5 Forbidden Coins Every Collector Craves – Secrets of Their Rarity

Introduction

The world of coin collecting is just full of exciting stories of extremely rare and very valuable pieces. However, not all coins are collectible—not for their price, nor even necessarily for their scarcity, but rather because it is illegal to own them. These forbidden coins have long enticed enthusiasts as a result of their drama-filled histories, government intervention, and unresolved mystery. Here’s a look at five of the most intriguing forbidden coins and their fascinating backstories.

1933 Double Eagle

Unquestionably, the 1933 Double Eagle is the undisputed king of forbidden coins. Intended to be $20 gold coins, these pieces were minted against a backdrop of the ravaging Great Depression in U.S. history. President Franklin D. Roosevelt took the decision to withdraw the U.S. from the gold standard, followed by the destruction of almost all 445,500 minted coins.

However, a few Double Eagles survived destruction and became the focus of one of numismatics’ greatest legends. The U.S. government now owns these coins, and it is illegal to own one. Only one has been sold at auction legally to date, bringing $7.6 million in 2002. The rest are still locked away under the watchful eyes of the U.S. Secret Service, which actively seeks any that surface.

2007 Liberty Head Double Eagle

The story of the 2007 Liberty Head Double Eagle exemplifies the modern-day battle between collectors and government authority. After collector Dwight Manley purchased this coin through legal channels, federal agents confiscated it, claiming it had never been authorized for private ownership.

This established a legal precedence that made governmental authority on specified coins remain effective even if they have entered the marketplace. The Liberty Head Double Eagle of 2007 has thus become a representation of when private collecting turns into federal jurisdiction.

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1974 Aluminum Penny

The 1974 Aluminum Penny is a test coin never intended for public circulation. During the peak of copper prices in the 1970s, the U.S. Mint experimented with alternatives that would help them save on the cost of their coins, thus producing about 1.6 million aluminum pennies.

Most of these experimental coins were withdrawn and melted down once they were brought before Congress for scrutiny. Some, however, were lost and have since become extremely valuable due to their scarcity. One emerged in 2014, leading to a court case that reaffirmed the government’s stance: it is unlawful to possess such coins.

1964 Peace Dollar

The 1964 Peace Dollar is often referred to as the “ghost coin” of U.S. numismatics. Over 300,000 coins were minted, but none were officially released and all were said to have been destroyed.

Rumors persist that a few coins survived the destruction, making the 1964 Peace Dollar one of the most elusive and mysterious pieces in U.S. coinage history. The government has declared any surviving examples to be illegal to own, but their legend continues to grow, making them a dream for collectors—if only they could legally obtain one!

1934 Chinese Silver Dollar

The 1934 Chinese Silver Dollar is an interesting example of a forbidden coin restricted by international laws. The coin bears the image of Sun Yat-sen, which is a momentous moment in Chinese history. Although these coins were meant for circulation, the Chinese government later banned their export.

Because of this, it is very hard to obtain one outside of China, and in some jurisdictions, they are illegal to own or trade. Because of this, they are very valuable among collectors, even though the legal obstacles to owning them are significant.

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Conclusion

The rarity, historical intrigue, and sense of exclusivity that forbidden coins offer to collectors are what make them so attractive. Whether minting errors, controversial histories, or government bans, these five coins have captured the imagination of numismatists around the world.

Owning one of these forbidden treasures has become a dream for many as they aspire to possess some of the history that has remained in the dark for ages. Similar to all the rare collectibles, the price of these coins increases with each passing day and the mystique associated with it grows with the passage of time.