But then the notorious coin disappeared for over 45 years. President Rooseveltâs executive order regarding gold was issued March 6, 1933. After taking the U.S. off the Gold Standard, President Roosevelt â¦ From United States. However, King Farouk had legally exported his coin before the theft was discovered, and the Secret Service was unable to recover his specimen through diplomatic channels. Top Rated Seller Top â¦ It joined the other ten specimens under the care and protection of Fort Knox. On Monday, April 17, 2017, the united States Supreme Court declined to hear the case of the Langbord-Switt 1933 double eagle $20 gold coins. While these coins were officially introduced in the mid-19th century, they were continuously produced until 7 years after the turn of the 20th century. The St. Gaudens Double Eagle coin was produced during 1907 and 1916, because of WWI, and then re-released during 1920 and 1933, during a period of time when U.S. citizens were obligated to return their gold coins to the treasury. But my outside to behold. There are only 16 to 22 of the Ultra High Relief coins of 1907. The first Double Eagles were issued to the public in 1850. S 4 p o n s M A o G r T 7 Y Y W L e d. 1933 GOLD DOUBLE EAGLE REVERSE PROOF ARCHIVAL EDITION COIN PROOF VALUE $99.95. Those Mint representatives asked if it were possible to take the coins to ascertain their authenticity. Through Switt, nine of the 1933 Double Eagles were tracked down by the feds and eventually destroyed. Would they do the same for a painting or piece of sculpture? (c) Gold coin and bullion earmarked or held in trust for a recognized foreign government or foreign central bank or the Bank for International Settlements. Some Saint-Gaudens Gold Double Eagle facts: Since the $20 gold double eagle coin had twice the value of the $10 gold eagle, these coins were designated âdouble eaglesâ. The reverse shows the side view of an eagle in flight with a rising sun and its rays behind the bird. Gilkes, Paul. His legal team argued that the United States had provided written permission for the coin to be included in a private collection: the export license of 1944. The Secret Service declared the coins genuine and seized them. Judge Marjorie Rendell wrote the dissenting opinion. The 1933 double eagle coin was never officially released into circulation and still considered the pinnacle of gold coins by most avid collectors. After the 1933 Double Eagle was struck, President Franklin Delano Roosevelt took the United States off the gold standard. The 1933 Double Eagle sold for $6.6 million, plus its $20 face value and a 15 percent fee to the auction house–a grand total of $7.6 million. January 2, 1906, saw Saint-Gaudens write to Secretary Shaw, asking whether high relief was practical on coins produced at the Mint. Judge Thomas Hardiman, who wrote the majority opinion, said that the coins were always U.S. government property. Somehow, Philadelphia coin dealer Israel Switt had obtained those 10 coins and sold them to customers. The handful of people who have “owned” specimens of the notorious coin have been famously unlucky. Then in 1944, a specimen, possibly pilfered by a government employee, was inadvertently approved for export to the fabulous collection of King Farouk of Egypt. This way, the accounting books would balance, and nobody would realize that anything was amiss. But what’s so unlucky about owning one of the most coveted American coins struck in the 20th century? One thing is for sure: the Secret Service can't confiscate it anymore! In early 1933, President Franklin D. Roosevelt (cousin of Theodore) issued Executive Order 6102 in an attempt to end the 1930s general bank crisis. Free Insured Sâ¦ According to a report in the New York Times, when the U.S. government discovered that Lot 185 in the Farouk Sale was a 1933 Double Eagle, the Treasury Department requested that it be removed from the auction. The common date Saint-Gaudens Double Eagles include 1908 (No Motto), 1909-S, 1910, 1911-D, 1914-D, 1914-S, 1915-S, 1922, 1924, 1925, 1926, 1927, and 1928. Just days earlier, however, King Farouk of Egypt had purchased a different 1933 Double Eagle from a Texas coin â¦ The 1933 Gold Double Eagle was Never Officially Issued The U.S. $20 Gold Double Eagle, Saint-Gaudens type, had been issued from 1907 until 1932. The artist’s initials are found below the date. After all of the specimens had been removed, examined and logged, a Secret Service agent arrested Roy Langbord. Although this was frowned upon by United States citizens, the penalties were steep and most citizens surrendered their coins for paper money. It is not sovereign nor can it be considered sovereign according to the US Constitution therefore it cannot claim ownership of ANY property and ANY and ALL PROPERTY In its clemency is to be considered PUBLIC PROPERTY. Another competitor for the world's most expensive coin may be the 1822 half eagle ten dollar gold coin. The "eagle", "half eagle", and "quarter eagle" were specifically given these names in the Act of Congress that originally authorized them. Langbord knew all of this when he and his father agreed to consult a lawyer about what to do. The 1933 Double Eagle sold at auction on July 30, 2002, for $6.6 million, plus the 15% buyer's fee, which brought the total cost to the buyer to $7,590,000, plus $20 to monetize the coin and compensate the Mint for the $20 it believes it lost when the coin was thought to have been stolen. The 1933 coins made their way into the hands of various dealers across the country. The coins, stored in a crumpled department store bag, were all made of gold. Although 445,500 Double Eagles had been minted with the 1933 date, not one was released into circulation because of changes made to currency laws during the Great â¦ A second set of dies was created, and over 12,000 of those “High Relief” coins were minted and released into circulation. Langbord said they were told they could be taken for a short time, “but we never gave them carte blanche.”. Many consider Saint Gaudens Double Eagles the most beautiful coin in history. Therefore the 90-day time limit that typically applies to forfeited items did not apply. TENSOR LIGHT - used by many numismatists to examine and grade coins. Due to public outcry over its omission, Congress legally ordered the motto to be included. Unaware of the legal status of these coins (or perhaps just a bit too trusting of the government) she sent all ten specimens to the U.S. Mint to have them authenticated. A 1927 Saint graded MS 64 Secure by PCGS realized $1,560.00 at Heritage. A report published by Reuters said that Switt’s descendants were “the family of a thief” in the eyes of the government. The money from the sale was split evenly between the U.S. government and Fenton. The issuance of the coin was a result of a monetary initiative introduced by President Theodore Roosevelt to beautify American coinage. or Best Offer. April 19, 2002. This began a decade's protracted legal fight between the government and the Langbord. Before I answer that question, let me tell you a story about the collaboration of a dying artist and one of our country’s most colorful presidents. Among the selection were several gold coins placed snugly in 2×2 manila coin envelopes marked ‘LLDE’. Get DIY project ideas and easy-to-follow crafts to help you spruce up your space. The government confiscated several of them, and only one is legal to own. This is a replica of a famous St. Gaudens $20 gold double eagle, or $20 piece. “Collecting Saint Gaudens, Parts I, II, III, IV, V”, NGC.com. A double eagle is a gold coin of the United States with a denomination of $20. Above the eagle at the rim is “UNITED STATES OF AMERICA” and directly below that is “TWENTY DOLLARS”. Thus, from a legal standpoint, issues were murky enough to lead to a settlement. Since there would be no more gold currency issued in the U.S., the Mint had melted down the 1933 run of Gold Double Eagles and converted them to gold bullion bars by 1937. On January 24, 2013, Stacks Bowers Gallery sold a 1794 Flowing Hair silver dollar for over $10 million ($10,016,875Â including the buyer's fee). 10 Rarest and Most Valuable Coins in the World, The 1913 Liberty Nickel - The World's Most Hyped Coin. Since the moment it was moved to Fort Knox, the United States Mint Police guarded the coin until after the auction ended. C $25.48. A total of 361,667 of Barber’s revised design were produced by the Mint and released into circulation. These double eagle coins are a great collectors piece or addition to an investment portfolio. When the Secret Service discovered that these coins had surfaced, they confiscated all of them because they were considered to be stolen property of the U.S. Mint. An executive order required all U.S. citizens to return their gold coins to the bank and exchange them for paper money. Get the best deals for 1933 gold double eagle replica at eBay.com. It is the survival rate of each issue that determines rarity. As for the Farouk coin, the United States had to sit on its hands until the Egyptian king was overthrown in 1952 to try to retrieve it. Switt preferred to do business in cash, and had two stand-up safes in his shop in Philadelphia that are still there. The original 2011 jury verdict saw the Mint score a victory. To end the run on the banks and stabilize the economy, President Franklin Roosevelt took America off the gold standard. “It wasn’t until a few weeks after that license was signed that suddenly everyone realized that an awful mistake had been made,” said David Redden, Vice Chairman and Auctioneer at Sotheby’s. As the 1900s dawned, Augustus Saint-Gaudens was a towering figure in the sphere of American fine arts. But the case again swung in the government’s favor. C $127.34. Lastly, Heritage sold a 1925 example graded MS 64 by PCGS for $1,560.00. It has been determined that he was the only Mint employee who had access to the 1933 Double Eagles. It was soon put up for auction. The coin was minted primarily for use in international trade until 1933. It was after his release from jail that Fenton initiated a prolonged legal battle to retain the coin. Guarino, Ben. There is also lengthy legal jurisprudence on this subject and Congress’s power to control property is virtually limitless. The Philadelphia federal appeals court ruled that since the government took too long to respond the Langbords’ claim, the 10 Double Eagles had to be returned to the family. Four years later, however, it appeared that the Langbords had a victory of their own. Roy Langbord knew of the scarcity of the 1933 Double Eagle before the discovery of the family coins. The 445,500 gold coins minted in 1933 were never put into circulation because the U.S. went off the gold standard. The partners also did not like banks. Eventually the Secret Service tracked them all down and destroyed them (except for the Farouk coin). And Switt had good reason not to trust the government. After realizing they had mistakenly granted a license for one of the stolen 1933 Double Eagles, the United States Government requested for the coin to be returned. 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