LOT Heritage Rare Coin Galleries  /  2007 Jan (FUN) Heritage Signature Coin #422  / 

3694

1933 $10 MS64 PCGS. The 1933 eagle and double eagle is

Currency:USD Category:Coins & Paper Money / US Coins Start Price:350,000.00 USD Estimated At:1.00 - 2.00 USD
1933 $10 MS64 PCGS. The 1933 eagle and double eagle is
<B>1933 $10 MS64 PCGS.</B></I> The 1933 eagle and double eagle issues are inextricably linked, owing to the great Gold Recall of 1933 and the subsequent Bank Holiday, beginning on March 6. The order of President Franklin D. Roosevelt barred private U.S. citizens for many years from owning gold coins (and related paper certificates) <I>except for items of numismatic significance.</B></I> Both the 1933 eagle and the 1933 double eagle are fabled rarities. On the surface, the coins bear many similarities, but, fortunately for bidders on the current lot, there are key differences.<BR> The United States continued minting gold coins intermittently for several months after Roosevelt took the country off the gold standard. Two executive orders banned the release of additional gold coins for circulation, but by longstanding practice, collectors could obtain copies of the current year's coinage from the Mint cashier, a practice that apparently continued through at least the first several months of 1933. On April 5, 1933, a Presidential order decreed that owners of gold coins (and gold certificates) were to return them to the Federal Reserve System by May 1, except for amounts of less than $100 per person. <BR> The 1933 double eagle issue has no record of release through official channels before the President's declaration, and as of this writing only a single specimen is clearly legal to own, having been "remonetized" by the U.S. government. That coin, the former possession of King Farouk of Egypt, set a price of $7.59 million in a Sotheby's/Stack's auction in July 2002, a record that still stands today as the highest price ever paid for a single coin, U.S. or otherwise. The legal status of several other 1933 double eagles remains unclear (at least to many persons), and those pieces are the subject of ongoing litigation. However, the legal status of the 1933 ten dollar issue has never been in question.<BR> This upper-end MS64 coin shows the same frosted mint luster as the other two examples in this sale, but this piece differs slightly with a brighter sheen and a silkier texture. As always, the striking details are strong throughout. The abrasions that account for the less-than-Gem grade are almost all located on the reverse. This is a fortunate occurrence, especially if the coin is displayed obverse-up, in which case the coin appears to be a full blown Gem. Each side shows even reddish patina with just the slightest hint of lilac around the eagle on the reverse. An outstanding example of this 20th century rarity.<BR><BR><b>Shipping:</b> Coin/Currency (<a target="_blank" href="http://www.heritageauctions.com/common/shipping.php">view shipping information</a>)
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