The 1933 Saint Gaudens Double Eagle Story – Podcast
Creators Podcast Episode #12 11.30.2024 The events that unfolded to create the 1933 Saint Gaudens double eagle gold coin trace back to one of the most important years in United States history.…
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President Theodore Roosevelt was euphoric.
It was December, 1906, and the President just caught a glimpse of the design for the new double eagle gold coins.
The mock-up coin design featured extremely high relief, just as Roosevelt requested.
President Roosevelt instructed the director of the Mint, “These dies are to be reproduced just as quickly as possible and just as they are.”
Even though coin designer Augustus Saint-Gaudens was hesitant to use such a high relief for the new double eagle, fearing the Mint press equipment wasn’t adequate, it was Roosevelt who encouraged him to push the limits.
Roosevelt told Saint-Gaudens in a letter, “I suppose I shall be impeached for it in Congress, but I shall regard it as a very cheap payment!”
20 sample double eagle coins were struck in 1907 and given away as gifts by either Roosevelt himself or chief engraver of the Mint, Charles Barber.
Today, there are only 15 known examples, valued at $3 to $5 million each.
Why are these little coins so valuable?
It’s a beautiful design, to be sure, but it was the teamwork of my favorite coin-designing dynamic duo, Theodore Roosevelt and Augustus Saint-Gaudens, that give these coins their legendary status.
One of my favorite traits of the World’s Greatest Collectibles is they only come up for sale once or twice in a generation.
The 1822 Capped Half Eagle gold coin absolutely qualifies. As auction house Stack’s Bowers described it, “One of America’s most noteworthy historic collectibles in any form.”
The amazing coin sold for $8.4 million at auction in 2021, but that only begins to tell the story.
It changed hands just three times in 120 years, and was owned by the greatest coin collectors to ever live.
Virgil Brand
Louis Eliasberg
Brent Pogue
It’s the only 1822 Capped Half Eagle privately owned. The two others rest at the Smithsonian.
Official U.S. Mint records showed 17,796 half eagle’s struck in 1822, but almost all of them were dated 1820 or 1821. The three existing coins from 1822 may have been erroneously struck in 1823 or 1824, nobody knows for sure.
Not until 1906 did collectors realize the extreme rarity of this coin, that’s how long it took to solve the mystery. And there’s no telling when, or if, the coin will ever sell again.
If you’ve wondered why someone might pay millions for a tiny little old coin, the 1822 Capped Half Eagle perfectly illustrates.
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