What Does MCMLXXXVI Mean on My Gold Coin? Garrett tells us that the 1927-D is more rare than the 1933. Through Switt, nine of the 1933 Double Eagles were tracked down by the feds and eventually destroyed. And Switt had good reason not to trust the government. On February 29, 1944, one of the 1933 Double Eagles left the United States after being sold to a foreign national by a coin dealer in Texas; that must have been the Farouk coin. Besides U.S. issues, there were also Mexican and ancient Roman coins. All persons are hereby required to deliver on or before May 1, 1933, to a Federal Reserve bank or a branch or agency thereof or to any member bank of the Federal Reserve System all gold coin, gold bullion, and gold certificates now owned by them or coming into their ownership on or before April 28, 1933, with the exception of the following: (a) Such amount of gold as may be required for legitimate and customary use in industry, profession or art within a reasonable time, including gold prior to refining and stocks of gold in reasonable amounts for the usual trade requirements of owners mining and refining such gold. At the Mint, 445,500 of the 1933 Double Eagles were struck, and production did not stop after the president issued his Executive Order. A 1927 Saint graded MS 64 Secure by PCGS realized $1,560.00 at Heritage. Although 445,500 Double Eagles had been minted with the 1933 date, not one was released into circulation because of changes made to currency laws during the Great Depression. She said, ‘Put them back and you deal with it after my death.'”. “I would have the Mint stamp modern versions of those Greek coins in spite of itself,” said Roosevelt, if the honored sculptor would design them. During the years of the legal process, the 1933 Double Eagle rested in a U.S. Treasury vault at 7 World Trade Center (WTC). An executive order required all U.S. citizens to return their gold coins to the bank and exchange them for paper money. Coin Value Us St Gaudens Gold Piece Copy Counterfeit 1933. The "eagle", "half eagle", and "quarter eagle" were specifically given these names in the Act of Congress that originally authorized them. Part of that executive order is presented below: Section 2. Get the best deals for 1933 gold double eagle replica at eBay.com. This site uses Akismet to reduce spam. The spectacular and controversial coin fell under the hammer on Tuesday, July 30, in New York City and obliterated the previous auction record of $4.14 million for a U.S. coin. “The Court’s decision upholds the rule of law and makes clear that the government will be held accountable when it violates the rights of its citizens and the clear mandate of Congress,” Berke wrote to The Washington Post in 2015. It did not become legal tender until the Mint Director signed the relevant documents after the conclusion of the sale. Brothers, Eric. Roosevelt and Saint-Gaudens agreed that the new double eagle should be in high relief, similar to the beautiful gold coins of ancient Greece. Therefore the 90-day time limit that typically applies to forfeited items did not apply. Fare you well. However, by 1952, the Secret Service had confiscated eight more 1933 Double Eagles! From United States. After realizing they had mistakenly granted a license for one of the stolen 1933 Double Eagles, the United States Government requested for the coin to be returned. A second set of dies was created, and over 12,000 of those “High Relief” coins were minted and released into circulation. Free Insured Sâ¦ Would they do the same for a painting or piece of sculpture? “ ‘A high-stakes dispute over ten pieces of gold’: Court reclaims priceless Double Eagle coins for U.S. government”, The Washington Post. He was arrested during the 1930s (sometime after Roosevelt’s proclamation outlawing the private ownership of gold) while carrying a suitcase of U.S. gold coins to the Philadelphia Mint for melting. According to the Coin World interview, Roy suspected that Mint officials had ulterior motives when, in the presence of Secret Service agents, the officials were filming the removal of the coins from their envelopes. The handful of people who have “owned” specimens of the notorious coin have been famously unlucky. It has a unique history related to the Great Depression and even major legal disputes today. Product Description In 1933, the Gold Confiscation Act called for that entire yearâs $20 gold coin mintage to be melted down. 2020 © DISCLAIMER: All content within CoinWeek.com is presented for informational purposes only, with no guarantee of accuracy. Another competitor for the world's most expensive coin may be the 1822 half eagle ten dollar gold coin. But what’s so unlucky about owning one of the most coveted American coins struck in the 20th century? If you ever thought that it would be cool to own a 1933 Double Eagle, think again. It was after his release from jail that Fenton initiated a prolonged legal battle to retain the coin. The 1933 Double Eagle sold for $6.6 million, plus its $20 face value and a 15 percent fee to the auction house–a grand total of $7.6 million. Langbord had an attorney named Barry Berke, who contacted Mint officials to discuss the coins. S 4 p o n s M A o G r T 7 Y Y W L e d. 1933 GOLD DOUBLE EAGLE REVERSE PROOF ARCHIVAL EDITION COIN PROOF VALUE $99.95. Eventually the Secret Service tracked them all down and destroyed them (except for the Farouk coin). CoinWeek Supplies Highlights _______________________________________________________________________. Unaware of the legal status of these coins (or perhaps just a bit too trusting of the government) she sent all ten specimens to the U.S. Mint to have them authenticated. The United States Mint had only begun to strike 1933 $20 Gold Double Eagle coins on March 2, 1933. (c) Gold coin and bullion earmarked or held in trust for a recognized foreign government or foreign central bank or the Bank for International Settlements. Remembering his days working in his grandfather’s store, Langbord recalled that “LL” was “33,” while “DE” was “double eagle.” In total there were 10 envelopes marked “LLDE”, each containing one 1933 Double Eagle. Certainly, keep them out of private hands if necessary – but the melting pot? In fact, Congress has ruled that it is illegal to own a 1933-dated gold piece since â¦ The Philadelphia federal appeals court ruled that since the government took too long to respond the Langbords’ claim, the 10 Double Eagles had to be returned to the family. This way, the accounting books would balance, and nobody would realize that anything was amiss. August 2, 2016. Somehow the agents were led to Israel Switt, who had sold the 10 coins in question. The Post reported that in a 9-3 vote, the federal appeals court ruled for the government’s side. A double eagle is a gold coin of the United States with a denomination of $20. Specifically, the Property Clause found in Article Four. What we do know for sure is that a Philadelphia area jeweler by the name of Israel Switt came into possession of at least 19 of the coins. On January 24, 2013, Stacks Bowers Gallery sold a 1794 Flowing Hair silver dollar for over $10 million ($10,016,875Â including the buyer's fee). The 1933 Double Eagle sold at auction on July 30, 2002, for $6.6 million, plus the 15% buyer's fee, which brought the total cost to the buyer to $7,590,000, plus $20 to monetize the coin and compensate the Mint for the $20 it believes it lost when the coin was thought to have been stolen. It is ironic that while one Roosevelt helped give us the stunningly beautiful Saint-Gaudens Double Eagle, another Roosevelt made it a federal crime to possess one dated 1933. To end the run on the banks and stabilize the economy, President Franklin Roosevelt took America off the gold standard. Garrett, Jeff. He had put them away for safekeeping, and eventually they were secured in a safe-deposit box at a Philadelphia bank. On December 27, 1904, President Theodore Roosevelt wrote the following to Treasury Secretary Leslie Mortier Shaw: “I think our coinage is artistically of atrocious hideousness. (1967-1990), Big Things Have Happened at the United States Mint in the Month of January, Finest Brasher Doubloon, 1804 Plain 4 Eagle Offered by Heritage Auctions, Everything You Need to Know About Washington Quarters, Large Assortment of Haitian Notes to Highlight Stack’s Bowers Jan. 2021 Auction, CSG Grading Service for Sports Cards Launching Soon: NGC.