Gold Coins for Sale

How much would you pay for a gold coin? Some would pay hundreds. Some would pay thousands. Some would pay millions, and some have paid millions in order to get their hands on what is considered to be the ultimate for collectors of this style of coin: the 1933 Double Eagle. This coin sold at auction for $7.59 million dollars, making it one of the most expensive coins to have ever been purchased. But what is so special about this coin, why did it sell for so much, and where can you find one?

Production

In order to end the bank crisis of the 1930’s, President Franklin Roosevelt decided to issue what was called Executive Order 6102. The signing of this order meant that citizens of the United States were not allowed to hard gold bullion, coins, or certificates. The Gold Reserve Act, signed a few months later, outlawed the circulation and possession of this style of coins for circulation, exempting those that were deemed collector ones. Because these were no longer considered legal tender, citizens of the US were told to turn in their coins for another form of currency.

That very year, the 1933 Double Eagles were created at a US mint. These were not to survive, however, because of the order that the president had signed. They were destined to be melted down and turned into something else. Two of these, worth $20 each, were given to the National Museum of American History and were put on display, and that should have been the only two to survive being melted down.

Switching

They, however, were not. Like many gold coins for sale that wind up being infamous, it is believed that a mint Cashier by the name of George McCann snuck out 20 or more. No one knew, however, until nine of them came into the hands of a jeweler in Philadelphia. Once it was discovered that some of them survived the melting process, the Secret Service went into action, trying to find all of these rare and very special gold coins for sale that they could.

One of these was found in Egypt and was owned by King Farouk. He purchased the coin legally but through a complication, the government was unable to get it back from him, and it disappeared.

The last Double Eagle gold coins for sale were sold in 2002, when an anonymous bidder at a Southeby’s auction purchased the rare treasure for over seven million dollars, a great amount indeed. Because they are so popular, there have been some unauthorized replicas which have been minted. Those who are looking to purchase this need to beware of these bogus coins so that they do not lose the money that they would invest in them. They are a bit hard to spot, however, as they do not have the phrase “replica” or “copy” anywhere on the coin itself. Moreover, if you’re a US citizen, they remain illegal to possess, so it’s quite unlikely you can ever find one available for purchase.