An American gold coin nicknamed the “Double Eagle” and dated 1933 was auctioned on 8 June at Sotheby’s Auction House in New York for $18.87 million, , thus becoming the most expensive ever. In the same sale, what is considered “the most valuable stamp on the planet” did not exceed the lowest estimate made by experts.
Described as “the Mona Lisa of coins”, the “Double Eagle” took a few seconds to rise from its initial price of $7 million to the $10 million mark. After a heated dispute, the amount eventually settled at $16.75 million offered by a buyer who was on the phone. With additional taxes and fees, the total price the anonymous buyer will pay for the 1933 Double Eagle comes to $18.872.250 million – the estimated price was between $10 and $15 million.
Thus, the coin almost doubles the amount paid for the 1794 Flowing Hair, for which just over $10 million was disbursed in January 2013. When the owner put it back on the market last October, it did not reach the minimum required price and remained unsold.
Made of glittering gold, the “Double Eagle” shows a woman personifying freedom on one side and an eagle, designed by American sculptor Augustus Saint-Gaudens. This specimen is the only one in private hands: all the others belong to the US Mint.
This model was never put into circulation. Soon after it was minted, it was withdrawn by President Franklin Roosevelt, who decided in 1933 that the United States would no longer back its coins with gold reserves, a measure to counter the economic depression that struck the country. Thereafter, the US never minted gold coins again, with the exception of limited collector’s series.
A few copies of the Double Eagle still appeared on the market, but were eventually seized by the secret services. With the exception of one, which was part of the numismatic collection of King Farouk of Egypt.
The gold coin now being sold was bought in 1995 by a British collector. After a five-year legal battle, the owner obtained permission to resell it to American designer Stuart Weitzman, who has now taken it to auction. At the time (2002), it traded for $7.9 million.
