The Double Eagle isn't rare, it's unique and in 2021 it became the world's most valuable coin selling at auction for $18.9 million.
In 1934 the US Mint ordered the melting of all 1933 Double Eagles—but this gold coin with a denomination of $20, along with a few now owned by the government, escaped the furnace. President Theodore Roosevelt commissioned sculptor Augustus Saint-Gaudens to design a coin in the early 1900s. First minted in 1907 the Double Eagle features an image of Lady Liberty striding forward with an eagle in flight on its reverse.
In 1933 President Franklin Roosevelt moved the country off the gold standard to help bolster the economy and the following year the order was made to melt the coins. Two were given to the Smithsonian Institution and despite the Mint's best efforts a handful ended up in private hands. Lawsuits and police investigations followed with the government eventually recovering the coins — aside from one. The American shoe designer Stuart Weitzman, who also owned the historic One-Cent Magenta stamp, bought the Double Eagle for $9.48 million in 2014 and sold it through Sotheby's in 2021 for the record-breaking $18.9m.
Numismatics is the study or collection of currency, including coins, tokens, paper money and medals and the ILS World's private client team is experienced at working with clients who include collectibles as part of their investment portfolios. The teams provide advice on trust and specialist company formation as tools to safeguard the pieces for owners and future successors.
Coins have been collected almost since they first appeared in 600BC. During the Renaissance the Medici and Este families had famous collections and their appeal has endured as they reflect the artistic, economic and political history of the world. US coins are some of the most actively collected with Morgan silver dollars made between 1878 and 1904, again in 1921 and once again in 2021 very popular while others are sought after for their unusual design or metals. The Royal Mint is known for its royalty and military inspired coins but collections span from its commemoration of The Who, with coins ranging from £95 to more than £69,000, to its Tigger set which starts at £10.
The ILS World private client team enjoys supporting passionate collectors and due to the complexity of managing such specialist assets we partner with external accredited experts to ensure our clients get the most considered advice. We appreciate the importance of storage and the need to avoid chemicals in plastic which might cause coins to sweat and develop a greasy residue - velvet or flocked trays, acid-free paper envelopes and Lindner trays are popular storage solutions with coin collectors.
We are used to working with authentication experts and if required we can work collaboratively with any of the professional grading services - Professional Coin Grading Service (PCGS), Numismatic Guaranty Corporation (NGC), Independent Coin Graders (ICG) and the American Numismatic Association Certification Service (ANACS).
Why Choose ILS World
As a leading provider of independent fiduciary services to professional advisors, corporate groups, private and digital clients, we are here to help achieve your financial goals.
At ILS World, we don’t restrict ourselves, we like to go beyond the borders. That is why we operate globally. You will find our offices in Isle of Man, British Virgin Islands, Hong Kong, and Portugal.
*Main picture: Gold and enamel coin issued by the State of Solomon Islands in 2021 to mark the 35th anniversary of the discovery of the wreck of the Titanic. Credit: https://zlataky.cz