A federal judge awarded the U.S. government ownership of 10 rare gold coins valued at roughly $80 million that have been missing for decades.
The 1933 Saint-Gaudens double eagle, named after its designer Augustus St. Gaudens, is "one of the most sought-after rarities in history," according to the U.S. Mint.
Though the double eagle was originally valued at $20, one such coin that belonged to King Farouk of Egypt sold for more than $7.5 million at a Sotheby's auction in the summer of 2002, making it the most valuable coins ever auctioned at the time.
The Philadelphia Mint struck 445,500 double eagles at the height of the Great Depression, but it pulled them back weeks later as President Theodore Roosevelt ordered U.S. banks to abandon the gold standard.
Protect your coins using quality supplies from www.boscastlesupplies.com
Source: http://reason.com/24-7/2012/09/04/us-seizes-gold-coins-found-in-safe-depos
The 1933 Saint-Gaudens double eagle, named after its designer Augustus St. Gaudens, is "one of the most sought-after rarities in history," according to the U.S. Mint.
Though the double eagle was originally valued at $20, one such coin that belonged to King Farouk of Egypt sold for more than $7.5 million at a Sotheby's auction in the summer of 2002, making it the most valuable coins ever auctioned at the time.
The Philadelphia Mint struck 445,500 double eagles at the height of the Great Depression, but it pulled them back weeks later as President Theodore Roosevelt ordered U.S. banks to abandon the gold standard.
Protect your coins using quality supplies from www.boscastlesupplies.com
Source: http://reason.com/24-7/2012/09/04/us-seizes-gold-coins-found-in-safe-depos
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