$20M for this $20 coin alone is a headline that’s too crazy to be believed, but it’s a real story that’s sending the world of numismatics into a frenzy.
The coin in question? The 1933 Saint-Gaudens Double Eagle, a gold $20 face value coin that currently boasts a market value in the millions. It was originally intended to be a routine component of American currency, yet this particular coin never actually circulated.
While more than 445,000 such coins were struck in 1933, they were not legally put into circulation because of the Gold Reserve Act signed by President Franklin D. Roosevelt.
Why the 1933 Double Eagle is worth millions
The Double Eagle coin was outlawed to own, and almost all of them were melted. Some evaded capture, and the surviving specimens are now among the most valuable coins in existence. Rarity, legal intricacy, and dense historical background are the main factors that explain its astronomical value.
One 1933 Double Eagle sold at auction at Sotheby’s in 2021 for a record-breaking $18.9 million, the largest sum ever paid for a coin at auction. This is nearly $20M for this $20 coin.
$20M for this one $20 coin, and the thrill of discovery
Here’s a fascinating twist of fate: some of these coins ended up in private hands before the melting directive was made effective.
Periodically throughout the years, they reappeared, and there followed lawsuits. In 2002, the U.S. government and a private collector finally resolved the property rights of one such coin so it could be legally sold.
If you wonder whether you might be sitting on a fortune, remember that most Double Eagles are counterfeits or illegal to own unless they’ve been authenticated by the U.S. Treasury.
But if you do happen to stumble upon one of the few remaining legal specimens, you may be staring at a payday that few investments could match.
Why is this $20 coin so valuable today?
Numerous reasons fuel the value climb. Apart from scarcity, the artistic brilliance of America’s greatest sculptor, Augustus Saint-Gaudens, is also to blame.
The Lady Liberty coin shows Lady Liberty striding ahead with a torch and an olive branch in her hand, symbolizing peace and progress. Its history also has some international intrigue, with several of the coins found overseas and tied to famous figures and controversial dealers.
What collectors and investors can learn
The biggest lesson for collectors is that value is created by history, legality, and scarcity.
If there is a story to be told behind a coin, especially one like the Double Eagle, its value can soar into the stratosphere. It is a classic illustration of how the intersection of history and law can turn a relic discovered in pocket change into a multi-million-dollar asset.
While not every coin will yield a return as dramatic as this one, the market has shown steady appreciation in the worth of authenticated rare coins over the past few decades.
