The 1933 Double Eagle is one of the most fascinating and valuable coins in numismatic history. This coin is shrouded in mystery, controversy, and historical significance. Designed by renowned sculptor Augustus Saint-Gaudens, the Double Eagle represents a peak of artistic excellence in U.S. coinage. However, the 1933 issue never officially entered circulation, making it one of the rarest coins in the world.
The History of the 1933 Double Eagle
A Coin of Art and Design
The Saint Gaudens Double Eagle was introduced in 1907 as part of President Theodore Roosevelt’s initiative to elevate the artistry of U.S. coinage. Saint-Gaudens’ design, featuring Lady Liberty holding a torch and an olive branch on the obverse and a majestic eagle in flight on the reverse, is considered one of the most beautiful coin designs ever produced.
The Great Depression and the Gold Recall
In 1933, amidst the economic turmoil of the Great Depression, President Franklin D. Roosevelt took the United States off the gold standard. This led to the recall of gold coins, including the newly minted 1933 Double Eagles. Most of these coins were melted down before they could be released to the public, making them illegal to own.
The Survival of a Few
Despite the government’s efforts, a small number of 1933 Double Eagles were somehow removed from the U.S. Mint. It is believed that 20 coins escaped and ended up in private collections. Over the years, some of these coins were recovered by the Secret Service, but a few remain unaccounted for.
The Legal Coin
In 2002, one 1933 Double Eagle was legally sold at auction for $7.59 million after a complex legal agreement between the U.S. government and a private collector. This coin remains the only 1933 Double Eagle legally owned by a private individual.
Value and Collectability
The 1933 Saint Gaudens Double Eagle is not just a coin; it’s a piece of history. Its rarity, historical significance, and artistic beauty make it a treasure among collectors. In recent years, another 1933 Double Eagle sold at auction for a record-breaking $18.9 million, solidifying its place as the most valuable coin ever sold.
Table: Key Facts About the 1933 Double Eagle
| Feature | Details |
|---|---|
| Designer | Augustus Saint-Gaudens |
| Year Minted | 1933 |
| Composition | 90% Gold, 10% Copper |
| Weight | 33.436 grams |
| Diameter | 34 mm |
| Number Minted | 445,500 (all but a few melted down) |
| Auction Record | $18.9 million (2021) |
Conclusion
The 1933 Saint Gaudens Gold $20 Double Eagle is a coin that transcends its monetary value. It is a symbol of art, history, and intrigue, capturing the imagination of collectors and historians alike. Its story is a fascinating chapter in U.S. history, highlighting a time of economic upheaval and the enduring allure of gold.
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FAQs
1. Why is the 1933 Double Eagle so valuable?
The coin is incredibly rare because most were melted down during the Gold Recall of 1933. Its artistic design and historical significance also add to its value.
2. Is it legal to own a 1933 Double Eagle?
Most 1933 Double Eagles are considered illegal to own, except for one coin that was sold at auction in 2002 under a legal agreement with the U.S. government.
3. How many 1933 Double Eagles still exist?
It is believed that 13 specimens survive, but only one is legally owned by a private collector.
4. What makes this coin a numismatic treasure?
Its rarity, historical context, and stunning design by Augustus Saint-Gaudens make it highly desirable among collectors.
5. Where can I see a 1933 Double Eagle?
Some examples of the 1933 Double Eagle are held in museums or government collections, such as the Smithsonian Institution.