Discover the $7.85 Million Double Eagle – America’s Most Valuable Gold Coin

Introduction

In the numismatic world, few coins can match the appeal and mystique of the Double Eagle. It is an iconic American coin that was minted in the early 20th century, which is not just a piece of history but one of the most valuable and sought-after gold coins ever produced. Among the most famous of these is the 1933 Double Eagle, a coin that shattered records and captured the imagination of collectors when it sold for an astonishing $7.85 million.

But what makes this coin so special? And how did it earn its status as America’s most valuable gold coin? Let’s dive into the fascinating story of the 1933 Double Eagle and explore why it is considered one of the greatest treasures in the world of coin collecting.

What is the Double Eagle?

The Double Eagle is a gold coin that was minted by the United States from 1849 until 1933. The coin’s name comes from its value: $20, or twice the amount of the Eagle coin, which was valued at $10. The coin features a striking design, with an image of Lady Liberty on the obverse (front) and a bald eagle on the reverse (back), symbolizing the strength and freedom of the United States.

The Double Eagle became one of the most popular coins during the late 1800s and early 1900s, with its high gold content and usage in international trade. Though millions of Double Eagles were produced throughout the years, the 1933 issue is unique due to its rarity, history, and incredible journey through time.

Historical Context and Creation

The United States wanted to improve the aesthetic of its coinage in the early 20th century. Therefore, President Theodore Roosevelt asked the famous sculptor Augustus Saint-Gaudens to redesign gold coins for the nation, creating the Double Eagle. The Lady Liberty is depicted striding forward on the obverse of the coin while a majestic eagle in flight graces the reverse, representing aspirations and strength.

Lincoln Wheat Penny Priced at $990,000 – Is One Waiting in Your Change?

1933 Minting and Subsequent Recall

In 1933, at the height of the Great Depression, the U.S. Mint minted 445,500 Double Eagles. However, thanks to President Franklin D.

Roosevelt’s Executive Order 6102, issued to stabilize the economy by stopping hoarding of gold, none were ever issued to circulation. The majority were melted down, while a few specimens survived the wrecking ball.

Key Details of 1933 Double Eagle

Feature	Description
Designer	Augustus Saint-Gaudens
Denomination	$20
Composition	90% gold, 10% copper
Diameter	34.1 mm
Weight	33.431 grams
Minting Year	1933
Number Minted	445,500
Circulation Status	Never officially circulated; most were melted down
Known Surviving Coins	Approximately 13; only one is legally owned by a private collector
Record Auction Price	$18.9 million (2021)

The Journey of the Surviving Coins

One of the few that survived made its way into the collection of King Farouk of Egypt in 1944. The coin disappeared after his deposition but resurfaced in 1996 when a British coin dealer tried to sell it in New York.

The U.S. Secret Service confiscated the coin, and there was a lawsuit that ended in its auctioning in 2002. It sold for $7.59 million, and at the time, it set a world record. In 2021, the same coin was sold, and it realized an astonishing $18.9 million, thus reconfirming its position as the world’s most valuable coin.

Discover the $677,777 Bicentennial Quarter and 4 Coins That Could Make You Rich

The Legal and Collectible Status

The 1933 Double Eagle is the only coin to possess a peculiar legal status. The majority of specimens are outlawed from ownership as they were illegally released. The coin auctioned in 2002 was, however, monetized by the U.S. government, hence becoming the first legal tender of its kind ever found in private ownership. Its value and desirability are further enhanced by its rarity and history.

Conclusion

The 1933 Double Eagle is not only the most valuable gold coin in America but also a reminder of the fascinating stories that can be hidden in the world of coin collecting. From the great economic challenges of the 1930s to the legal wrangling over its ownership, this coin stands as a symbol of both the fragility and the resilience of American currency. Whether you are an experienced collector or a novice, the story of the 1933 Double Eagle is one you won’t soon forget.

FAQ’s

How many 1933 Double Eagles exist today?

It is estimated that around 13 pieces are in existence, of which only one legally belongs to a private collector.

Is owning a 1933 Double Eagle legal?

Most of these coins are illegal to own because they were released without authorization. However, the specimen sold in 2002 was monetized and therefore legal tender.