Most expensive coin in the world.

[azda 979]

http://www.fleur-de-coin.com/articles/mostexpensivecoin.asp

[Hussulo 6]

http://www.fleur-de-coin.com/articles/mostexpensivecoin.asp

And since then 10 more have come to light.

"from the family of Philadelphia jeweler Israel Switt, the illicit coin dealer identified by the Secret Service as a party to the theft who admitted selling the first nine double eagles recovered a half century earlier. In September 2004, the coins' ostensible owner, Joan S. Langbord, voluntarily surrendered the 10 coins to the United States Secret Service. In July 2005, the coins were authenticated by the United States Mint, working with the Smithsonian Institution, as being genuine 1933 Double Eagles. Currently, the coins are held at Fort Knox under lock and key.

After the announcement that the US Secret Service had recovered the coins and that they had been authenticated, Ms. Langbord publicly claimed that she inherited the coins from her father via legal means, and continues to threaten a federal suit concerning the surrendered coins. To that effect, Langbord has apparently retained the services of the attorney, Barry Berke, who represented Fenton with the only monetized 1933 Double Eagle." from Wikipedia.

the case is still in court.

Also it is no longer the most expensive coin in the World. Recently a 1794 dollar sold for record $7.85M:

http://today.msnbc.msn.com/id/37265346/ns/today-money/

[azda 979]

http://www.fleur-de-coin.com/articles/mostexpensivecoin.asp

And since then 10 more have come to light.

"from the family of Philadelphia jeweler Israel Switt, the illicit coin dealer identified by the Secret Service as a party to the theft who admitted selling the first nine double eagles recovered a half century earlier. In September 2004, the coins' ostensible owner, Joan S. Langbord, voluntarily surrendered the 10 coins to the United States Secret Service. In July 2005, the coins were authenticated by the United States Mint, working with the Smithsonian Institution, as being genuine 1933 Double Eagles. Currently, the coins are held at Fort Knox under lock and key.

After the announcement that the US Secret Service had recovered the coins and that they had been authenticated, Ms. Langbord publicly claimed that she inherited the coins from her father via legal means, and continues to threaten a federal suit concerning the surrendered coins. To that effect, Langbord has apparently retained the services of the attorney, Barry Berke, who represented Fenton with the only monetized 1933 Double Eagle." from Wikipedia.

the case is still in court.

Also it is no longer the most expensive coin in the World. Recently a 1794 dollar sold for record $7.85M:

http://today.msnbc.msn.com/id/37265346/ns/today-money/

A very interesting story though for the $20 i thought

[Hussulo 6]

A very interesting story though for the $20 i thought

It is. With this new ongoing court case I wonder what will happen if the US government win over the Longboards?

What will they do with the 10 new c1933 $20's:

1) Destroy them.

2) Legalise them and sell them to collectors.

3) Donate them to museums.

[Rob 3,152]

Why is 1933 a special year for rarities?

[azda 979]

Why is 1933 a special year for rarities?

The great depression possibly

[scottishmoney 29]

Why is 1933 a special year for rarities?

The great depression possibly

Just after assuming the presidency Franklin Roosevelt closed the banks to prevent a run on the banks, he also called in all gold coin and the coins were melted. The US Treasury had millions of dollars in gold coin minted from 1929-1933 that had not been released into circulation because of the lack of demand with the depression. With the exception of 1932 $10 coins which did get released into circulation that year, none of the other dates particularly the 1929-33 $20s were released in any quantity.

The 1933 dated coins were not authorised for circulation nor legally released. But back then there were corrupt mint officials that would switch current dated coins with previous dates for friends, in this case Israel Switt. Nobody knows for certain how many he got, but there are those 10 examples that were seized by the Secret Service, and the other "Farouk Specimen" that King Farouk of Egypt somehow managed to purchase illicitly ca. 1946 and have shipped to Egypt. After that it appeared in the sales conducted by the Republic of Egypt after his overthrow, but was withdrawn from sale after arm twisting by the American government. After that the coin disappeared for over 40 years until it reappeared and itself became the subject of a criminal examination and settlement and then sale. That is, if it is the same coin. Nobody has been able to verify that it is indeed the Farouk coin.

There are whole novels written on the subject, and it is indeed a fascinating study of the legal aspects of American coinage.

[azda 979]

How the last 1933 Double Eagle survives to this day is part of the fascination with this rare coin. In 1944, agents for Egypt's King Farouk -- an eccentric collector of stamps, aspirin bottles, old razor blades and coins -- applied for an export license for a 1933 Gold Double Eagle. As the result of a Treasury Department oversight, Egypt was granted the license and a 1933 Double Eagle was housed in the private collection of King Farouk, one of the greatest coin collectors of all time. It wasn't until a few weeks after the license was signed that suddenly everyone realized the mistake. The coin was illegal to own, and in fact clearly had been stolen from the U.S. Mint, but the contemporaneous political climate stymied attempts to retrieve it. In 1944, the US was in the middle of a world war, and Egypt stood at the crossroads in the middle of the Mediterranean. It was not the right moment in diplomatic history to go and try to make a claim on a coin, but the coin detectives waited until 1952, when Farouk was overthrown to get it back.

In 1954, King Farouk's 1933 Double Eagle turned up in Cairo at a state-held auction of the deposed king's coin collection. The U.S. government recognized that the 1933 Double Eagle was in that collection, and they officially asked the Egyptian government to pull it from the sale and return it as stolen property of the United States. Although the coin was withdrawn, it was not returned and authorities lost track of it for more than 45 years. The coin disappeared...

Found, lost and found again

In 1996, British coin dealer Stephen Fentonbrought brought the coin to the Waldorf Astoria Hotel in New York City, to sell to an American collector. Federal agents, posing as coin collectors, seized the 1933 Double Eagle in a successful sting operation and while it cannot be proven with absolute certainly, it is believed that this coin is the same 1933 Double Eagle from King Farouk's prized collection. Fenton was put in jail, but he soon got out and went to court in order to battled the U.S. government over ownership of the coin. Meanwhile the coin itself was stored in what authorities thought was a secure location: a vault at the World Trade Center.

[Peckris 579]

Why is 1933 a special year for rarities?

It's just coincidence.

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(pun intended)

[Coppers 58]

Why is 1933 a special year for rarities?

It's just coincidence.

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(pun intended)

It may be coincidence, but in checking my copy of Jaeger, there are only two examples known of the 1933-J (Hamburg mint) 1 Reichsmark coin. Anyone know of any other countries with a similar rarity from that year?

[Gary D 76]

Why is 1933 a special year for rarities?

It's just coincidence.

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(pun intended)

It may be coincidence, but in checking my copy of Jaeger, there are only two examples known of the 1933-J (Hamburg mint) 1 Reichsmark coin. Anyone know of any other countries with a similar rarity from that year?

British one penny anyone

Edited May 30, 2010 by Gary D

[azda 979]

Why is 1933 a special year for rarities?

It may be coincidence, but in checking my copy of Jaeger, there are only two examples known of the 1933-J (Hamburg mint) 1 Reichsmark coin. Anyone know of any other countries with a similar rarity from that year?

That maybe a coincidence due to the Nazis coming to power and changing the coinage, the 5 reichsmark (Martin Luther) J353 from 1933 all have a very low mintage, Berlin Mintmark A minzed the most with only 108,380 coins. Also GaryD has a very good point with the 1933 Penny. I wonder what they knew in 1933 that we're missing

Edited May 30, 2010 by azda

[declanwmagee 122]

I've always suspected that the 1933 Penny might be a masonic thing. It's well documented that Edward VII was a high ranking Freemason, so it's not too much of a stretch to imagine that George V was too. 1933 ties in with 33rd degree, and 7 is an important number, not to mention burying them under foundation stones of churches.

Just a thought...

[Peckris 579]

Why is 1933 a special year for rarities?

OK. ONCE MORE WITH FEELING.

It's just COIN-cidence.

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(pun intended)

(Takes a fool to explain his own jokes, but hey...)

[Red Riley 2]

Now, what did I do with that trombone...?

[Peckris 579]

Now, what did I do with that trombone...?

It's precisely where you left it. (Ow)

[1949threepence 3,367]

I've always suspected that the 1933 Penny might be a masonic thing. It's well documented that Edward VII was a high ranking Freemason, so it's not too much of a stretch to imagine that George V was too. 1933 ties in with 33rd degree, and 7 is an important number, not to mention burying them under foundation stones of churches.

Just a thought...

Interesting theory.

Just as a matter of interest, I wonder how much a real 1933 penny, if released from a private collection, would fetch at auction ? £70,000 ?

[declanwmagee 122]

I've always suspected that the 1933 Penny might be a masonic thing. It's well documented that Edward VII was a high ranking Freemason, so it's not too much of a stretch to imagine that George V was too. 1933 ties in with 33rd degree, and 7 is an important number, not to mention burying them under foundation stones of churches.

Just a thought...

Interesting theory.

Just as a matter of interest, I wonder how much a real 1933 penny, if released from a private collection, would fetch at auction ? £70,000 ?

Speaking of which, check out the compass and the square on the St Pauls £2 next time you see one. That one is undeniable.

[Red Riley 2]

Just as a matter of interest, I wonder how much a real 1933 penny, if released from a private collection, would fetch at auction ? £70,000 ?

Interesting question. Given the current state of the market I would guesstimate well into six figures. If I could persuade the bank to help, I might even have a pop at £70k!

[Red Riley 2]

Speaking of which, check out the compass and the square on the St Pauls £2 next time you see one. That one is undeniable.

Going off at a complete tangent, I inherited a lot of masonic paraphernalia from an uncle some years back including a book of complete gobbledygook. I took the latter to work to show to a known mason. It was gobbledygook to him as well, apparently he wasn't high enough up the hierarchy to understand a word of it.

Shhh, they're all around us...