The 1933 Saint-Gaudens Gold $20 Double Eagle is a coin with a fascinating history and remarkable value. It’s often regarded as one of the rarest coins in the world. Originally minted in 1933, this gold coin was intended for public circulation, but most of the coins were never released due to changes in U.S. monetary policy during the Great Depression. Today, only a few are known to exist, making it a prized item among collectors. Let’s explore the story behind this coin, its design, rarity, and why it’s considered one of the most valuable coins ever.
History of the 1933 Saint-Gaudens Double Eagle
The 1933 Double Eagle was part of the Saint-Gaudens series, named after Augustus Saint-Gaudens, a famous sculptor who designed the coin. The series was meant to replace the previous $20 Liberty gold coins. However, 1933 was a challenging time in U.S. history. Due to the Great Depression, President Franklin D. Roosevelt took the country off the gold standard, and gold coins were no longer used in daily transactions.
All 1933 Double Eagles were supposed to be melted down after the gold standard was abolished. However, a few coins managed to escape this fate, making them extremely rare and illegal to own without special permission.
Design and Features of the 1933 Double Eagle
The design of the 1933 Double Eagle is considered one of the most beautiful in U.S. coin history. Here’s a breakdown of its key features:
- Obverse (Front): The front of the coin shows Lady Liberty holding a torch in her right hand and an olive branch in her left, symbolizing freedom and peace. She stands in front of a rising sun, with “LIBERTY” inscribed at the top and the year “1933” below.
- Reverse (Back): The reverse features a majestic eagle soaring above the sun, with the inscriptions “UNITED STATES OF AMERICA” and “TWENTY DOLLARS.” It also includes the words “IN GOD WE TRUST.”
The coin has a diameter of about 34 mm and weighs roughly 33.4 grams. It’s composed of 90% gold and 10% copper, giving it a rich golden appearance.
Rarity and Value of the 1933 Double Eagle
The rarity of the 1933 Double Eagle is what makes it so valuable. Here’s why it stands out:
- Limited Number: While around 445,000 coins were minted, nearly all were melted down before they could enter circulation. Only about 13 coins are known to exist today.
- Legal Issues: Because the coins were not supposed to be released, any privately owned 1933 Double Eagles were technically considered illegal to own for many years. However, one coin was sold legally in 2002 for over $7.5 million after a lengthy legal battle, making it the most expensive coin ever sold at the time.
- Auction Records: In 2021, a 1933 Double Eagle broke its previous record when it sold for $18.9 million at an auction, becoming the world’s most valuable coin.
Why the 1933 Double Eagle is So Prized
Collectors and investors are drawn to the 1933 Double Eagle not just for its value, but for its story. The coin represents a pivotal moment in U.S. history, when the country shifted away from gold-backed currency. It also symbolizes the mystery and allure of rare coins—many wonder how a few escaped melting and found their way into private hands.
The 1933 Double Eagle is a piece of history, art, and mystery all rolled into one, which explains why it commands such high prices at auctions and remains a dream for numismatists (coin collectors).
Table: Quick Facts about the 1933 Saint-Gaudens Double Eagle
| Feature | Details |
|---|---|
| Year Minted | 1933 |
| Designer | Augustus Saint-Gaudens |
| Metal Content | 90% Gold, 10% Copper |
| Weight | 33.4 grams |
| Diameter | 34 mm |
| Number Minted | 445,000 (nearly all melted down) |
| Known to Exist | Approximately 13 |
| Record Sale Price | $18.9 million (2021) |
| Legality of Ownership | Restricted, with only a few exceptions |
| Design | Lady Liberty on obverse, flying eagle on reverse |
Conclusion
The 1933 Saint-Gaudens Gold $20 Double Eagle is more than just a coin; it’s a historical artifact. Its beauty, coupled with its rarity and the intriguing story of how a few coins escaped destruction, makes it a treasure in the numismatic world. This coin represents a time when the United States was grappling with economic change, making it a symbol of resilience and transition. For collectors, owning such a piece is like holding a piece of history in their hands.
FAQ’s
1. Why is the 1933 Double Eagle illegal to own?
The U.S. government ordered the melting of all 1933 Double Eagles after the country abandoned the gold standard. Coins that escaped are considered illegal to own without special permission from the government.
2. How many 1933 Double Eagles are known to exist today?
Approximately 13 are known to exist, with only a few being legally held in private collections.
3. What makes the 1933 Double Eagle so valuable?
Its value comes from its rarity, the historical context of its minting, and its limited availability, with the most recent sale reaching $18.9 million.
4. Who designed the 1933 Double Eagle?
The coin was designed by Augustus Saint-Gaudens, a renowned sculptor who was commissioned to improve U.S. coin designs.
5. Can the public see a 1933 Double Eagle?
Yes, a few of these coins are displayed in museums, such as the Smithsonian Institution, where people can appreciate their design and history.