1933 Gold Double Eagles Still In The News
Currently there is only 1 1933 St Gaudens Gold Double Eagle coin in the world that is legally available to be owned and sold and that is the world’s most valuable coin with an estimated worth of over $8 million. What makes this coin so unique is the story behind it and the simple fact that there is only 1 1933 coin available.
However, all that could change if the Pennsylvania Joan Langboard family gets their way and has 10 of these ultra rare coins returned to them after the Secret Service seized them in 2004 while the owners were trying to have them authenticated. Recently PNG has filed an Amicus Brief in the case challenging the government’s stance that these coins are not legal tender.
PNG’s position is that:
WHETHER 1933 DOUBLE EAGLES ARE “UNITED STATES COINS” DOES NOT DEPEND ON WHETHER THEY WERE LEGAL TENDER WHEN THEY WERE MADE
Because:
THE GOVERNMENT’S PAST PRACTICE WITH RESPECT TO ALL OTHER NON-ISSUED COLLECTIBLE COINS IS INCONSISTENT WITH ITS POSITION IN THIS CASE
I’d have to say the PNG certainly has a point however, if these coins are returned to their owner and consequently made into legal tender it could have a negative effect on the price of the Kink Farouk gold coin that was sold back in 2002 for $7.6 million.
These coins will still be worth millions because of their rich history and extreme scarcity, but probably not anywhere near the $7.6 million price. Obviously 10 of these coins at that price would sell for over $75 million. If these coins are eventually returned to the family that claims ownership, they will definitely be a valuable treasure and who knows, maybe one day they will be up for sale. If that happens and you plan on grabbing one of these treasures, you better have very deep pockets.
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