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Rare, unique and historical coin SELLS for whopping Rs 138 Crore, here's why

DNA logo DNA 10-06-2021 dnawebdesk@gmail.com (DNA Web Desk)
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A rare and historical gold US gold coin which was originally meant to be a USD 20 coin (Rs 1400) was sold for a whopping USD 18.9 million (Rs 138 crore) in New York on Tuesday. 

With this staggering amount, the unique coin has set a new record and has succeeded in excedding both its previous price of USD 7.6m set in 2002, and its pre-sale estimate of USD 10 million to USD 15 million. The coin also broke the record for the most expensive coin in the world, which was set in 2013 bby a 1794 Flowing Hair silver dollar which was sold for USD 10 million.

It is to be noted that The 1933 Double Eagle was the last gold coin in the US. The coin was minted with an intention for circulation across the US but the US government decided against public use of the coin after Franklin D. Roosevelt removed America from the gold standard. ALl the coins ordered by the government were destroyed but two were given to the Smithsonian Institution.

The coin is rare because it is the only example to have been “legally sanctioned” for private ownership by the US Government.

Auction house Sotheby’s described the rare and historic 1933 Double Eagle as “one of the most coveted coins in the world”.

In an Instagram post, the auction house wrote, ”Meet the “Holy Grail of Coins”. Earlier this morning in our #NewYork saleroom the fabled and elusive 1933 Double Eagle Coin shattered the auction record for the world’s most valuable coin, achieving an astonishing $18.9 million – nearly double the previous record. Four bidders chased the legendary coin, which is the only example that is legally sanctioned by the United States government for private ownership."

The Double Eagle has an image of Lady Liberty on one side and an American eagle on the other. 

“Today’s sale marked a historic moment in the history of stamp and coin collecting, and one that I think will not be surpassed for a long time, if ever,” said Richard Austin, Sotheby’s global head of books and manuscripts, in a post-sale statement.

 

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