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).
Established in 1991 ILS World is headquartered in the Isle of Man which as a self-governing British Crown Dependency issuing its own currency. The Manx pound, equivalent in value to its UK counterpart, cannot be spent outside of the Island, however, the Island recognises pound sterling coins. It has an excellent reputation for producing topical commemorative designs and for its coin innovation - the £1 coin was introduced on the Isle of Man in 1978, five years before the United Kingdom's equivalent and there is a £5 coin in circulation.
The ILS World team is made up of highly trained and experienced professionals assisting clients with:
• Multi-jurisdictional company incorporation
• Establishing and administering a trust
• VAT and Customs compliance
• Comprehensive administration of the ownership structure
• Management and financial reporting
• VAT and accounting services
• Provision of directors, registered offices, and registered agreement/company secretary
• Acting as a trustee
• Import and export services
• Maintenance and upkeep
ILS World is a global provider of independent fiduciary services and our private client team has considerable experience in assisting international clients with various solutions around wealth management, asset protection, succession and estate planning and trusts and foundations in multiple jurisdictions.
We act in the long-term interest of our clients and pay careful attention to the quality and personal service we deliver.
The team works hard to create long-term relationships and provide the highest level of service. We do this by being approachable, flexible and pragmatic. We offer regular face-to-face meetings as required and provide direct contact with a senior member of the team. Staff have diverse backgrounds, skills and interests and their professional experience together with their "can-do" attitude means they understand that wealth and business are inextricably linked.
Our private clients often require an international strategy and as a global business with offices in several key jurisdictions we are well-placed to provide a cohesive service. Our network includes offices in:
• British Virgin Islands
• Hong Kong
• Isle of Man
For further information please email email@example.com
To keep up to date please follow us on LinkedIn.
Pictured: 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
Please note: ILS World does not offer tax advice and would therefore recommend you obtain your own tax advice. If you require an introduction to a tax adviser, we would be happy to assist.