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PCGS Certifies Ultra-Rare 1933 Saint-Gaudens Double Eagle Gold Coin

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 Posted 04/14/2021  6:02 pm Show Profile   Bookmark this topic Add CCFPress to your friends list Get a Link to this Message
PCGS - Professional Coin Grading Service Grades the Only Legally Obtainable 1933 Saint-Gaudens Double Eagle, to be Sold by Sotheby's in June 2021


1933 Saint-Gaudens Double Eagle, PCGS MS65

Professional Coin Grading Service (www.PCGS.com) was selected by Sotheby's in New York to officially certify and grade the 1933 Saint-Gaudens Double Eagle, a gold coin once owned by King Farouk of Egypt that will soon be offered for sale. PCGS has graded the gold coin MS65 and its current owner, shoe designer Stuart Weitzman, is offering it along with a handful of other exceptional rarities at a Sotheby's auction to be held in New York on June 8, 2021.

"We are excited and proud to be given the opportunity to formally certify the 1933 Saint-Gaudens Double Eagle," says PCGS President Brett Charville. "This coin is a true gem! Breaking the world record in 2002 for being the most valuable coin ever sold, this specimen has a story unlike any other United States rarity."

The first delivery of 1933 Double Eagles to the Philadelphia Mint cashier was made about 10 days after President Franklin Delano Roosevelt was inaugurated. In one of his first acts, Roosevelt declared an effective end to the nation's adherence to the gold standard, banned the payout of gold coins, and began the recall of all U.S. gold coins, which were eventually melted.

According to the Mint's records the entire mintage of 445,500 double eagles struck in 1933 was accounted for, and all were to be melted except for two sent to the Smithsonian. In 1937, a number appeared for sale privately; in 1944 a Secret Service investigation determined that they had been stolen from the Mint and were seized from their owners.

One was purchased by King Farouk. It became part of his fabulous collection and was beyond their reach. Sociopolitical turmoil led to King Farouk's fall; he was exiled, and the new government dispersed his collection of coins through Sotheby's. The 1933 Double Eagle was withdrawn from the auction and its whereabouts were unknown for decades until British coin dealer Stephon Fenton surrendered the coin to United States authorities in 1996.

The coin hung in legal limbo for several years, leaving the rarity to be stored in a Secret Service vault at the World Trade Center in New York City. Just before the terrorist attacks destroyed the World Trade Center in 2001, the legal status of the 1933 Saint-Gaudens Double Eagle specimen hailing from King Farouk was resolved and the coin was subsequently removed from the ill-fated New York City landmark. The coin was offered for sale by Sotheby's/Stack's in 2002, taking a world-record $7.59 million.

Nearly two decades later, the specimen remains the only legally obtainable example of the 1933 Saint-Gaudens Double Eagle, with two specimens held at the Smithsonian Institution and all known others currently in custody of the United States government, which confiscated a handful of other specimens that came to light in recent years. The unique specimen being offered by Sotheby's is expected to take between $10 million and $15 million.

Due to the unique circumstances and rarity of the 1933 Saint-Gaudens Double Eagle, PCGS is taking the unusual step of, at the auctioneer's request, grading and certifying, but not holdering this rarity in PCGS' tamper-evident holder. The winning bidder of the coin may submit it to PCGS for holdering to provide state-of-the-art security at no additional charge.

Previously, PCGS has only reserved non-holder certification to just one other rarity, which is the Walton specimen of the 1913 Liberty nickel graded PCGS PR63. Those interested in examining a high-resolution image of the unique PCGS MS65 1933 Saint-Gaudens Double Eagle can view it via PCGS Cert Verification. More information about the sale of the 1933 Saint-Gaudens Double Eagle and other items up for bid at the Sotheby's Three Treasures - Collected by Stuart Weitzman live auction, can be found at the Sotheby's website.

Check out Double Eagles on ebay.
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 Posted 04/14/2021  6:14 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
Thanks for a great summary. The saga of the government's seizure of those other specimens and the ensuing legal battles with the prior "owners" is a great read in itself.
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 Posted 04/14/2021  6:18 pm  Show Profile   Bookmark this reply Add nickelsearcher to your friends list Get a Link to this Reply
Fabulous rarity - interested in what it will hammer for at the auction.
Take a look at my other hobby ... http://www.finewoodcrafter.com
Too many hobbies .... too much work .... not enough time.
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 Posted 04/14/2021  6:23 pm  Show Profile   Check Pacificoin's eBay Listings Bookmark this reply Add Pacificoin to your friends list Get a Link to this Reply
It could quickly turn into an unfabulous rarity if the US Government
Comes to their senses and allows the 10 they are holding to go to open market .
The whole scenario surrounding 1933 Double Eagles is craziness anyways.
Also, a fabulous Gem is a bit of a misnomer , look at the marks
scuffs on the right leg!
Ah ....my jealousy is now over ! LOL
Closest I will ever come to owning one of these is my
copy of Alison Frankel's book "Double Eagle"
Edited by Pacificoin
04/14/2021 6:27 pm
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 Posted 04/14/2021  8:09 pm  Show Profile   Check GrapeCollects's eBay Listings Bookmark this reply Add GrapeCollects to your friends list Get a Link to this Reply
I was waiting for this thread to pop up. As Pacific noted above, the grade is laughable. Everyone I've spoken with says, and agrees with me in that this is a mid to low range MS64.
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 Posted 04/14/2021  8:13 pm  Show Profile   Check Pacificoin's eBay Listings Bookmark this reply Add Pacificoin to your friends list Get a Link to this Reply
Grapes absolutely concur !
I sent in a Couple of Blazing Lustrous
1927 Saints a few years back that came
Back as 65s ..would put this 1933 to shame !
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 Posted 04/14/2021  9:35 pm  Show Profile   Bookmark this reply Add PNWType to your friends list Get a Link to this Reply
I have to agree, those marks across the leg are rather distracting, despite the history with it, calling this an MS65 is fantasy
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 Posted 04/14/2021  9:39 pm  Show Profile   Bookmark this reply Add NumisEd to your friends list Get a Link to this Reply
Perhaps someone felt pressured to grade in MS65?
Also, why didn't the FBI bust down the door at Sotheby's and impound the coin?
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 Posted 04/14/2021  9:59 pm  Show Profile   Check GrapeCollects's eBay Listings Bookmark this reply Add GrapeCollects to your friends list Get a Link to this Reply
@NumisEd,

Read the first paragraph right above the photo please
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 Posted 04/14/2021  10:34 pm  Show Profile   Bookmark this reply Add jimbucks to your friends list Get a Link to this Reply
So after it was supposedly removed from the WTC, where did it go after reported sold at Sotherbys?
Edited by jimbucks
04/14/2021 10:37 pm
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 Posted 04/15/2021  01:48 am  Show Profile   Bookmark this reply Add kbbpll to your friends list Get a Link to this Reply
@jimbucks, according to Wikipedia in July 2001 after the court settlement, it was transferred to Fort Knox. Then it was auctioned by Sotheby's under the terms of the court settlement. The only thing that makes this coin legal is a "mistakenly" issued export license to King Farouk in 1944. The interesting thing to me is that I'm not sure that there's actual evidence other than Fenton's word, that this is actually Farouk's coin. It disappeared for over 40 years. As for the other ten, in my opinion they will never, ever, be available. Israel Switt should have stuck them in with Farouk's coin and exported them.
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 Posted 04/15/2021  11:52 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
It could quickly turn into an unfabulous rarity if the US Government comes to their senses and allows the 10 they are holding to go to open market .


This issue is certainly one of the more interesting numismatic sagas.
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 Posted 04/15/2021  4:56 pm  Show Profile   Bookmark this reply Add 1796NoPole to your friends list Get a Link to this Reply
Great to finally see this coin. Why does it look like a matte proof?

As for the release of the other 10, all we really need to do is elect a numismatist president to executive-order it into reality. Some power brokers in the rare coin market could also get together and form a lobbying agency.
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 Posted 04/16/2021  08:52 am  Show Profile   Check westcoin's eBay Listings Bookmark this reply Add westcoin to your friends list Get a Link to this Reply
Grape you're way to generous it's an average MS64 at best IMO. Since we've both had a chance to look at this coin, maybe not exactly in hand but through some clear glass or acrylic anyways. In no way is this coin anywhere near MS65. Classic example of grade inflation due to rarity only. I wish they could just grade the coin on it's own merits and disregard it's rarity or history. On the Coin Show podcast Matt Dinger was discussing this in comparison to the Langford Saints. He thought they were all pretty bland low end average uncirculated coins, and said there is a good chance King Farouk had this coin cleaned or at least polished a few times, as he was known to order his staff to do. Matt hadn't seen this coin, and we have, he was going off what he knew of King Farouks prior history with his collections. I don't remember any obvious cleaning marks or polishing done on this coin, do you?

The grade given is a joke and makes PCGS look not so competent in this grading exercise. They have been steadily losing favor in my eyes ever since the forced David Hall out, in a coup of sorts. I'd love to know the real inside story to that whole debacle. Talk about coin gossip!

Here is where I called the MS64 back in March and a bunch of neat links from Grape and myself.

http://www.coincommunity.com/forum/...ge=2#3379696
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Edited by westcoin
04/16/2021 09:04 am
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 Posted 04/28/2021  2:14 pm  Show Profile   Bookmark this reply Add 829729742 to your friends list Get a Link to this Reply
it looks like a matte proof
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 Posted 04/28/2021  2:21 pm  Show Profile   Bookmark this reply Add Numis-Northerner to your friends list Get a Link to this Reply
Was it not certified before?
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