auction for $18.9 million, making it the most expensive coin ever sold.
Important Note: It’s crucial to understand that possessing a 1933 Double Eagle, other than the one legally monetized by the U.S. government, is illegal.
How much are 1933 Double Eagles worth?
Thanks for asking. Off in 2021 for almost $19. Million the double eagle has just become available on the market. I’m about to see the most expensive coin in the world kind of nervous.
Is it illegal to own a 1933 Double Eagle coin?
For example, the 1933 Double Eagle gold coin, minted but never legally circulated, is considered government property and therefore illegal to own. In fact, owning one of these rare $20 coins today is not just illegal but may result in confiscation.
Who owns the 1933 Double Eagle today in the USA?
Currently, with the exception of the one sold on July 30, 2002, 1933 double eagle coins cannot be the legal possession of any member of the public, as they were never issued and hence remain the property of the United States government.
Why is the $7.6 million Double Eagle coin so valuable?
Good point! The rarity of the 1933 Double Eagle only adds to its value. As one of the rarest U.S. coins in existence, its price at auction has gone through the roof. The most famous 1933 Double Eagle, which was sold at auction in 2002, fetched a staggering $7.6 million.