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thatcoinguy's Blog

30 Aug 2021

The St. Gaudens 1933 Double Eagle: Part Two

Coins | thatcoinguy

The US realized their mistake around 1952, and requested the coin back. But World War II happened, and the return was delayed. Then, many of King Farouk's coins were auctioned off, one of which was the 33' double eagle. The US asked once again for the coin, and authorities in Egypt said they would comply, but the coin vanished. Until 1996.

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26 Aug 2021

The St. Gaudens 1933 Double Eagle: Part One

Coins | thatcoinguy

Originally, the 1933 double eagle was supposed to be a common circulating coin in commerce. There were 445,500 originally made in 1932, and they were set to release in early 1933. But before they could be released, the current president at the time (Franklin Delano Roosevelt), signed Executive Order 9102, in an attempt to end the 1930s bank crisis, which was caused by hoarding of coins. It outlawed the possession of gold coins made for circulation, with an exception for pieces made for collectors. All of the 1933 double eagles were supposedly melted except for two, which went to the Smithsonian National Institute. Were they all melted? Unbeknownst to the general public, 20 more of the gold coins (probably stolen by the US Mint chassier) survived and ended up in the hands of coin dealer Israel Switt, who sold the coins off individually to collectors.

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