Old Gold Coins

Any conversation about finding value in old gold coins starts and ends with the world’s most expensive coin, the 1933 Saint Gaudens Gold Double Eagle. This coin has an amazing history and a price that is even more spectacular. It serves as the inspiration for any investor who is interested in old gold coins.

The Double Gold Eagle was issued into circulation from 1907 until 1932. This beautiful coin was designed by Augustus Saint Gaudens and quickly became a desired coin for collecting. In spite of its popularity, the coin was ceased from circulation in 1933.

The Great Depression was ravaging the country and President Franklin Roosevelt took the United States off the gold standard in an attempt to stabilize the banking system. In addition, the President ordered the confiscation of gold from citizens, with the exception of old gold coins. The gold was to be melted down and returned to the national treasury.

It was these events that created the world’s most valuable old gold coins. Although 445,000 Double Eagles had already been minted for 1933, the coins were ordered to be melted down. Unknown to the authorities, a few of the coins were smuggled out by an employee. Most of those were recovered by the US government, with one remaining coin bought by a collector from Egyptian King Farouk. This coin would eventually be discovered and ordered sold as part of a legal agreement between the collector and the US Mint.

Sold at auction, the Farouk-Fenton 1993 $20 Gold Saint Gaudens coin sold for an amazing $7,200,000, the highest price ever for an old gold coin. This coin has a fascinating history and sets the standard for purchasing old gold coins. 

Kevin Johnson

Senior Staff Writer – GoldCoin.net