If you are a coin collector, you must have come across or you must have read about the U.S. gold double eagles? This is a special American gold coin. It is the U.S. gold coin with a domination of $20. This coin is valuable because it contains ninety percent gold and ten percent alloy. It was minted and first struck in 1849.

Brief History
The Double Eagles are one of the rarest types of gold coins. The year 1848 was a significant moment for the gold industry. It is when people discovered the gold in California. It created a steady flow of gold. Minting companies were producing only $10 pieces at that time. They have decided to go further by producing larger coin denominations. First double eagle was minted in 1849. The denomination of the coin is twenty dollars. Then the two pieces of Double Eagle coins were produced that same year as proof. The first coin is placed in the Smithsonian Institution in Washington DC. The Smithsonian Institution is funded by the government to be a research establishment. It is also associated with the museum complex. On the other hand, the second coin, was given to William M. Meredith. He was part of the treasury secretary at that time and was also a lawyer and politician. However, now, the location of the second coin is unknown because it was auctioned as part of his estate.

In spring of 1933, 455,500 double eagles are produced. The two Double eagles were set aside from the rest. But no Double eagles went out in the circulation.

Controversy
President Franklin D. Roosevelt ordered to stop the ownership of this precious metal in 1933. There were no 1933 Double Eagles were released. However, crooks stole the Double Eagles from the government and it took years for the coins to be recovered.

The Double Gold Eagle In Egypt
The famous Double Gold Eagle coin was found at Cairo, Egypt in 1954. King Farouk is known for his great love for collecting coins. Out of more than 8,500 gold coins, the ever popular Double gold eagle was one of them. As soon as the U.S. government found out that Double gold eagle was in the auction, they immediately requested the coin to be withdrawn from the sale. After that, people have no idea where the coins are.

Who Is Stephen Fenton?
Not until 1996, when it was seized from a British coin dealer, Stephen Fenton. He is about to try to sell it to a fraud coin collector. He has no idea that it was a secret service agent that he’s been dealing with. For several years, Fenton tried to fight for his legal rights. The US government and Fenton finally decided to auction the coin and the proceeds will be split between the two.

Million-Dollar Bid
A 1933 Double eagle coin was sold for $7,590,020 in 2002. The deal was over for about less than nine minutes. With that amount, the Double eagle gold coin was noted as the world’s most expensive coin. The United States Treasury took half of the payment, which includes the $20 to monetize the coin. The other half was entitled to Stephen Fenton. Stephen Fenton was a coin dealer who took hold of the coin.

The double gold eagle has a very controversial history. There are people who try to imitate this type of coin, so if ever you get a chance of meeting sellers of the Double Eagle be sure that you know the specifications of the coin so that you will not be victimize.

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