Friday, August 26, 2005

1933 Double Eagle

The U.S. Mint seized 10 1933 Double Eagle gold coins, the 1933 Double eagle coins are some of the rarest and most valuable gold coins in the world, when Joan Langbord a Jeweller sort their authenticity from the U.S. Mint.

Joan Langbord plans a federal court lawsuit to try to recover the double eagles, her attorney, Barry Berke said. Ms. Langbord found the coins among the possessions of her father, who operated an antiques and jewellery shop for 70 years and died in 1990 at 95. Ms. Langbord now operates her father's business.

In 2002, a 1933 Double Eagle coin was auctioned for $7.59 million (U.S.), the highest price ever paid for a coin. That Double Eagle, which is believed to have been part of a collection belonging to King Farouk of Egypt, surfaced when a coin dealer tried selling it to undercover Secret Service agents.

After a legal battle, the gold coin dealer was permitted to sell the coin at auction on the condition he split the proceeds with the Mint.

Double Eagle gold coins were first minted in 1850 with a face value of $20. The 445,500 gold coins minted in 1933 were never put into circulation because the U.S. went off the gold standard. All the coins were ordered melted down, but a handful are believed to have survived, including two handed over to the Smithsonian Institution.

Read more about the 1933 Double Eagle.