There are many reasons why a coin will become rare and collectible. It may be that it was a commemorative coin which was intended to be rare and instantly collectible. It can also be because the coin was taken out of circulation or was not authorized for striking by the U.S. Mint. Of all the different stories which exist, one of the most interesting stories in rare coin collecting is the one which surrounds the 1933 Saint-Gaudens Double Eagle. This is the only coin which has been made illegal to own all except for one coin.
About the Original Coin
The 1933 Saint-Gaudens coin was in a series of coins which was designed by the sculptor Augustus Saint-Gaudens. It is dubbed by the U.S. Mint simply as a double Eagle, but it is well known in rare coin collecting as the Saint-Gaudens Double Eagle. It is a coin which was created in 1907 by Theodore Roosevelt as a way to beautify the national currency. This was achieved as the coin is still to this day considered to be one of the most beautiful of all American coins by those who collect coins.
The Recall
In 1933, Franklin D. Roosevelt decided that America needed to abolish the gold standard. He signed an executive order which called a halt to all gold coin production. Further, the order indicated that the coins had to be melted down to be turned into bullion. The executive order made it illegal for anyone to own any of the coins. All other coins before 1933 had been distributed to the public, so it is impossible for the government to make it illegal for the public to possess them. What Roosevelt did not count on is that the coins would be stolen by mint cashier George McCann.
The Heist
A daring move which has lived in history for all those in the rare coin collecting world is the day when McCann made off with 20 to 30 of these 1933 Saint-Gaudens Double Eagle coins. They have since been hunted down by the Secret Service. To date, about 20 have been recovered and are being kept by the United States government at Fort Knox. These are the only coins other than those on display in the National Museum of American History and the U.S. National Numismatic Collection which are known to exist. This is to say all except one highly controversial 1933 Double Eagle.
The King of Egypt
The King of Egypt in 1944, Farouk was an avid collector of more than just coins. As a part of his thirst for rare coin collecting he acquired one of the 1933 Double Eagles. He applied for the right to export it from the U.S. and thus gaining legal permission to own it. He was granted the right to do so right before the treasury discovered that a number of the 1933 coins had been stolen. To date, it is the only coin of the vintage which is legal to be owned.
Photo Credits: roberthuffstutter
Originally posted 2010-08-18 03:04:49. Republished by Blog Post Promoter
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Palladium coins are extremely rare and they are one of the most valuable types of money that you can collect. If you have never heard of palladium before, or if you are curious as to what these coins are, there are a few things you should know. First, palladium is a type of metal that was discovered in 1903. It is very light in color, almost a silver/white shade. The man who discovered it, William Hyde Wollaston, named it after the giant Pallas, who according to Greek mythology, was slain by the goddess Athena.
This form of metal is considered to be a subset of the platinum group, making it very rare. Palladium is often used for coinage and bullion due to the fact that it melts very easily and is much easier to work with than other members of the platinum group. Coins made of this metal will resist tarnishing well and make wonderful display pieces since they are not as affected by open air as other metals.
Many countries have minted palladium coins, and strangely enough, Tonga was one of the first to do so. In 1967 they produced a run of these coins and collectors that are seriously involved in precious metals will always try to find at least one of these coins. However, the most collectible palladium coins in the world are the ones that were produced by the Soviet Union. Other countries that produced palladium coins include Canada, France, and Slovakia.
In addition to Russian varieties, there is another extremely rare palladium coin that is difficult to find. The Royal Canadian Mint produced what they called the Big Bear and Little Bear Constellation coins, with a run of only 1200 coins total. This is considered to be one of the smallest runs in the history of recent coin making. There are a total of four different coins in this run, and each one corresponds to a specific season. Collectors that can get their hands on these are considered to be very lucky.
When you’re shopping for palladium coins, there are a few things to remember. First, the dealer should be reputable. If you are dealing with an unknown, there is always a chance for fraud. Always ask for certification, references and do your due diligence before spending money. If a palladium coin is priced well below the current market value for palladium, this is definitely cause for concern. Remember, if it’s too good to be true, it probably is.
In addition to these steps, if you are dealing with a serious investment in a palladium coin, we highly recommend having a third party appraise the piece. This can help you determine the actual value of the coin and the appraiser will be well trained to spot any potential errors that may indicate that the coin is not legitimate. Don’t sink any money into palladium coins unless you are certain that they are authentic. Otherwise, you may find out too late that your investment is worthless.
Photo Credits: pandaamerica.com
Originally posted 2008-09-15 05:00:53. Republished by Blog Post Promoter
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