Remember Me
forgot your password?

The 1933 Double Eagle

The 1933 double eagle (United States 20-dollar gold coin) currently holds the record for highest price paid at auction for a single U.S. coin when it was purchased for US$7.59 million. 445,500 specimens of this Saint-Gaudens Double Eagle were minted in 1933, the last year of production for the Double Eagle, but no specimens ever officially circulated and nearly all were melted down, due to the discontinuance of the domestic gold standard in 1933.
Production of the 1933 double eagle
In order to end the 1930s general bank crisis, U.S. president Franklin D. Roosevelt issued Executive Order 6102 in 1933 and the Gold Reserve Act in 1934, which outlawed the circulation and private possession of United States gold coins for general circulation, with an exemption for collector coins. This act declared that gold coins were no longer legal tender in the United States, and people had to turn in their gold coins for other forms of currency. The 1933 gold Double Eagles were struck after this executive order, but because they were no longer legal tender, most of the 1933 gold coins were melted down in late 1934 and some were destroyed in tests. Two of the $20 double eagle were presented by the United States Mint to the U.S. National Numismatic Collection, and they were recently on display in the "Money and Medals Hall" on the third floor of the National Museum of American History.
These two coins should have been the only 1933 Double Eagle coins in existence. However, unbeknownst to the Mint, a number of the coins (20 have been recovered so far) were stolen, possibly by the U.S. Mint Cashier, George McCann. At least nine of these coins, which were illegal to possess, found their way via Philadelphia jeweler Israel Switt, into the hands of collectors.
The coins circulated amongst collectors for several years before the Secret Service became aware of their existence. The matter came to the attention of Mint officials when an investigative reporter looked into the history of the coins and contacted the Mint as part of his research, as a result of which an official investigation was begun by the Secret Service in 1944. Seven of the coins were discovered and turned over to federal agents (or seized) within the first year of the investigation, with one coin remaining in public possession until 1952

Rate this Article: 0 / 5 stars - 0 vote(s)
Print Email Re-Publish

Add new Comment



Captcha

  • Latest Hobbies Articles
  • More from lee williams

Fly Fishing Rods

By: Chris Slattery | 12/11/2009
Article on fly rods

The Essential Model Railroad Track Plans

By: David Blackburn | 12/11/2009
While there are many different model railroad track plans you can choose from, there are some which most model railroaders will consider the base models. These track plans are something which most every modeler has built at some point, or has seen built in many different ways. Some prefer to stick to one kind of layout rather than switching back and forth between different types. This is a decision you will have to make for yourself in order to decide which is best for you.

Why boys love toy model trains?

By: Philip Redfearn | 12/11/2009
When it comes to hobbies for boys, nothing can beat toy model trains. This is a hobby and tradition than goes back decades. These days you will find men from all age groups collecting and playing with model train sets.

How to set up landscape and water features for model railway trains

By: Philip Redfearn | 11/11/2009
If you are starting to get involved with model railway trains then you need to know about building landscapes and water features. These are two of the essential elements in any great looking model railway layout. Even a great track layout will look bland without the correct landscape in place.

Radio Controlled Cars - Fun For All Ages

By: Kasan Groupe | 11/11/2009
If you are planning on buying a radio controlled car or truck for your child, you will want to know what is the best option to go with. Because there is such a wide variety of products available, this article aims to try and make your RC car choice easier.

Butane Lighters and Fuel Usage

By: Dylan Sabot | 11/11/2009
Many individuals who prefer to purchase reusable products have moved from fluid-filled lighters to a butane lighter. These devices are cleaner-burning, impart no taste to tobacco and come in designs that are as windproof as their fluid-filled cousins.

Pool Cue Maintenance Accessories

By: Fiona Jones | 11/11/2009
Pool cues are tapered sticks and a sporting equipment used to hit the cue ball during games of billiard, snooker etc. Pool cues require a lot of maintenance and there are a number of accessories that can be used in the maintenance of these sticks.

Pool Cue Maintenance Accessories

By: Fiona Jones | 11/11/2009
Pool cues are tapered sticks and a sporting equipment used to hit the cue ball during games of billiard, snooker etc. Pool cues require a lot of maintenance and there are a number of accessories that can be used in the maintenance of these sticks.

The Dime

By: lee williams | 10/11/2007 | Hobbies
The dime is a coin worth ten cents, or one tenth of a United States dollar. The dime is the smallest in diameter and the thinnest of all U.S. coins currently minted for circulation.

The 1933 Double Eagle

By: lee williams | 10/11/2007 | Hobbies
The 1933 double eagle (United States 20-dollar gold coin) currently holds the record for highest price paid at auction for a single U.S. coin when it was purchased for US$7.59 million.

Gangs in England

By: lee williams | 08/11/2007 | News & Society
Gangs in England are active in several cities, most notably in the larger cities such as London, Manchester, Birmingham and more recently in areas of Bradford and Liverpool.

Domestic Violence

By: lee williams | 08/11/2007 | News & Society
Domestic violence (sometimes referred to as domestic abuse) occurs when a family member, partner or ex-partner attempts to physically or psychologically dominate another

Hooliganism

By: lee williams | 08/11/2007 | News & Society
Hooliganism refers to unruly and destructive behavior.

Professional Coin Grading Service

By: lee williams | 13/10/2007 | Hobbies
The Professional Coin Grading Service (PCGS) is a third-party appraisal service for grading rare coins.

First Strike Coins

By: lee williams | 13/10/2007 | Hobbies
The U.S. Mint has no First Strike program for the minting and distribution of its coins. However, the Mint sometimes does "first strikings" of new coins

Online Advertising and Google Adsense

By: lee williams | 03/10/2007 | Advertising
online advertising with adsense and how this tool can drive sales to your site

Submit Your Articles Free: Signup
Article Categories




Use of this web site constitutes acceptance of the Terms Of Use and Privacy Policy | User published content is licensed under a Creative Commons License.
Copyright © 2005-2008 Free Articles by ArticlesBase.com, All rights reserved. (0.46, 6, w1)