The 20 dollars from 1933 is among the rarest gold coin. Its fascinating story follows the great depression and crashes of 30’s years.
If I told you that with only 33.431 grams of gold, you would not have any financial problem for the rest of your life … What do you think ?
This is the story of one of the most famous pieces in gold in the world. I named the … $ 20 Double Eagle 1933.
Old coins ‘s design from the United States was outmoded for over 50 years. Theodore Roosevelt wanted to make the money a splendid object. He enunciated in these terms:
“I would cause in the minds of people more enthusiasm for our national currency, so that they know what they have in their hands.”
Augustus Saint Gaudens then created the sublime current design of the gold coins : Miss Liberty, walking toward the sunrise.
Later, the discovery of gold in California twirled workshops currency strikes at full speed. This creation of money supply revived the excitement of the people for dollars. Indeed, the first American gold coins were minted in 1849, coinciding with the rushed to gold …
And it should not be more than two weeks at the time to a worker at the average wage to pay for a $ 20 gold !
But in 1930, the Great Depression hit full whips the United States. The Krach Boursier causes fear and latourmente in the US financial system. President Franklin Roosevelt decided to prohibit to own gold in its decree of 1933.
In the same year 445,500 Double Eagle were minted by the US Mint. All were melted because of the new law in effect. These coins there were therefore never circulated fraudulent … but hands foundry crucibles saved a little more than twenty of them.
• Two specimens were entrusted to the Smithsonian Institution.
• One of them is on display at the National Museum of American History
• King Farouk of Egypt, tireless coin collector obtained an export visa for one of them. Its well were seized after the coup of 1952 and the Golden Eagle resurfaced.
After circulating from hand to hand, the part is finally sold at Sotheby’s auction for the modest sum of …
7.59 Million dollars !
The $ 20 Double Eagle gold from 1933 represents well the end of the enthusiasm that people had had the paper money … and the beginning of a story along for a piece intended to be a simple currency trading !
Below amateur video of the auction of $ 20 King Farouk