The 1933 Saint-Gaudens Double Eagle is without doubt one of the world’s most well-known and beneficial cash, famend for its rarity, historic significance, and wonder.
Celebrated sculptor Augustus Saint-Gaudens designed the $20 coin on the request of President Theodore Roosevelt, who needed to beautify U.S. coinage. Roosevelt sought a design that mirrored the grandeur and energy of america. First minted in 1850, Saint-Gaudens’ design was launched in 1907 and is broadly considered some of the lovely cash ever minted.
The Design
The coin’s obverse (“entrance”) incorporates a beautiful picture of Woman Liberty striding ahead, holding a torch in a single hand and an olive department within the different. She is depicted in a flowing robe, with the U.S. Capitol constructing within the background. Rays of daylight burst from behind her, and 46 stars encircle the sting of the coin, representing the variety of U.S. states on the time of the design. The yr of minting (1933) seems within the backside right-hand nook. The reverse (“again”) reveals an imposing American eagle in flight, with the solar rising behind it. The phrases’ UNITED STATES OF AMERICA’ and ‘TWENTY DOLLARS’ are inscribed across the eagle, together with the motto ‘IN GOD WE TRUST.’ Saint-Gaudens’ signature fashion of deep reduction and complicated element is clear on each side of the coin.
The Demise
Regardless of its recognition, by 1933, the U.S. was within the grip of the Nice Melancholy. In March 1933, newly elected President Franklin D. Roosevelt issued an government order banning the non-public possession of gold, and the U.S. deserted the gold customary to forestall a run on gold reserves. Because of this, the 1933 Double Eagles that had been minted had been by no means formally circulated. After Roosevelt’s gold recall, almost all 445,500 Double Eagles minted in 1933 had been ordered to be melted down. Solely two cash had been formally approved for the Nationwide Numismatic Assortment on the Smithsonian Establishment. Regardless of the recall, about 20 cash had been recognized to have been stolen or secretly obtained by collectors. Through the years, many of those cash had been seized by the U.S. Secret Service and returned to the U.S. authorities.
At Public sale
One notably well-known coin ended up within the assortment of King Farouk of Egypt. This coin was legally exported earlier than the U.S. authorities realized it had escaped the melting course of. After years of authorized battles, it was ultimately offered at public sale in 2002, changing into the primary (and solely) 1933 Double Eagle legally owned by a non-public citizen. The King Farouk 1933 Double Eagle was offered at Sotheby’s in 2002 for an astounding $7.59 million, making it some of the costly cash ever offered at the moment. The customer needed to pay a symbolic $20 along with the public sale worth to personal the coin legally, satisfying its standing as authorized tender.
The place are They Now?
In 2004, ten extra 1933 Double Eagles had been discovered within the possession of the household of a Philadelphia jeweler, Israel Switt. The U.S. authorities seized these cash, and a authorized battle ensued over their possession. In 2011, a federal court docket dominated in favor of the U.S. authorities, and the cash stay in authorities custody. In a record-breaking sale, one other 1933 Double Eagle (the identical one from the 2002 public sale) was offered by Stuart Weitzman in 2021 for $18.9 million—setting a brand new world report for the costliest coin ever offered at public sale.
Possession
Formally, the 1933 Saint-Gaudens Double Eagle is prohibited to personal, apart from the coin offered at public sale in 2002 and once more in 2021. All different recognized examples are both within the Smithsonian or beneath the management of the U.S. authorities. The U.S. authorities has maintained that every other 1933 Double Eagles that come to gentle are stolen property, and they are going to be seized by authorities.
Historic Emblem
The 1933 Saint-Gaudens Double Eagle is not only a uncommon coin; it represents a pivotal second in U.S. financial historical past, marking the nation’s departure from the gold customary and the federal government’s intervention in non-public gold possession. Its affiliation with the Nice Melancholy, President Roosevelt’s insurance policies, and its subsequent authorized battles add to its mystique and attract amongst collectors and historians. Past its financial worth, the coin symbolizes a bygone period and a relic of a transformative interval in U.S. monetary coverage.
Conclusion
The 1933 Saint-Gaudens Double Eagle is a numismatic legend, combining rarity, historic significance, and inventive magnificence. Its journey from the U.S. Mint to personal collections—and the authorized battles that adopted—makes it some of the intriguing and sought-after cash in historical past. Just one instance stays legally owned by a non-public particular person, with the remainder within the fingers of the federal government or museums, securing its standing as a genuinely one-of-a-kind artifact.
