If the 1933 double eagles WERE made legal what would they cost?

[Just Bob]

I did not want to hijack Michael's thread, but I am curious:

 

What value would the market place on these coins?

 

 

What would it do to the value of the Farouk specimen?

 

 

What would it do to the value of the "20 or so" that gpnyc has hidden in a sock somewhere?

[MarkFeld]

I'm guessing they'd be worth about $4,000,000 each, but wont be surprised if other opinions vary by a 7 figure number The Farouk(? ) example might be worth a modest premium.

[World Colonial]

It would depend upon how many there are actually are and based upon my post on the other thread, I understand that it is at least 13.

 

The $4 million estimate you give is as good as any, because when it comes to these ultra expensive coins, there seems to be little correlation between the actual known number and the price. The prices are all over the place but here are some general factors that I believe influence them:

 

The first and to me by far the most important is the "story" or history behind the coin. And by history, I do not necessarily mean its historical importance but the the prior history of the coin as a numismatic item.

 

The 1933 double eagle which is the subject of this thread is a perfect example. If it were not for the fact that it has been illegal for these coins to be owned for all these years as a result of the US going off the gold standard, is there any chance that the one legal specimen would have sold for $7.59 million? Its posisble but I believe that it would still sell for a lot less..

 

The same goes for other coins, including the 1804 dollar and 1913 Liberty Head nickel. There are many other coins with fewer surviving specimens (even aside from die varieties) that sell for a miniscule fraction of what one of these will fetch. And the reason for this is that they exist in relative obscurity. Coin s such as these two are famous, even to some extent outside of the collector community.

 

Another reason appears to be the pedigree of the coin. For example, I believe that at least one of those 1861 Pacquet double eagles I referenced in another thread can be traced back to its issuance.

 

The metal content and size of the coin is also important because collectors (on average) prefer gold coins over others and large coins over smaller coins. This is less important for really scarce and expensive coins than generally but I still believe it is a factor.

[World Colonial]

It would depend upon how many there are actually are and based upon my post on the other thread, I understand that it is at least 13.

 

The $4 million estimate you give is as good as any, because when it comes to these ultra expensive coins, there seems to be little correlation between the actual known number and the price. The prices are all over the place but here are some general factors that I believe influence them:

 

The first and to me by far the most important is the "story" or history behind the coin. And by history, I do not necessarily mean its historical importance but the the prior history of the coin as a numismatic item.

 

The 1933 double eagle which is the subject of this thread is a perfect example. If it were not for the fact that it has been illegal for these coins to be owned for all these years as a result of the US going off the gold standard, is there any chance that the one legal specimen would have sold for $7.59 million? Its posisble but I believe that it would still sell for a lot less..

 

The same goes for other coins, including the 1804 dollar and 1913 Liberty Head nickel. There are many other coins with fewer surviving specimens (even aside from die varieties) that sell for a miniscule fraction of what one of these will fetch. And the reason for this is that they exist in relative obscurity. Coin s such as these two are famous, even to some extent outside of the collector community.

 

Another reason appears to be the pedigree of the coin. For example, I believe that at least one of those 1861 Pacquet double eagles I referenced in another thread can be traced back to its issuance.

 

The metal content and size of the coin is also important because collectors (on average) prefer gold coins over others and large coins over smaller coins. This is less important for really scarce and expensive coins than generally but I still believe it is a factor.

[WoodenJefferson]

Looking at the images provided by Michael, I can see right now that all the coins would not be equally graded out, either by a service or auction house description. Looks like some have a few dings and we don’t even see the reverses, so that will weigh in also.

 

The higher quality 33’s would probably sell for a minimum of 5-7 million with the rest below that 5 million ceiling. The King Farouk will depreciate in value but it still has the provenance which will help to keep the value above the others.

[jtryka]

I would think with that many specimens, the value would be comparable to the 1927-D, maybe with a small premium due to the fame of them, so what are 27-D's going for? Maybe $2-4 million? That would be my guess.

[michael]

I did not want to hijack Michael's thread, but I am curious:

 

------YOU DID NOT HI-JACK MY THREAD IN FACT YOUR THREAD IS totally different, GREAT, EVEN BETTER THAN MY THREAD-------

 

What value would the market place on these coins?

 

-------if they are legal to own i would say 2-4 million each 2 million for the lowest graded and 4+ million for the highest graded but this might be optomistic if there are not 11+ or more interested well heeled buyers---------

 

 

What would it do to the value of the Farouk specimen?

 

THEY ARE NOT QUITE 100% SURE IT IS EVEN THE FAROUK SPECIMEM THIS IS WHY IT WAS SETTLED OUT OF COURT HALF AND HALF--------

 

 

What would it do to the value of the "20 or so" that gpnyc has hidden in a sock somewhere?

 

_____________if those got legal to own then under 2 million each unless there are 35+ well heeled buyers that want one then the skies the limit

[James_OldeTowne]

If they all suddenly became legal to own, then chances are excellent that other examples would appear. So, let's suppose the total population rises to about 25 examples. It is also likely that they would all be very high grade, so there shouldn't be much discrepancy in values. I imagine this will push their individual value down to the $500,000 range or lower.

[BillJones]

If the sale of these pieces were to be spread out over a period of years, I think that they could bring as much as $4 million each. If they were to be dumped on the market all at one time, the prices would be depend upon the grade. The lowest grade ones could go for as little as 1 to 2 million. There are only some many people who are willing or able to spend a 7 figure number for a coin at a given point in time.