The 1933 Saint-Gaudens Double Eagle is not just any gold coin; it is a remarkable artifact that embodies a unique story of artistry, rarity, and historical significance. This coin stands out not only for its striking design but also for its tumultuous history during a critical time in American history. In this article, we will explore its historical background, design features, rarity, legal controversies, and cultural importance.
Historical Background
Minted during the early years of the Great Depression, the 1933 Double Eagle faced a challenging environment. As economic turmoil gripped the nation, President Franklin D. Roosevelt implemented significant measures to stabilize the economy. In 1933, he ordered all gold coins, gold bullion, and gold certificates to be exchanged for U.S. dollars to prevent hoarding and encourage the circulation of currency.
Due to this order, the U.S. Mint destroyed nearly all of the 1933 Double Eagles, making the few that survived exceedingly rare.
Design of the Coin
The 1933 Saint-Gaudens Double Eagle is renowned for its stunning design, which reflects national values and artistic achievement.
| Aspect | Details |
|---|---|
| Obverse | Features Lady Liberty walking confidently, holding a torch in her right hand and an olive branch in her left, symbolizing freedom and peace. |
| Reverse | Displays a soaring bald eagle surrounded by rays of sunlight, representing strength and freedom. |
| Composition | Made of 90% gold and 10% copper, giving it a bright golden color. |
| Dimensions | Diameter: ~34 mm; Weight: ~33.43 grams (1.09 ounces); Face value: $20. |
Rarity and Value
The 1933 Double Eagle is among the rarest coins in the world. Experts estimate that only 13 to 15 surviving coins exist today. This rarity significantly boosts their value, making them highly sought after by collectors. In July 2021, one of these exceptional coins was sold at auction for an astonishing $19.3 million, setting a record as the most expensive coin ever sold.
Legal Controversies
The story of the 1933 Double Eagle is also marked by legal complexities. Since most of these coins were never officially released for public use, they are technically considered illegal to own. However, in 1996, a particular coin was allowed to be owned legally after a lengthy court battle. This landmark decision opened the door for the coin to be sold, adding another layer to its fascinating narrative.
Cultural Significance
The 1933 Saint-Gaudens Double Eagle transcends its value as currency; it serves as a powerful symbol of a pivotal moment in American history. The coin reflects the struggles of the Great Depression and the government’s attempts to recover the economy. Its beautiful design showcases the significance of coinage as part of cultural heritage, highlighting artistic achievement and national values.
Conclusion
The 1933 Saint-Gaudens Double Eagle is more than just a piece of currency; it embodies a rich tapestry of American history and artistry. Its rarity, stunning design, and the stories it carries make it a highly coveted item among collectors and historians alike. Understanding the background of this remarkable coin enhances our appreciation of its place in history and the world of numismatics. Whether you are an avid coin collector or simply curious, the story of the 1933 Double Eagle offers a captivating glimpse into America’s past.
FAQ’s
Why is the 1933 Saint-Gaudens Double Eagle so rare?
The 1933 Double Eagle is rare because most of the coins were melted down following President Franklin D. Roosevelt’s order to exchange gold for U.S. dollars during the Great Depression. Only about 13 to 15 coins are believed to have survived.
What is the significance of the design on the coin?
The coin features Lady Liberty on the obverse, symbolizing freedom and peace, and a soaring bald eagle on the reverse, representing strength and freedom. Its design reflects important national values and showcases artistic achievement in coinage.
How much has a 1933 Double Eagle sold for at auction?
In July 2021, one of the rare 1933 Double Eagles was sold for an astounding $19.3 million at auction, making it the most expensive coin ever sold. Its rarity and intriguing history significantly contribute to its value.