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Things You Need To Know About The U.s. Gold Double Eagles
Brief History One of the rarest tyope of gold coins are the Double Eagles. The year 1848 was a significant moment for the gold industry. It is when people discovered the gold in California. It created a steady flow of gold. At that time, the minting companies are only producing $10 pieces. The mint choose to go the extra mile and create larger denominations of coins. First double eagle was minted in 1849. The denomination of the coin is twenty dollars. That same year, two pieces of Double Eagle coins were also produced as proof. The first coin is placed in the Smithsonian Institution in Washington DC. The Smithsonian Institution, a research establishment, is funded by the government. It is also affiliated with the museum complex. On the other hand, the second coin, was given to William M. Meredith. He was part of the treasury secretary at that time and was also a lawyer and politician. However, now, the location of the second coin is unknown because it was auctioned as part of his estate. In spring of 1933, 455,500 double eagles are produced. The two Double eagles were set aside from the rest. However, there were no double eagles were released. Controversy In 1933, President Franklin D. Roosevelt put an end to metal ownership. No 1933 Double Eagles were ever released. However, crooks stole the Double Eagles from the government and it took years for the coins to be recovered. The Double Gold Eagle In Egypt In the year 1954, the famous Double gold eagle again appeared in Cairo, Egypt. King Farouk is a great coin collector. Out of more than 8,500 gold coins, the ever popular Double gold eagle was one of them. As soon as the U.S. government found out that Double gold eagle was in the auction, they immediately requested the coin to be withdrawn from the sale. After that, people have no idea where the coins are. Who Is Stephen Fenton? Not until 1996 when Stephen Fenton, a British coin dealer was seized. He is trying to sell it to fake coin collectors. He has no idea that it was a secret service agent that he’s been dealing with. Fenton tried to fight for his legal rights of the coin for several years. Both the US government and Fenton has finally decided to auction the coin and they will split the amount between the two. Million-Dollar Bid In 2002, a 1933 Double eagle coin was sold for $7,590,020. The settlement took less than nine minutes to complete. With that amount, the Double eagle gold coin was noted as the world's most expensive coin. The United States Treasury took half of the payment, which includes the $20 to monetize the coin. The other half was entitled to Stephen Fenton. Stephen Fenton was a coin dealer who took hold of the coin. The double gold eagle has a very controversial history. There are people who try to imitate this type of coin, so if ever you get a chance of meeting sellers of the Double Eagle be sure that you know the specifications of the coin so that you will not be victimize. Article Directory: http://www.articledashboard.com Want to sell gold at the maximum price? Click on the links and get information on how to sell gold, silver and other precious metals. |
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