2021-06-09 Wed

A couple of days ago, a gold Double Eagle coin from 1933 was auctioned for a record amount of USD 19.5 million at New York. The Gold Double Eagles coins are coins of mystery and intrigue and had been issued from 1907 until 1932. However, 1933 were the last minting off these coins as they were withdrawn from the circulation because of changes made to currency laws during the Great Depression.

In the year 1933 a lot of 445,500 Double Eagle coins was ready to put into the circulation but, President Franklin Roosevelt took America off the gold standard to end the run on the banks and stabilize the economy. Not only were no more gold coins to be issued for circulation, but people also had to turn in the ones they had.

Though 1933 Double Eagles were ordered to be destroyed some of them escaped the Melt Down and one of them has been put in the Sotheby’s auction in New York. It was estimated that the coin will fetch 10 -15 million USD. However, the coin brought the amazing price of 19.5 million USD. Designed by American sculptor Augustus Saint-Gaudens the coin features an American eagle in flight on one side and the image of a woman embodying freedom on the other.

Image Courtesy: vcoins.com