7.85 million dollar gold coin: The intrigue of the 1933 Double Eagle
Gold coins were a fave among collectors and traders for hundreds of years, however America’s most high priced gold coin, the 1933 Double Eagle, recently reemerged to thieve the spotlight with an envisioned cost of $7.85 million. If you suspect which you too personal a similar uncommon coin, then it is able to be very critical to research the correct manner to identify and affirm it.
Sole account of the 1933 Double Eagle
The 1933 Double Eagle become minted within the US Mint, but it became by no means legally introduced into the marketplace following the Gold Reserve Act. According to that regulation, American residents had been pressured to accept paper money in return for gold coins. Due to this, the bulk of the coins had been melted down, however a number of the cash by hook or by crook escaped destruction.
One of these leftover coins bought for 7.59 million dollars in 2002. And then a Double Eagle in 2021 made records while it offered for $18.9 million — the best-priced coin ever bought.
Historical Significance of the 1933 Double Eagle
The 1933 Double Eagle was created by famous sculptor Augustus Saint-Gaudens and is widely regarded as the most lovely coin in the US. It was first produced in 1907 and has experienced a number of different designs. But the 1933 one is, in fact, the rarest and most unique.
During the Great Depression, the government melted down nearly all the coins of that year for economic reform. Therefore, the supply of the 1933 Double Eagle became extremely scarce and the demand went through the roof.
How to identify real 1933 Double Eagle Gold Coin
This coin is worth so much these days that even its counterfeit copies exist in the market. So, if you think you have this coin, look out for the following:
1. Obverse design
- Lady Liberty standing with torch and olive branch
- 13 stars surrounding it (representing the 13 American colonies)
- Date 1933 at the bottom
2. Reverse design
- Soaring eagle over a rising sun
- “United States of America” and “Twenty Dollars” are inscribed
3. Metal texture
- Composed of 90% gold and 10% copper
- Has a pale yellowish tone
4. Weight and size
- Weight: circa 33.431 grams
- Diameter: circa 34 millimeters
5. Edge texture
- “E Pluribus Unum” is raised on the edge of the coin There is inscription
If you possess such a coin, then for sure have it authenticated by PCGS or a reliable numismatic expert.
Why is the 1933 Double Eagle so valuable
There are quite a few good reasons why this coin is that pricey:
- Very rare — Even now only one coin is legally owned by a private owner
- Historical significance — Symbolizes a time of transformation in America’s economic policies
- Collectors’ demand — Rich collectors across the globe desire to obtain it
- Mint condition — If the coin is in pristine condition, its value rises even further
- Legal status — The majority of the 1933 coins belong to the government, making it even more distinctive
Tips for avoiding fake coins: How to do it
Because such exorbitant prices, counterfeit double eagle coins are also present in the market. Therefore, be careful:
- Purchase certified coins — Always purchase certified coins from institutions such as PCGS or NGC
- Examine the design — Counterfeit coins have blurred or fuzzy designs
- Magnat test — Genuine gold coins don’t stick to a magnet
- Consult the experts — Purchase from a seasoned and genuine dealer
- Request the history of the coin — Request the history of the coin and certificates
How to sell a rare gold coin
If you believe that you possess a valuable gold coin, follow these steps to sell it effectively:
- Get it certified — Have the coin authenticated and graded
- Do market research on the rates — Look up the prices of previous auctions
- Select the correct platform — Opt for big and stable platforms such as Sotheby’s, Heritage Auctions
- Haggle with care — Obtain an expert’s advice Use a broker to obtain the proper price for you
- Insure — Make sure you insure your coin prior to selling or sending it
The Double Eagle of 1933 is not a coin, it’s a living record of the past. You can very well have a treasure in your own hands — you just need to know how to spot it and nurture it.
FAQs
What is the 1933 Double Eagle gold coin worth today?
It can be worth $7.85 million or more, with one example selling for $18.9 million in 2021.
Why was the 1933 Double Eagle never released for circulation?
Due to the Gold Reserve Act, the government recalled and melted most 1933 coins to end gold currency use.
What makes the 1933 Double Eagle so valuable to collectors?
Its rarity, legal status, historical importance, and stunning design all contribute to its exceptional value.
