Money Blog1933 Gold Double Eagle Coins Are A Gold Coin Collector’s Dream

Dec

2nd

1933 Gold Double Eagle Coins Are A Gold Coin Collector’s Dream

Files under money | Posted by Christina Goldman

by Christina Goldman

One of the most sought after gold coins in the history of coin collecting and investing is the 1933 Gold Double Eagle coin.

This beautiful gold coin was last issued in 1933. Minted from the California Gold Rush to the early 1930s, the Double Eagles ceased production in the United States under the direction of President Franklin D. Roosevelt and the Gold Reserve Act of 1934, which made it illegal for private individuals to possess gold coins for use in general circulation.

The exception to the rule was for those who collected coins. The Gold Reserve Act served to severely limit the use of gold coins as legal tender in the United States in order to help boost the economy, recovering from years of depression.

The $20 gold coin, affectionately nicknamed the “Double Eagle” was minted in Philadelphia and bears the majestic eagle on one side, and Lady liberty on the other. Eagle coins were first minted in 1795 in $10 denominations. $20 gold pieces were struck in 1850.

In 1933, nearly 500,000 Double Eagle gold pieces were minted, but the majority of these gold eagles were never used. Unfortunately, massive numbers of them were destroyed. Two excellent specimens may be seen at the Smithsonian Institute. Gold double eagle coins are extremely rare, and much coveted by collectors and investors not only in the United States but also around the world.

Today, the value of a $20 gold Double Eagle piece may exceed $30,000. Containing .9675 pure gold, the 1933 gold Double Eagle coins are an American favorite. Weighing in at just over an ounce, the $20 Gold Double Eagle is not only an exceptional coin, but one surrounded by history and grandeur.

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