The 1933 Double Eagle isn’t just a rare coin—it’s the star of one of the wildest tales in numismatic history.
It’s a $20 gold coin that never officially entered circulation, yet it managed to escape government vaults, travel across continents, land in royal hands, disappear for decades, and smash auction records.
If you like treasure hunts and courtroom drama, you’re going to love this.
Origins
The 1933 Double Eagle was designed by legendary sculptor Augustus Saint-Gaudens. Struck at the Philadelphia Mint, over 445,000 of these $20 gold coins were created. But they were never supposed to leave the Mint.
Why? Because that same year, President Franklin D. Roosevelt pulled gold coins out of circulation to stabilize the collapsing economy.
The Mint was ordered to melt them all down. Almost all were destroyed—except for a handful that vanished under mysterious circumstances.
Ban
In 1933, the government passed a law requiring Americans to turn in their gold coins. It was part of a bold plan to fix the banking crisis during the Great Depression. That meant the 1933 Double Eagles were obsolete before they ever saw the light of day.
Although two were officially set aside for the National Numismatic Collection at the Smithsonian, all the rest were supposed to be melted. But around 20 slipped through the cracks.
Theft
How did that happen? It’s believed that a Mint cashier smuggled some coins out and sold them to a Philadelphia jeweler named Israel Switt. From there, they ended up in the hands of private collectors.
The Secret Service eventually launched an investigation in the 1940s and managed to recover and destroy most of the stolen coins.
Royalty
One Double Eagle took a more exotic path. It was sold to King Farouk of Egypt. Thanks to a paperwork blunder, the U.S. government actually approved an export license for it—making that coin technically legal.
But when Farouk was overthrown in 1952, the coin disappeared. For decades, no one knew where it was.
Reappearance
In 1996, the long-lost Farouk coin resurfaced when a British coin dealer tried to sell it in New York. That triggered a legal showdown between the dealer and the U.S. government.
In a rare compromise, the government agreed to “monetize” the coin—making it legal tender—by accepting a $20 payment.
It was then sold at auction in 2002 for $7.6 million, setting a record at the time.
Record
The buyer of that coin was later revealed to be fashion designer Stuart Weitzman. He held onto it for nearly 20 years before auctioning it off at Sotheby’s in 2021.
The price? A jaw-dropping $18.9 million—officially making it the most expensive coin ever sold.
Finding
Just when everyone thought the story was over, ten more Double Eagles surfaced in 2005. They were found in a safety deposit box belonging to Israel Switt’s descendants.
The family claimed they owned the coins legally. But after years of legal battles, the courts sided with the government.
Those coins were seized and now rest securely in Fort Knox.
Ownership
Here’s the bottom line: aside from the one monetized coin, it’s illegal to own a 1933 Double Eagle. They were never released into circulation and are considered stolen government property. If another one shows up, the Secret Service is still on the case.
| Detail | Information |
|---|---|
| Year Minted | 1933 |
| Designer | Augustus Saint-Gaudens |
| Quantity Originally Made | 445,500 |
| Legal Circulation | None |
| Known Surviving Coins | 13 |
| Legal to Own Privately? | Only one (monetized in 2002) |
| Highest Auction Price | $18.9 million (2021) |
| Notable Owner | Stuart Weitzman |
| Stored At | Smithsonian, Fort Knox, private vault |
The story of the 1933 Double Eagle feels like it was written for Hollywood—complete with hidden treasure, royal intrigue, legal drama, and record-setting riches.
Today, this legendary coin serves as a reminder that value isn’t just about gold content. Sometimes, it’s the story behind the shine that makes a coin priceless.
FAQs
Why was the 1933 Double Eagle never released?
Because of a gold recall during the Great Depression.
How many 1933 Double Eagles exist today?
Only 13 are known to survive.
Can I legally own a 1933 Double Eagle?
Only one is legal to own privately.
Who bought the $18.9M coin?
Fashion designer Stuart Weitzman.
Where are most of the coins now?
Stored at Fort Knox and the Smithsonian.
