The 1933 Saint-Gaudens Double Eagle is one of the most famous coins in American history. Originally valued at just $20, this coin now holds a record-breaking value of over $18 million. Its fascinating history, unique design, and legal battles have made it a true collector’s gem. This coin stands out not just for its value, but for the story behind it.
The Design and Creation of the 1933 Saint-Gaudens Double Eagle
The 1933 Saint-Gaudens Double Eagle was designed by Augustus Saint-Gaudens, one of the most prominent sculptors of the time. The design features Lady Liberty holding a torch and an olive branch on one side, symbolizing peace and freedom. On the reverse side, a majestic eagle in flight is depicted, showcasing the strength and power of the United States.
This coin was created during a difficult period in U.S. history, particularly the Great Depression. Despite being minted in large numbers, none of the 1933 coins were officially released into circulation due to a government decision led by President Franklin D. Roosevelt. His executive order aimed to address the economic challenges of the Great Depression by stopping the use of gold coins.
The Rarity and Controversy Surrounding the 1933 Coin
Although the U.S. government ordered the melting down of most of the 1933 Saint-Gaudens Double Eagles, a few coins somehow found their way into private hands. This led to a long series of legal battles over whether these coins could legally be owned. The government argued that the coins were never meant to be in circulation, making them illegal to possess.
This controversy only added to the coin’s mystique and value. The rarity of the 1933 Saint-Gaudens Double Eagle, combined with its intriguing backstory, made it highly desirable to collectors and investors around the world.
The Historical Significance of the Coin
The 1933 Saint-Gaudens Double Eagle represents a significant shift in U.S. monetary policy. It was among the last gold coins issued before the country abandoned the use of gold as legal tender. This marked the end of an era for gold coins in the United States and the beginning of a new chapter in the country’s currency system.
The coin’s creation, banishment from circulation, and eventual auction sales symbolize a fascinating intersection of art, economics, and politics. It is a physical reminder of the nation’s economic struggles and the artistic skill that went into designing currency.
Auction Record: The 1933 Saint-Gaudens Double Eagle’s $18.9 Million Sale
The 1933 Saint-Gaudens Double Eagle made history in June 2021 when one of the coins was auctioned at Sotheby’s for an astounding $18.9 million. This sale set the world record for the most expensive coin ever sold at auction, cementing the coin’s place in history as one of the most coveted collector’s items.
The auction highlighted the enduring appeal of this rare coin, which has only increased in value over time. Its sale also reflected the growing interest in rare and valuable coins as long-term investments.
Why the 1933 Saint-Gaudens Double Eagle is So Valuable
The main factors driving the value of the 1933 Saint-Gaudens Double Eagle include its rarity, historical significance, and legal battles. The coin’s design, which was crafted by the highly respected Augustus Saint-Gaudens, adds an artistic element that enhances its worth.
Additionally, the fact that only a few of the 1933 coins survived the government’s melting process makes it an exceptionally rare find. The ongoing legal disputes surrounding the ownership of the coins have also added to their allure, making them even more attractive to collectors and investors alike.
The Legacy of the 1933 Saint-Gaudens Double Eagle
The 1933 Saint-Gaudens Double Eagle is more than just a valuable coin. It is a symbol of resilience and change. From being a $20 piece of legal tender to becoming a multi-million dollar collector’s item, this coin has gone through an incredible journey.
The legacy of this coin is not only measured by its financial worth but also by the role it played in shaping U.S. monetary policy. It serves as a reminder of the country’s economic challenges and the historical shifts in how currency was managed. It also represents the powerful connection between art and money, showing how the design of a coin can influence its lasting importance in history.
Conclusion: Why the 1933 Saint-Gaudens Double Eagle Continues to Captivate
The 1933 Saint-Gaudens Double Eagle is much more than a rare coin—it is a testament to the dynamic history of the United States. Its journey from a $20 piece of currency to an $18 million collectible highlights its importance in both numismatics and U.S. history. Whether you are a coin collector, an investor, or a history enthusiast, the story of this coin continues to captivate people around the world.
This coin’s high auction value reflects not just its rarity, but also its historical significance. Its story reminds us of the economic struggles of the 1930s and how a coin designed for ordinary use became a priceless artifact. The 1933 Saint-Gaudens Double Eagle will forever remain one of the most extraordinary pieces of American numismatic history.
Guilderland Historical Society
FAQs
What is the 1933 Saint-Gaudens Double Eagle?
It’s a rare gold coin designed by Augustus Saint-Gaudens, originally minted in 1933.
Why is the 1933 Saint-Gaudens Double Eagle so valuable?
Its rarity, historical significance, and legal battles make it one of the most expensive coins in the world.
How much did the 1933 Saint-Gaudens Double Eagle sell for?
It was sold for a record-breaking $18.9 million at auction in 2021.