| One of the most important years for gold coins in | | | | cashier at the U.S. Mint known as George McCann. |
| the United States was 1933. It was the year of | | | | Nine of the coins ended up making it to collectors |
| the last production of the St. Gaudens gold double | | | | through a jeweler in Philadelphia by the name of |
| eagle coin, and the year that the domestic gold | | | | Israel Switt. These coins made their way around |
| standard was discontinued. There were exactly | | | | the collectible gold coins markets for nearly a |
| 445,500 1933 St. Gaudens gold double eagle coins | | | | decade before the Secret Service even got wind |
| minted, but none were ever legally circulated into | | | | of their being around. A reporter that was |
| the currency markets, and almost all of them | | | | harmlessly checking into the history of the coins |
| were melted down shortly after production. Thus, | | | | stumbled upon this information, and contacted the |
| this coin is very rare, and it is no wonder that one | | | | Mint for research. At this point, an official |
| was purchased for $7.59 million in July 2002 at | | | | investigation began in 1944, and seven of the |
| auction, which is the highest price ever paid for a | | | | coins were turned over or seized within the first |
| single U.S. or any other coin at auction. | | | | year. One coin remained in public possession until |
| The 1930s experienced a bank crisis unmatched | | | | 1952, when it was also confiscated. |
| until more recent years. Trying to overcome this | | | | This was a big deal, as it was purchased by a king |
| proved quite difficult, and it is what prompted the | | | | in Egypt who refused to return the coin under |
| executive order that nullified gold as legal tender | | | | various circumstances. The coin was then sold at |
| and actually outlawed the possession and | | | | auction with his estate, to a Stephen Fenton who |
| circulation of gold that were not collectible coins. | | | | eventually got caught for owning the coin. The |
| People were forced to turn in all non-collectible | | | | case went to court, and it was decided that the |
| gold for an exchange of other forms of currency. | | | | coin would be monetized and returned to the U.S. |
| The 1933 St. Gaudens double eagle gold coin was | | | | government, who would then sell it at auction. Half |
| minted after this executive order took place, and | | | | of the $7.59 million went to the Treasury, while |
| since they weren’t legal tender they were | | | | the other half went to Fenton, who had the coin |
| melted down and some were destroyed via | | | | at the time it was confiscated. In August of 2005, |
| testing. Two of these coins were presented to | | | | another 10 coins were found in the estate of |
| the U.S. National Numismatic Collection by the U.S. | | | | Israel Switt again and confiscated. |
| Mint, and they should be the only ones left. | | | | These only know 1933 St Gaudens $20 gold coins |
| However, 20 coins have been recovered so far, | | | | now reside at Fort Knox while legal challenges to |
| which were presumed to have been stolen by a | | | | their ownership are being decided by the courts. |