US Double Eagle gold coin sold for record $18.9m

Double Eagle gold coin

A 1933 US gold coin has been sold at a Sotheby’s auction in New York City for a record $18.9m (£13.4m).

With a face value of $20, the Double Eagle was the last gold coin produced for intended circulation in America. But it was never issued as President Franklin D Roosevelt withdrew the US from the gold standard, in an effort to lift the country from depression.

Most of the coins were then destroyed and declared illegal to own – with the exception of the one sold on Tuesday. It had belonged for a time to King Farouk of Egypt, and was later seized in a secret service sting operation in New York City. On Tuesday, it was sold by shoe designer Stuart Weitzman to a bidder whose identity has not been revealed.

The Double Eagle has an image of Liberty on one side and an American eagle on the other. “The sale marks the second time this 1933 Double Eagle coin set a world record as the most valuable coin, having sold at Sotheby’s New York in 2002 for $7.59m in an auction,” Sotheby’s said in a statement.

British Guiana One-Cent Magenta Stamp

Separately, Sotheby’s said that on Tuesday “the sole-surviving example of the legendary British Guiana One-Cent Magenta achieved $8.3m, retaining its place as the most famous and valuable stamp in the world”.

The 24-Cent Inverted Jenny Plate Block

And another item, the 24-Cent Inverted Jenny Plate Block, fetched $4.9m. The auction house described it as “the most well-known and sought-after American stamp rarity”.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s