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This week, a particularly rare U.S. gold dollar coin was Auctioned for a record $18.9 million. Fashion magnate and coin collector Stuart Weitzman sold his $20 "Double Eagle" from 1933, a particularly rare coin of which only one copy would still be in circulation. The coin is rare because in that year the U.S. government restricted the private ownership of gold and withdrew the gold dollar coins from circulation.
President Roosevelt signed in the spring of 1933 Executive Order 6102, as a result of which all Americans had to surrender their gold. The government also melted down all the gold dollar coins from that year, of which only one copy remained. That coin was owned by the Farouk of Egypt for a long time, but it came into the hands of the fashion mogul in 2002. He paid a record $7.59 million for it at the time. In just under twenty years, this rare gold dollar coin has more than doubled in value.
The $20 Double Eagle At the time of the gold standard, it was legal tender with a face value of twenty dollars. The U.S. Mint produced these gold coins from 1849 to 1933. These coins contain almost 1 troy ounce of gold (30.09 grams) and have a purity of 90%. In addition to the $20 Double Eagle, smaller coins of $10 (Eagle), $5 (Half Eagle) and $2.5 (Quarter Eagle) have also been in circulation.
Despite the gold confiscation of 1933, there are still many gold dollar coins to be found. Some years are relatively rare and have a high premium on top of the Gold price, other dates can be found in large numbers and have a small premium. These gold coins are still popular as investment coins due to their beautiful design and history.
This contribution was made from Geotrendlines
