Most Expensive Antique Coin In The World
Coins have been around for thousands of years and have been used as a form of currency in various cultures. Some coins have a rich history and are considered to be extremely valuable. The value of coins is often determined by their rarity, age, and historical significance. In this article, we will discuss the most expensive antique coin in the world and its history.
The 1933 Double Eagle
The 1933 Double Eagle is the most expensive antique coin in the world. The coin was minted in 1933 but was never released to the public. The reason for this is that President Franklin D. Roosevelt issued an executive order in 1933 forbidding the hoarding of gold coins, which led to the recall of all gold coins in circulation. However, a few 1933 Double Eagle coins managed to escape the recall and were later discovered by collectors.
In 1944, a British coin dealer named Stephen Fenton sold one of these coins to King Farouk of Egypt. The coin changed hands several times over the years and was eventually confiscated by the US Secret Service in 1996. The coin was sold at auction in 2002 for $7.59 million, making it the most expensive antique coin in the world.
The History of the Double Eagle
The Double Eagle was a gold coin that was minted by the United States Mint from 1850 to 1933. The coin was named after the eagle, a symbol of American freedom. The Double Eagle was first minted in 1849 as a $20 gold coin, but it was not until 1850 that the coin was produced in large quantities.
The design of the Double Eagle changed over the years, with various artists creating new designs. The most famous design is the Saint-Gaudens Double Eagle, which was created by Augustus Saint-Gaudens in 1907. The Saint-Gaudens Double Eagle is considered to be one of the most beautiful coins ever minted.
The Rarity of the 1933 Double Eagle
The 1933 Double Eagle is extremely rare because it was never released to the public. The US Mint produced over 400,000 Double Eagle coins in 1933, but they were all melted down except for two coins that were sent to the Smithsonian Institution for display. However, it is believed that several coins were stolen from the Mint and were sold to collectors.
The US Secret Service confiscated nine 1933 Double Eagle coins in 1937, but one coin was destroyed and the other eight were kept by the US government. In 1944, one of these coins was sold to King Farouk of Egypt, and it eventually made its way into the hands of private collectors.
The Value of the 1933 Double Eagle
The value of the 1933 Double Eagle is determined by its rarity and historical significance. The coin is considered to be a national treasure and is not allowed to be privately owned. The US government considers the coin to be stolen property, and anyone who owns the coin is subject to confiscation and prosecution.
However, the 1933 Double Eagle that was sold at auction in 2002 was an exception. The US government allowed the sale of the coin because it was the only legal example of a 1933 Double Eagle in private hands. The coin was sold for $7.59 million, making it the most expensive antique coin in the world.
Conclusion
The 1933 Double Eagle is the most expensive antique coin in the world, with a value of $7.59 million. The coin is extremely rare and has a rich history. Although it is not allowed to be privately owned, the 1933 Double Eagle that was sold at auction in 2002 was an exception. The coin is a national treasure and is a testament to the beauty and historical significance of coins.
