Saint Gaudens 1933 double eagle

1933 st. gaudens double eagle

In late 1929, the US stock market collapsed, and the Great Depression began. Unemployment increased six fold while overall industrial production was halved. Despite this, millions of double eagles were minted between 1929 and 1933. Most, however, were held in the treasury and not released into circulation.

In 1933, 445,500 double eagles were minted. Franklin Roosevelt then issued an order prohibiting banks from paying out gold as well as all private ownership of gold. Most coins minted in 1929 and later were melted including nearly all from 1933. However a few of them escaped. The United States government has been confiscating virtually all 1933 double eagles saying that they were stolen from the mint.

The government permitted the sale of a single 1933 double eagle that was apparently legally given to King Farouk of Egypt. The coin was auctioned in 2002 for $7,590,020. Other 1933 Saints probably exist, but will never surface for fear the government will seize them.

 

confiscation of 1933 double eagles

The case, Roy Langbord vs. United States Department of the Treasury involves ten 1933 double eagles . The Langbord family stated that they discovered the double eagles in a safe deposit box belonging to their grandfather, Israel Switt. Read about the case of the confiscated double eagles here.

St. Gaudens

St. Gaudens information

Teddy Roosevelt liked the design of the ten dollar eagle but made one radical suggestion: Add an Indian headdress.

How much do Saint Gaudens double eagles cost? Go to the Saint Gaudens auction page to find out.

Neither Augustus St. Gaudens nor Teddy Roosevelt wanted the words In God We Trust on the coins. Click on the link to find out why.

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