Welcome!
» Log In
» Create A New Profile
Home
>
Thomas Dankowski Metal Detecting Forum
>
Topic
This 1933 double eagle gold coin actioned today, fetched a pretty penny too
Posted by tnsharpshooter
This forum is currently read only. You can not log in or make any changes. This is a temporary situation.
|
This 1933 double eagle gold coin actioned today, fetched a pretty penny too June 08, 2021 09:17PM |
Registered: 12 years ago Posts: 6,830 |
This coin here.
[coinweek.com]
I heard on radio it brought close 18 or 19 million bucks.
Can't find Internet link to show though.
Think it was someone in Great Britian who bought.
Think this is it.
[www.reuters.com]
Edited 1 time(s). Last edit at 06/08/2021 09:34PM by tnsharpshooter.
[coinweek.com]
I heard on radio it brought close 18 or 19 million bucks.
Can't find Internet link to show though.
Think it was someone in Great Britian who bought.
Think this is it.
[www.reuters.com]
Edited 1 time(s). Last edit at 06/08/2021 09:34PM by tnsharpshooter.
|
Re: This 1933 double eagle gold coin actioned today, fetched a pretty penny too June 20, 2021 01:28PM |
Registered: 15 years ago Posts: 1,852 |
Interesting history on this coin. For sitting 19 years that’s an average annualized 4.9% rate of return.
"Not counting the two specimens in the U.S. National Numismatic Collection at the Smithsonian, others may exist. However, they either have yet to be uncovered or their current holders choose not to disclose that they have them, for fear of having to give them up without compensation, as happened to Switt?s descendants. The Farouk specimen was given special consideration by the United States government because the king?s ministers had legally applied to purchase the coin through an export license that was approved by the U.S. government. The U.S. government pursued King Farouk?s 1933 Saint for years, but the coin eventually disappeared after the king was deposed in a 1952 coup.
More than 40 years later, the coin turned up after U.S. Secret Service agents arrested British coin dealer Stephen Fenton at the Waldorf-Astoria Hotel in New York. He testified that the coin hailed from King Farouk?s coin collection, and his charges were later dropped. The United States government decided to settle the matter by granting that specific specimen legal-tender status through an issue-and-monetize order. During the time that the coin was being litigated, it was kept in the Treasury vaults of the World Trade Center in New York City. After the legal settlement, the coin was transferred to Fort Knox in July 2001 ? just two months before the World Trade Center was destroyed in the 9/11 terrorist attacks.
The 1933 Saint-Gaudens double eagle finally hit the auction block on July 30, 2002, selling for a total of $7,590,020 With 50% of the bid going to Fenton, 50% disbursed to the United States Treasury, and an additional $20 to complete the issue-and-monetize order giving the coin its legal tender status. The sale of the 1933 Saint-Gaudens broke the record for the most-expensive coin ever sold, nearly doubling the previous record held by a PCGS PR68 Class I 1804 Draped Bust dollar that realized $4,140,000 in a 1999 auction."
[www.greysheet.com]
"Not counting the two specimens in the U.S. National Numismatic Collection at the Smithsonian, others may exist. However, they either have yet to be uncovered or their current holders choose not to disclose that they have them, for fear of having to give them up without compensation, as happened to Switt?s descendants. The Farouk specimen was given special consideration by the United States government because the king?s ministers had legally applied to purchase the coin through an export license that was approved by the U.S. government. The U.S. government pursued King Farouk?s 1933 Saint for years, but the coin eventually disappeared after the king was deposed in a 1952 coup.
More than 40 years later, the coin turned up after U.S. Secret Service agents arrested British coin dealer Stephen Fenton at the Waldorf-Astoria Hotel in New York. He testified that the coin hailed from King Farouk?s coin collection, and his charges were later dropped. The United States government decided to settle the matter by granting that specific specimen legal-tender status through an issue-and-monetize order. During the time that the coin was being litigated, it was kept in the Treasury vaults of the World Trade Center in New York City. After the legal settlement, the coin was transferred to Fort Knox in July 2001 ? just two months before the World Trade Center was destroyed in the 9/11 terrorist attacks.
The 1933 Saint-Gaudens double eagle finally hit the auction block on July 30, 2002, selling for a total of $7,590,020 With 50% of the bid going to Fenton, 50% disbursed to the United States Treasury, and an additional $20 to complete the issue-and-monetize order giving the coin its legal tender status. The sale of the 1933 Saint-Gaudens broke the record for the most-expensive coin ever sold, nearly doubling the previous record held by a PCGS PR68 Class I 1804 Draped Bust dollar that realized $4,140,000 in a 1999 auction."
[www.greysheet.com]