Millions of coins circulate daily, exchanging hands at their face value. However, some coins possess unique characteristics that elevate their worth far beyond their nominal value, capturing the interest of collectors and investors alike. A prime example is the 1933 $20 Double Eagle coin, which made headlines when it was auctioned for an astounding $18.9 million in 2021. But what makes this coin so valuable? Let’s explore its remarkable features and historical significance.
A Glimpse at the 1933 Double Eagle
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The 1933 $20 Double Eagle is renowned as one of the few surviving gold coins from a pivotal moment in American history. Designed by sculptor Augustus Saint-Gaudens, the coin features stunning imagery that reflects the spirit of its time.
Design Elements
On the obverse side, the coin showcases a powerful representation of Liberty. She stands confidently, holding a torch in her left hand and an olive branch in her right, surrounded by 46 stars and the Capitol building depicted in the lower left corner. The inscriptions “LIBERTY” and “1933” add to its allure.
The reverse side of the coin features a majestic eagle soaring above radiant sun rays. The words “UNITED STATES OF AMERICA” arch across the top, while “TWENTY DOLLARS” and “IN GOD WE TRUST” complete the design at the bottom.
Why is the 1933 Double Eagle Worth Millions?
The extraordinary value of the 1933 Double Eagle coin can be attributed to its rarity and the unique historical context surrounding its production and survival.
A Banned Treasure
In 1933, during the Great Depression, President Franklin D. Roosevelt issued an executive order prohibiting private ownership of gold. This directive compelled citizens to surrender their gold coins in exchange for paper currency, effectively removing the $20 Double Eagle from circulation. By the end of that year, the vast majority of these coins were melted down.
However, a few pieces managed to evade this fate, making them exceedingly rare. Today, only one legally owned 1933 Double Eagle exists in the United States, while two others are held in the collections of the Smithsonian’s National Museum of American History.
Conclusion
The 1933 $20 Double Eagle coin is a fascinating artifact that not only represents a unique moment in American history but also highlights the intersection of art, economics, and numismatics. Its breathtaking design, combined with its rarity due to historical circumstances, has catapulted it to a status of unparalleled value among collectors. As the coin continues to be celebrated for its significance, it stands as a testament to the enduring allure of rare coins in the world of collectibles.