The 1933 Double Eagle isn’t just any gold coin—it’s one of the rarest and most mysterious in U.S. history. Originally valued at $20, this coin was never released to the public. Yet decades later, it would sell at auction for a staggering $18.9 million.
With ties to kings, presidents, stolen treasures, and courtroom drama, the story of this coin reads like a blockbuster movie.
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What is the 1933 Double Eagle?
The 1933 Double Eagle is a $20 gold coin designed by famed sculptor Augustus Saint-Gaudens. Over 445,000 of these coins were struck at the Philadelphia Mint.
But due to President Franklin D. Roosevelt’s executive order during the Great Depression, almost all of them were melted down before they ever left the Mint.
Only two were legally kept by the U.S. Mint for museum purposes. But about 20 somehow slipped out, leading to a mystery that would span nearly a century.
Why Was It Never Used?
In 1933, the U.S. was in the middle of a deep economic crisis. To stabilize the banking system, President Roosevelt ordered citizens to return their gold coins to the government. Gold coins were no longer to be used in everyday commerce.
So even though the Mint had already made the Double Eagles, they were never officially released. The coins were supposed to be destroyed—but a few escaped.
The Stolen Coins
How did they escape? It’s believed a cashier at the Mint helped smuggle them out. These rare coins were then passed on to a local jeweller, Israel Switt, who sold them to collectors. The Secret Service eventually caught on in the 1940s. Many of the coins were recovered and destroyed, but not all of them.
One Coin Goes to a King
One 1933 Double Eagle made its way to King Farouk of Egypt. The U.S. government mistakenly issued an export license, effectively making that coin legally his. When Farouk was overthrown in 1952, the coin disappeared and remained missing for decades.
Reappearance in 1996
After more than 40 years, the coin resurfaced in 1996 when a British dealer tried to sell it in New York. A legal tug-of-war followed. Eventually, a deal was struck: the coin was “monetized” with an official $20 payment, making it legal to own and sell. In 2002, it was auctioned for $7.6 million—at the time, a world record.
Sold Again in 2021
The buyer was later revealed to be fashion designer Stuart Weitzman. In June 2021, he put the coin up for auction at Sotheby’s. It sold for a record-breaking $18.9 million, becoming the most expensive coin ever sold at auction.
Ten More Coins Found
In 2005, the family of Israel Switt revealed that they had ten more 1933 Double Eagles. These were authenticated by the government—but a long legal battle followed.
The Switt family claimed ownership, but courts ruled against them. The coins were declared government property and are now held at Fort Knox.
Legal Status Today
Only one 1933 Double Eagle is legal to own: the one that was auctioned after being monetized by the U.S. government. All others are considered government property, and possession of one could lead to serious legal trouble.
| Fact | Detail |
|---|---|
| Year Minted | 1933 |
| Designed By | Augustus Saint-Gaudens |
| Original Value | $20 |
| Known Legal Private Owners | 1 |
| Auction Record (2021) | $18.9 million |
| Legal to Own | Only one legal coin |
| Coins Officially Held by Gov’t | 10 (Fort Knox) + 2 (museum) |
Why It Matters
The 1933 Double Eagle is more than just a gold coin. It’s a piece of American history that reflects an era of financial panic, government intervention, and global drama.
From its mysterious escape from the Mint to its record-shattering auction sales, this coin continues to fascinate collectors and historians alike.
The next time you hear someone mention rare coins, remember this one. Only 13 are known to exist today. Most are locked away, one is on display, and only one is owned privately.
If you ever come across a 1933 Double Eagle, don’t spend it—it could be worth millions and spark a legal battle of historic proportions.
FAQs
Why is the 1933 Double Eagle so rare?
It was never officially released and most were melted down.
Can I legally own a 1933 Double Eagle?
Only one is legal to own. Others are government property.
How much did the coin sell for in 2021?
It sold for $18.9 million at a Sotheby’s auction.
Who bought the legal 1933 Double Eagle?
Stuart Weitzman, a fashion designer, owned it before auction.
How many 1933 Double Eagles exist today?
Only 13 are known—1 privately owned, others held by the government.
