The world of numismatics has long been fascinated with the rare and the extraordinary. For Rick Harrison, the creator and host of the reality TV show “Pawn Stars,” a visit to the Legacy Club was an opportunity to discover the most precious coins in the world. His visit was met with a rare find – a 1933 Double Eagle $20 Gold Coin worth over $30 million. However, when he made a bid of close to $25 million, he fell short by $5 million.
The Coin’s History and Rarity
The 1933 Double Eagle $20 Gold Coin is part of the last gold coins struck for circulation by the U.S. Mint. Due to a presidential order from Franklin Delano Roosevelt, banks were prohibited from paying out gold coins or certificates. This led to the destruction of all 1933 Double Eagles, but only 10 managed to escape into private hands. These coins were sold in the 1930s and early 1940s for as little as $1,000 to $2,200, and by 2021, their value had soared to the sky.
- According to the Smithsonian Magazine, a 1933 Saint-Gaudens Double Eagle coin sold for $18.9 million at auction in 2021, becoming the single most expensive coin sold in a public sale.
- The coin’s rarity and historical significance have made it a highly sought-after collectible.
The Coin’s Journey
The coin’s story begins with its first owner, King Farouk of Egypt, who purchased it in the 1940s. The coin was then sold to another owner in the United States, who attempted to export it without the necessary license. This led to a sting operation by the FBI, which resulted in the coin being seized and put up for sale.
| Event | Year | Outcome |
|---|---|---|
| Purchase by King Farouk of Egypt | 1940s | The coin was purchased and owned by the King. |
| Export attempt without license | Unknown | The FBI seized the coin and put it up for sale. |
| Auction in June 2021 | 2021 | The coin was sold for almost $19 million. |
The Auction and Harrison’s Bid
As Harrison walked into the building, he briefed the viewers on what was going to happen. “I’m about to see the most expensive coin in the world. I’m about to see the world’s most expensive coin,” he said. After meeting with Ian, the host finally got to take a look at the rare coin. Ian pulled out the PCGS-graded 1933 Double Eagle $20 Gold Coin, which blew Harrison’s mind.
“I’ve never seen anything like it,” Harrison said. “It’s literally considered one of the most beautiful coins ever made.”
When asked about the story of the coin, Ian shared that it was first purchased by King Farouk of Egypt in the 1940s. “He was the biggest coin collector in the world and purchased the coin in the United States, applied for an export license, and mainly because of that export license is the reason why there’s this one coin that’s legal to own,” Ian explained. As the auction began, Ian revealed that the coin disappeared from the King’s possession for 40-odd years before surfacing back in America in the 1990s. “As soon as it arrived in America, there was a sting operation by the FBI, and two coin dealers were arrested for being involved in it, trying to sell the coin. And then for many years, there was legal action. And the end result was that the coin was legal to be sold and to be legally owned. It was then auctioned in June 2021 and sold for almost $19 million,” Ian said. Ian told Harrison that he represented the owner, and the coin was officially back on sale. When the pawn shop boss asked Ian how much the owner wanted for the coin, he told him that they were looking for over $30 million. While the number was too high, Harrison told the guest that he had a client who was interested in buying the coin. However, to verify the coin’s worth, Harrison called in his expert, Jeff Garrett, and all he could say was, “Wow. It’s stunning!”
“He confirmed that it was an original, and on top of that, it was perhaps the most famous coin in the world,” Harrison said. He then explained that many billionaires and multimillionaires were interested in the coin, and it could go for a lot of money at an auction. Thus, on behalf of his client, Harrison made a bid of $25 million for the coin. “That includes my small commission. And that’s what he’s offering,” he said. However, Ian wasn’t ready to let the precious coin go for anything less than $30 million, and Harrison had to walk away empty-handed.
The Significance of the Coin
The 1933 Double Eagle $20 Gold Coin is not only a rare and valuable collectible but also a significant historical artifact. Its story is one of intrigue, deception, and perseverance. The coin’s rarity and historical significance have made it a highly sought-after collectible, with many billionaires and multimillionaires interested in owning it. Definition: Numismatics refers to the study and collection of coins and other forms of currency. Definition: PCGS-graded refers to the Professional Coin Grading Service, which is a leading authority on coin grading and authentication. In conclusion, the 1933 Double Eagle $20 Gold Coin is a truly unique and extraordinary coin that has captured the imagination of many. Its story is one that is both fascinating and complex, and its significance extends beyond its monetary value. For those interested in the world of numismatics, the 1933 Double Eagle $20 Gold Coin is a true treasure.
