Is it illegal to own a 1933 double eagle coin?

The 1933 double eagle gold coin holds a unique place in history. This coin, originally minted as a $20 denomination, was designed to showcase the grandeur of the United States. However, its fate took an unexpected turn shortly after its creation.

The year 1933 marked a tumultuous period in American history, as the country grappled with the onset of the Great Depression. In an effort to stabilize the economy, President Franklin Roosevelt took drastic measures.

One of these measures was the issuance of an executive order that had far-reaching consequences for the gold coin industry. The order effectively outlawed the circulation of gold coins, including the newly minted 1933 double eagle.

This move was part of a broader strategy to remove gold from the monetary system and instill confidence in the nation's paper currency. The double eagle, along with other gold coins, was recalled and melted down, with only a select few surviving the process.

The few 1933 double eagle coins that escaped destruction became highly sought-after collectibles. Their rarity and historical significance have made them valuable investments for coin collectors and enthusiasts.