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PCGS Encapsulates Legendary Farouk 1933 Saint-Gaudens Double Eagle

 
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 Posted 07/27/2021  6:24 pm Show Profile   Bookmark this topic Add CCFPress to your friends list Get a Link to this Message
PCGS - The world's most valuable coin was sold by Sotheby's in June 2021 for nearly $19 million.



The 1933 Saint-Gaudens Double Eagle is a gold coin with a $20 face value that sold for nearly $19 million in June 2021 and was graded MS65 by Professional Coin Grading Service. The obverse, seen here, depicts a striding Miss Liberty before a sunrise over the U.S. Capitol in Washington, D.C. Courtesy of Professional Coin Grading Service. A flying eagle graces the reverse of the 1933 Saint-Gaudens Double Eagle, a gold coin with the face value of $20 that was originally designed by namesake sculptor Augustus Saint-Gaudens in 1907. Courtesy of Professional Coin Grading Service.



The 1933 Saint-Gaudens Double Eagle, which broke an all-time record in June 2021 as the most expensive coin ever traded in public auction, was recently encapsulated by Professional Coin Grading Service (www.PCGS.com). This comes after PCGS graded the coin MS65 just prior to its sale at a Sotheby's auction on June 8, 2021, for $18,872,250, or almost double the previous record set by a 1794 silver dollar graded by PCGS that sold for $10 million in 2013.

"It's a career highlight," says PCGS President Brett Charville. "We are absolutely thrilled to holder the 1933 Saint-Gaudens Double Eagle. We certified the coin MS65 just before it sold and now the new buyer wants to protect the unique rarity in our industry-leading, tamper-evident holder to ensure the security of the coin and maximize its value."

The coin was submitted by GreatCollections Coin Auctions (www.greatcollections.com), one of the world's leading auction houses for certified rare coins and banknotes. The Orange County, California, firm plans to display the rarity at the upcoming ANA World's Fair of Money® in Chicago, Illinois, on behalf of the anonymous owner.

GreatCollections president Ian Russell spoke of the submission to PCGS. "We have likely submitted 500,000+ coins to PCGS over the past 10 years, but the standalone highlight was this 1933 $20. It is the pinnacle of numismatics, and we are grateful to the owner for entrusting it with us."

Adds Russell, "The coin has an amazing history, dating back to the 1933 executive order that banned virtually all private ownership of gold coins in the United States and effectively took the nation off the gold standard. But this specimen slipped through the cracks and was purchased by King Farouk of Egypt, one of the biggest coin collectors in the 1930s. After Farouk was overthrown in 1952, the coin disappeared for more than 40 years until surfacing in the mid-1990s; it first set the all-time world record price for a coin in 2002, when it realized $7.59 million," explains the expert coin auctioneer.

Russell, whose firm GreatCollections handles over $100 million in rare coins each year, notes that the 1933 Saint-Gaudens is one of those elusive coins that may go decades between appearances at auction. "The current owner of the rarity set a goal back in 2002 to own the coin one day, and 19 years later, his dream came true. Although it's difficult to predict the future, I think it will be many years before this coin appears on the market again."

John Albanese, who cofounded PCGS in 1986 and as a longtime dealer regularly handles encapsulated rare coins, says the eye appeal of the 1933 Saint-Gaudens Double Eagle is magnificent. "The strike and surfaces of this example are above par. It's simply a beautiful coin."
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 Posted 07/27/2021  6:45 pm  Show Profile   Bookmark this reply Add Adam_E to your friends list Get a Link to this Reply
On a somewhat related note, Ian Russel is a pretty cool guy. I've called Great Collections before late at night and literally had Ian Russel himself pick up and answer my question. I'm a very low end buyer, too.
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 Posted 07/27/2021  7:16 pm  Show Profile   Bookmark this reply Add Oldfordman to your friends list Get a Link to this Reply
I did not think that this coin would ever be slabbed. I also thought it would be a 66+ if it did get slabbed.
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 Posted 07/27/2021  7:44 pm  Show Profile   Bookmark this reply Add kbbpll to your friends list Get a Link to this Reply
"and maximize its value" - that cracked me up a little. It's worth more in their holder?

I've wondered for a while what evidence there is that this is actually the Farouk coin.
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 Posted 07/27/2021  8:03 pm  Show Profile   Bookmark this reply Add bobby131313 to your friends list Get a Link to this Reply

Quote:
On a somewhat related note, Ian Russel is a pretty cool guy.


Yes, he is, spoke to him in person at many shows. Great guy. I have blanket permission to use his images here too.
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 Posted 07/27/2021  8:05 pm  Show Profile   Bookmark this reply Add jimbucks to your friends list Get a Link to this Reply

Quote:
John Albanese, who cofounded PCGS in 1986 and as a longtime dealer regularly handles encapsulated rare coins, says the eye appeal of the 1933 Saint-Gaudens Double Eagle is magnificent. "The strike and surfaces of this example are above par. It's simply a beautiful coin."


Then why isn't there a CAC sticker on it?
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 Posted 07/27/2021  8:18 pm  Show Profile   Check GrapeCollects's eBay Listings Bookmark this reply Add GrapeCollects to your friends list Get a Link to this Reply

Quote:
I also thought it would be a 66+ if it did get slabbed.


It's a 64 at best, not close to a 65 and a galaxy away from a 66+
My best finds: 1999-WAM:http://goccf.com/t/332161 1988-RDV-6:http://goccf.com/t/335954#2873459 1986-Off-center: http://goccf.com/t/335952
1999 WAM #2:http://goccf.com/t/338710&whichpage=1
1981 Double Struck In Collar: http://goccf.com/t/350199&whichpage=1
ANA id: 3194067
My Type Set: https://www.NGCcoin.com/registry/co...sets/236574/
If you want to buy something or sell something or just talk, shoot me a PM!
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 Posted 07/27/2021  8:55 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
Does the grade really matter?
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 Posted 07/27/2021  11:39 pm  Show Profile   Bookmark this reply Add Pmint1 to your friends list Get a Link to this Reply
Ok a stunning and amazing coin. I would love to have it of course but when I saw the pic I couldn't help but think the grading service fudged the grade a bit. The marks on the leg and breast seem a bit much for a 65. If I had sent it in and it was a common date it would come back a 63 or 64.
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 Posted 07/28/2021  12:44 am  Show Profile   Check GrapeCollects's eBay Listings Bookmark this reply Add GrapeCollects to your friends list Get a Link to this Reply

Quote:
Does the grade really matter?


Yes. 100% and in a massive way. There's a big difference between offering a coin as Choice UNC and GEM BU.
My best finds: 1999-WAM:http://goccf.com/t/332161 1988-RDV-6:http://goccf.com/t/335954#2873459 1986-Off-center: http://goccf.com/t/335952
1999 WAM #2:http://goccf.com/t/338710&whichpage=1
1981 Double Struck In Collar: http://goccf.com/t/350199&whichpage=1
ANA id: 3194067
My Type Set: https://www.NGCcoin.com/registry/co...sets/236574/
If you want to buy something or sell something or just talk, shoot me a PM!
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 Posted 07/28/2021  10:15 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply
I just want to in the next photo holding the slab. I doubt I will ever have $19 million, but having that much in my hand just one time would be swell.
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 Posted 07/29/2021  11:28 am  Show Profile   Bookmark this reply Add fortcollins to your friends list Get a Link to this Reply

Quote:
Does the grade really matter?


Not here. When the population report is "1" a PO-01 is king.
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 Posted 07/29/2021  11:47 am  Show Profile   Bookmark this reply Add Zurie to your friends list Get a Link to this Reply
Personally, I think having it slabbed and graded like that brings it down a notch from being a legendary coin to just another encapsulated rarity with great provenance.
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 Posted 07/29/2021  12:11 pm  Show Profile   Check Pacificoin's eBay Listings Bookmark this reply Add Pacificoin to your friends list Get a Link to this Reply
Devils Advocate .. Is it really 1 of 1 ?
Maybe until the USG gets in on the act !
Agree with others . No better than a 64 .
Look at the gash on the leg .
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 Posted 07/30/2021  2:03 pm  Show Profile   Check Paul Bulgerin's eBay Listings Bookmark this reply Add Paul Bulgerin to your friends list Get a Link to this Reply
I saw that this coin will be on display at the ANA from August 10-13. Wouldn't you know it, the only day I can make it is the 14th!

Oh well, I'm sure I'll enough other amazing coins at the show.
Paul Bulgerin
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