The Story Of The Most Expensive Coin In The World

wealthymatters.comIn 1933, the President of the United States of America, Franklin D. Roosevelt stopped the coinage of gold and made it illegal to own the metal (although coin collectors could retain their pieces). With one exception, no 1933 double eagles were ever legally released, although some were stolen from the government, and over the years several were recovered.

In the summer of 2002, a 1933 Double Eagle was auctioned off for $7,590,020 , which shattered the old record of $4,140,000 paid at a public auction for an 1804 silver dollar. This piece is unique as the only 1933 double eagle the U.S. government has deemed legal for its citizens to own (having been negotiated as such through terms of a U.S. treaty with a foreign government). Even illegal instances of the 1933 double eagle would be worth hundreds of thousands of dollars, but it would be illegal for a U.S. coin dealer to broker a deal with one of these coins. There is no other date of St. Gaudens double eagle that is worth a significant fraction of this extraordinary coin. In fact, a complete uncirculated set of all other St. Gaudens double eagles could be put together for just over three million dollars (less than half the price paid for the 1933), including the extremely rare, ultra-high relief, proof pattern. Without the rare pattern, the set would be less than $ 750,000. Read more of this post

Investing In Coins

wealthymatters.comCollecting coins can be an engrossing and rewarding hobby.

I started collecting coins when I was about 2 years old.My dad worked in the airport then.Every few days he would bring me a few foreign coins and my mom used to tell me about these far away countries.My mom was also trying to prepare me to begin school and her way of teaching me about money and counting was to get me to play with the brass coins of those days.These were the earliest coins to make their way into my collection.

When I started collecting coins I didn’t have any focus nor did I care about the value of the coins might have in future.But years later I was pleasantly surprised to find out just how much my coins were worth.A brass 20 paisa with a lotus picture was a pretty common coin then and even now.Nevertheless it sells for no less than 8 rupees today.A compounded annual gain of close to 10% per year for 48 years. Read more of this post

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