CNN story on an uncirculated 1933 Double Eagle auction

Gloves should not be used when handling coins.

 

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From LitteletonCoin.com: To further protect their coins, more experienced collectors prefer to use soft cotton gloves when handling high-quality Uncirculated or Proof pieces. The best way to handle a collectible coin is by its edges with gloved hands.

 

One assumes that the previous owners of the coin never handled it, including King Farouk.

 

If I were the owner I would feel privileged to fondle it to my heart's content. And if I were the buyer, I wouldn't be surprised at that.

What I would be surprised at, though, is for the hired help to do the same.

 

Ah, if that's the case, that's more the behavior I would expect from a respected auction house like Sothebys. You're probably right.

 

And thats wrong, NOVICE collectors prefer to use gloves not more experienced ones. TPGs dont use gloves nor should anyone else. They increase your your chance of dropping the coin, increase your chance of touching the face of the coin from reduced feeling, and they carry contaminants themselves. No one should be using gloves touching a coin just clean hands

 

Luckily the skin on our hands don't secrete oils or sweat...

However, credit where credit is due. From https://www.pcgs.com/faq:

So you are indeed correct, and I learned something new today.

 

Would the coin be less valuable if King Farouk's fingerprint was on it?

 

This is completely correct. Only novice collectors handle coins with gloves.

 

Well it would certainly kill all the rumors of the coin being swapped out at some point if there were lol

 

If I understand the history of this coin. When Farouk purchased it he had to get an export license to get it out of the country which was mistakenly granted.

After he was overthrown, his possessions were to be auctioned including this coin. When the US government demanded it be returned due to it mistakenly be exported it disappeared only to reappear 40 years later in the hands of a NY dealer.

Is there any actual evidence that this was Farouks coin? It seems more likely to me that the dealer in NY acquired a different example of the 1933 Double Eagle and when he was arrested claimed it was Farouks hoping it would improve his legal claim.

 

Now, I ask you, does this look like a novice collector?

 

Say what? Error in the article, in 2002 it was the MOST expensive, it is currently #2.

At the time anyone had to get an export license for gold coins, Farouk's agent just applied for the license which was a routine chore for him and the US government just as routinely issued the license. This was before they were asked about an upcoming auction of a 33 Double eagle and they decided they were illegal and started rounding them up.

No. In fact back when the confiscation and trial of the Fenten coin occurred some people who had been at the 1954 sale said it wasn't the same coin.. Unfortunately they can't be asked for comentary today because I don't believe anyone who attended the sale is still alive.

 

I’m all in for a clean cotton glove, certainly not bare fingers on a multi-million dollar coin. I use cotton gloves on multi-dollar coins, as a matter of fact… am I too cautious?

By the way, I handle raw uncirculated and proof coins with a glove over a towel. Any drop is “caught” by the towel.

 

LOL, it looks like a painting to me.

Interesting. And I assume there are no period photos of the coin that Farouk coin in his collection either.

 

Ah, looks like you missed the other thread.

 

I did miss that one.

 

I think some of you boys need to start here...

https://www.cointalk.com/threads/1933-saint-gaudens-double-eagle-graded-ms65-no-holder.378726/

 

There were no photos in the palace collection catalog and as far as I know no other contemporary images either.