The entire world of numismatics observed in anticipation on June 8 when Sotheby’s auctioned off one of the most exceptional offerings in the history of American coins. The just 1933 Saint-Gaudens gold $20 double eagle that can be legally owned was sold to some other proprietor who paid more than $18 million.
For a single coin.
This specific coin has an extensive history, such as possession by foreign royalty and legal struggles for survival, that adds intrigue and character and plays a part in its own attraction. Its narrative carries extra weight, allowing it to command great attention and record high pricing.
The U.S. Mint had produced 445,500 dual eagles in 1933, which were to be dispersed as others had earlier into circulation. But in one of his first acts, President Franklin D. Roosevelt declared an effective end to the country’s adherence to the gold standard, prohibited the payout of gold , also limited the personal ownership of some kinds of gold.
According to U.S. Mint’s documents, the entire mintage of 1933 double eagles have been melted together with the exception of two which were shipped to the Smithsonian Museum in Washington, D.C.
However, in 1937, a number of the coins seemed for sale. A 1944 Secret Service analysis determined they had been stolen from the Mint and nine were seized from their owners (nearly nine were later melted).
However, before that analysis, one coin was wrongly awarded an export license when asked by Egypt, whose King Farouk was a coin collector. It became part of his collection, thus making that 1933 Saint-Gaudens double eagle outside the legal jurisdiction of the United States government.
Political chaos in Egypt led to King Farouk’s abdication in the 1950s. He was sentenced to Italy and a lot of his possessions, including his 1933 Saint-Gaudens double eagle, were offered at auction. At the petition of the U.S. government to Egypt, the 1933 double eagle was removed from the auction.
But, the whereabouts of this coin were unknown until British coin dealer Stephon Fenton surrendered the coin to United States authorities in 1996.
A classic hobby stays vibrant
Coins of the country (and several nations of the planet ) are far more than just a way of commerce. They often carry unique legacy, serving as benchmarks to history, achievement and the fibers of the fabric that make up America.
Through the years, they’ve become artifacts of bygone days, emblematic of the good, the bad and the ugly, but consistently true in representation. Such as the 1933 Saint-Gaudens gold $20 double eagle, they all have a story to tell.
Changing times
Since that coin was created, technology has climbed to a premier place as an impetus for”better” Whether it is newer, faster, cheaper, more effective or some other advantageous feature, the role of technology has gotten to a place where you cannot live without it, even when you don’t know it is there.
For the most part, technological advance has combined into the surroundings, often to the point where consumers are either unaware or unconcerned about its presence and function. There is hardly one aspect of our lives which has not changed in the last couple of decades. There are hardly any that won’t last to change as newer technology is tried and proven.
The lure of technologies has driven consumer trends as the newest gadget leads to frenetic buying behaviors. As the nation grew, so did the need to convey.
The apparatus began to bring the world together. Inventive heads were making it simpler, more efficient, and more attractive. Nowadays, a mobile is so multi-functioned that its practically replaces most other devices.
At the palm of the hand, there’s more technology than that which NASA used to program Apollo 11’s successful mission to the moon. The easy hand-held device becomes a vault of customer confidence, as a result of the capabilities caused by the creation of technology.
In the world of numismatics, known to many as coin collecting, shifting times make it compulsory to adapt to be successful, whether your interest is just as a company or as a pastime.
Searching for treasure in exchange received from a cash purchase has turned into a passé practice. The coins which carry the most value and attraction are tucked away in dresser drawers and jewellery boxes or areas unknown.
A committed coin collector not only faces a reduced a source of desired coins, but always the threat of fakes and misrepresented coins touted to be better than they are from unscrupulous vendors. If there has ever been a time when above-board ethics, trust and reliability have been needed, now is the time.
“Counterfeiting and piracy is internationally projected to reach $2.8 trillion in 2020.”
Source: ICC, OECD, Vandagraf International
Coin World introduces Coin World+ program
The technology found in today’s mobile phone holds the key to establishing the confidence and trust needed for a coin collector to have a decent experience. Coin World, a major print and digital publication for 60 years in the area of numismatics, has produced a new service called Coin World+, which gives coins a”voice” while establishing the legacy of the merchandise.
