jimmy_goodfella

i couldnt believe it but its true




A $20 double eagle gold coin minted in 1933 could fetch as much as $6 million when it is brought to auction by Sotheby's and rare coin dealer Stack's July 30 in New York. This would make it easily the most expensive coin in history.

What could make a coin worth so much? Before you start rummaging through your coin jar, it is important to know that this coin is the only one of its kind in the world. Not only is it unique, it has never even been officially issued. Not to put too fine a point on it, it's stolen.

When President Franklin Delano Roosevelt took the U.S. off the gold standard in 1933, he ordered all new $20 double eagle gold coins to be destroyed. Somehow, ten of the coins "disappeared" from the United States Mint. Over the years, nine of the coins were recovered and subsequently destroyed by the U.S. Secret Service. One slipped through the government's fingers and is believed to have ended up in the collection of Egypt's King Farouk, a passionate numismatist who amassed a collection of more than 8,500 gold coins. It is believed that the coin being offered by Sotheby's is the same coin.

However, no one can be certain. When Farouk was deposed in 1954, a 1933 double eagle was among the lots offered at the new regime's sale of the royal possessions. But the U.S. Treasury successfully had the coin withdrawn from the sale, only to have it disappear again.

What is known is that the present coin reappeared in 1996 when a British coin dealer was arrested at New York's Waldorf-Astoria Hotel attempting to sell it to Secret Service agents posing as coin buyers. With the double eagle once again in the government's hands, the courts reached a settlement that the coin could be privately owned, paving the way for the upcoming auction. Upon auction, according to the U.S. Mint, the coin will be officially made legal tender. The new owner will be presented with a certificate of transfer, enabling it to be privately owned. Of course, the final purchase price will be increased by $20, which will go the United States Treasury General Fund.







wow

rbm86

I can't decide whether to buy this or the King of Siam Proof Set!!

Pennycase

Yeah I think I'll have to purchase that 1933 gold piece.....I gotta have it... * counts and rolls up his pennies * AHAHAHAHAHA! not....Granted, if I had that much money, and was able to own a piece that there was only one of, I would have to buy it...But, at this point in time, and how much I make a YEAR, It really kind of drains me to know someone can buy a single coin that cost more than my house and 2 cars put together..... All in all, my maximum bid on that coin would be ten thousand dollars Think I will have any luck?

satootoko

The ego of the ultimate purchaser.

susanlynn9

Well, I'd buy it except I don't want to pay the additional $20 for the certificate.

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GDJMSP

Hate to tell you this - but that is not the worlds most expensive coin.

Back in 1989 a coin went up for auction - a gold 1000 mohur struck in India. The coin is unique - one of a kind and it weighs - if memory serves - approx 12 kilos

During the bidding - the high bid reached $10 million. But the coin did not sell - the bid was not high enough for the owner

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sylvester

It kinda puts it into perspective, the most expensive English coin out there (which has held the World record for most valuable English coin) sold for $290,000

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To reiterate Roy's words , 'a £0.01 coin is a penny, and not a cent, the UK have never issued cents'

Speedy

Well, I guess I must burst a bubble too.
I do believe that this is not the ONLY 1933 $20 gold piece....
I'd bet (if I was a betting man) that there are a few more that nobody knows about

Think about it!

Speedy

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ziggy29

It's probably not the only one -- unfortunately, with the sweetheart deal the government cut with the owner of the coin while the legal action was ongoing, all others were declared contraband. Which is a shame, IMO, because I think the '33 Saints would have been liberated in a court case based on significant evidence that at least some left the Mint legally before the doors on gold were slammed shut in 1933.

But now the government gets a cut, the owner of that coin gets to declare "legally unique" status and get more at an auction, and the rest of these beauties have to remain underground. Sad.

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jimmy_goodfella

thats what i was thinking, i dont mind paying millions but 20 dollars to the governmnt that just aint on is it .hehehehe

ya know what if i had a shed load of money i think i would buy stuff like that too,

rbm86

Free the 1933 Saints!!! Free the 1964-D Peace Dollars!!! Free Martha Stewart!! (Ooops, too late).

satootoko

Very good memory Doug. According to this article it is 32 troy pounds - about 12.2 kilos. (The high bid was "only" $8-million!

rbm86

Were coins that large common in India?? Is'nt there a limit to the size of what could be considered a "coin"? --- Maybe not, as long as it was "minted" with the intent to be used as money. However, this 12 kilo thing probably looks more like a commemrative plate than a coin.

satootoko

Tell that to the natives of Yap Island.

rbm86

Good one!! I forgot about those. Think I last read about YAP island coins in 7th grade history class!