Eagle Half Dollar
Gold Coin Sells For Half A Million Dollars!
In January, 2010 a rare 1907 Double Eagle $20 gold coin was sold in Orlando, Florida - for over half a million dollars!
What made this coin so unique? Its "Farouk" pedigree – indicating that it was formerly owned by the legendary King Farouk. Just one of an incredible cache of highly valuable, sought after numismatic coins.
The Double Eagle was actually discontinued in 1933, when President Roosevelt prohibited circulation of gold, in an attempt to rebuild the U.S. economy during the Depression. When hoarding of gold was also prohibited many Americans dutifully turned in their gold to the banks. Though the U.S. Mint made another 445,000 $20 Double Eagle coins – which were never circulated.
In 1937, these 1933 Double Eagle coins were destroyed, except two, now at the Smithsonian Institute. Prior to this however, several coins were stolen. The US Mint's Chief Cashier took ten of the coins, nine were later recovered. One remained - which somehow found its way into King Farouk's collection.
Who was King Farouk? And how did he manage to acquire such a treasure?!
Farouk I Fārūq al-Awwal (1920– 1965) - King of Egypt and Sudan.
Like many nobles, he was educated in England. Multilingual, he spoke eight languages fluently.
Throughout his short, but eventful life, this infamous Egyptian was known for his lavish, excessive, Western lifestyle. Upon the death of his father, at just 16 years of age, he was crowned King of Egypt, inheriting thousands of acres of land, palaces by the dozen, hundreds of cars, and a huge treasury.
Farouk loved the glamorous royal lifestyle, the money, travel, and made frequent shopping trips to parts of Europe - which not surprisingly, did not prove popular with many of his subjects.
Reportedly, he once offered a Mexican actress Queen Nefertari's (wife of Ramses) crown - for a single night of passion. It is not known whether she took Farouk up on his offer, but the crown remained in Cairo...
During his reign (1936 to 1952), King Farouk 1st was a prolific collector, and built up one of the largest, most impressive international collections of gold numismatic coins - an estimated 8,500 gold coins! – some of them quite rare. Farouk picked up most of his coins in the 1940s, when a numismatic dollar was far less expensive, costing just one Egyptian pound.
During World War II, Farouk was widely criticized for continuing his lavish lifestyle. He wrote to Hitler, advising that an invasion would be welcome, then delayed declaring war on Germany until most of the fighting in Egypt was already over.
Due to corrupt government, long-standing British occupation, and the loss of most of Palestine to Israel in the 1948 Arab-Israeli War, Farouk's unpopularity grew. A military coup in 1952 forced him to abdicate and go into exile, first in Monaco, then Italy where he remained.
In 1953, when the 150-year monarchy was officially abolished, the revolutionary government auctioned all of Farouk's treasures. Among these was a rare 1933 Double Eagle -which unfortunately went missing.
All of the coins had to be catalogued under military guard in Cairo within a short period of time, making it impossible to record everything. Most of the coins were offered in large lots (often 15-20 coins), arranged by denomination, with both rare and common coins in each lot. Large lots, and poor presentation, meant the coins were sold far below their true worth.
Numerous well-known American dealers/collectors attended the sale. Astute collectors realized this was an amazing opportunity. John J. Pittman reportedly took out a second mortgage to finance the trip, and purchased the entire collection - the wisest move of his entire numismatic career.
As the U.S. government was aware that the 1933 Double Eagle was in the collection, they officially requested that the stolen coin be taken out of the sale and returned to the US. The Egyptian government did withdraw the Double Eagle, but it disappeared and its whereabouts remained a mystery, for more than four decades...
Then in 1996, a British dealer arrived at the Waldorf Astoria Hotel, New York City, to sell to an American collector. Federal agents, disguised as coin collectors, swooped in and seized the 1933 Double Eagle.
It resurfaced in 2010, making the present owner a cool half million dollars!
And what happened to King Farouk? As he aged, a fondness for an overabundance of rich food caused Farouk to become dangerously obese, weighing nearly 300 pounds. In 1965, he collapsed and died after a heavy meal, at the Ile de France Restaurant in Rome. There were some suspicions of poison, but no autopsy or investigation was ever carried out.
And this ended the short but memorable life of King Farouk – coin collector extraordinaire!
To discover an easy, affordable way to add to, or start your own memorable numismatic coin collection, & build your wealth, visit http://shopnumis.com/jotibryant
About the Author
Published author: book & magazine articles. Free lance editor.. http://jotibryant.ws
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Eagle Half Dollar
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 1908 PCGS GRADED MS65 $5 INDIAN FIVE DOLLAR GOLD HALF EAGLE COIN PHILADELPHIA  US $11,499.00
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 1915 PCGS GRADED MS64 PLUS INDIAN $5 FIVE DOLLAR HALF EAGLE GOLD COIN CERTIFIED US $4,499.00
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 1910 S $500 Indian Head Half Eagle Gold Coin Five Dollar Piece US $35,000.00
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 1908 PCGS GRADED MS64 LIBERTY FIVE DOLLAR $5 HALF EAGLE GOLD COIN PHILADELPHIA US $1,570.00
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 1884 CC CARSON CITY $5 FIVE DOLLAR GOLD HALF EAGLE XF AU RARE DATE US $1,495.00
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 1834 Five Dollar $5 Gold Half Eagle Coin PCGS AU 50 Classic Plain 4 US $1,450.00
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 ESTATE 1909 INDIAN HEAD GOLD HALF EAGLE $5 FIVE DOLLAR COIN PENDANT CHAIN 2477 US $1,360.00
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 2006 W American Eagle one half ounce 1 2 twenty five 25 dollar gold proof US $1,250.00
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 ★★1900 P MS 64 $25 two and a half dollar Gold Quater Eagle PCGS★★ AWESOME US $1,199.00
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 1836 FIVE DOLLAR GOLD HALF EAGLE NGC US $1,195.00
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 2012 1 2 Half Ounce American Gold Eagle 25 Dollar Coin GEM Bullion Uncirculated US $1,060.39
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 Liberty Five Dollar Coronet Half Eagle Gold Coin Pendant Bezel US $1,000.00
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 1911 FIVE Dollar GOLD INDIAN Half Eagle CHOICE BU UNCIRCULATED MS US $999.95
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 1912 P $500 Gold Indian Half Eagle Five Dollar PCGS MS62 $5 US $949.95
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 1999 25 DOLLAR GOLD AMERICAN EAGLE US MINT HALF OUNCE 999 GOLD US $860.00
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 1805 OVER 4 HERALDIC EAGLE HOLED SILVER HALF DOLLAR VERY LOW MINTAGE 211722 US $859.99 |
 1902 P Liberty Five Dollar Half Eagle Gold Coin UNC US $808.08
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 ★★1912 P MS 60 $5 five dollar Gold half Eagle NGC★★ Gold is on the rise again US $799.00
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 1835 TWO AND HALF DOLLAR GOLD QUARTER EAGLE NGC XF US $795.00
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 1900 P $5 FIVE DOLLAR Gold LIBERTY HEAD HALF EAGLE US Coin US $835.00
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 1886 S $5 DOLLAR GOLD LIBERTY COIN HALF EAGLE CERTIFIED PCGS MS 62 US $739.99
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 1904 P $5 NGC MS62 Gold Liberty Coronet Head US Coin Five Dollar Half Eagle US $664.95
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 US 5 DOLLAR HALF EAGLE LIBERTY HEAD GOLD COIN 1888 S US $650.00
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 1886 S $5 NGC MS61 Gold Liberty Coronet Head US Coin Five Dollar Half Eagle US $644.95
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 1903 S HALF EAGLE LIBERTY GOLD $5 DOLLAR PCGS MS62 US $625.00
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American Eagle Gold Coins - A Wise Investment
Gold Eagle coins are gold coins produced by the government of United States from 1795 to 1933. Till that time the US government used to back its currency with gold. This was called the gold standard. The eagle was a unit of denomination meant solely for gold coins. Quarter, half and double eagles were also produced. The eagle was the highest among the four units of denomination, the others being the dollar, dime and the cent. The cent was the lowest unit. A dime was equal to 10 cents, a dollar was 10 dimes and an eagle was 10 dollars. In 1984 the United States mint restarted producing gold eagles and distributed them as commemoratives. The Gold Bullion Act was passed in 1985 during the tenure of President Ronald Regan. The act enabled the US mint to mint gold bullion coins of face value 5, 10, 25 and 50 US dollars from newly mined domestic gold.
From 1907 till 1933, the double eagle bore the image of Liberty carrying a torch and holding an olive branch in either hand, on the obverse. The image was designed by Augustus Saint-Gaudens. This design is often considered as one of the most beautiful coin designs in the United States. This same design is used on the on the obverse of the modern gold eagles. The reverse features a nest of American Eagles. This is a symbol of family tradition and unity.
The United States government provides the Gold Eagle coins with a guarantee of their weight, content and purity. As a result investors and collectors can buy them with confidence. The US government is the only government that provides its gold coins with such a guarantee. This move has helped the circulation and sale of the Gold Eagles.
The modern US Gold Eagles are made of 22 carat gold (91.67% pure) which is much more scratch and marring resistant than the pure (99.9% or purer) forms of gold bullions. As a result the resale value of the coin is not diminished. 22 carats gold coins have 11 parts gold and 1 part alloy. Each 1-ounce gold Eagle contains 31.1 grams of pure gold, with an additional alloy of silver and copper. The total weight of the coin is about 33.9 grams. The 22 carat standard is the traditional English crown gold standard found in the British sovereigns. The standard was established for gold coinage over 350 years ago.
The weight of quarter eagles was .2727 troy ounces, that of half eagles is .5455 troy ounces and of eagles is 1.0909 troy ounces. The eagle has a diameter and thickness of 32.7 mm, and 2.87 mm respectively. The half-ounce gold Eagle has a diameter of 27mm and thickness of 2.15mm. The quarter-ounce gold Eagle has a diameter of 22mm, and a thickness of 1.78 mm. The tenth-ounce gold Eagle has a diameter of 16.5 mm and a thickness of 1.26mm. The Eagle, the half Eagle the quarter Eagle and the 10th ounce Eagle have face values of $50, $25, $10 and $5.
About the Author
You can buy gold eagle coins through The Precious Metal Shop.