Trial Begins Over Double Eagle Gold Coins Valued at $80 Million

12 Jul 2011 10:50 AM | Anonymous

Trial Begins Over Double Eagle Gold Coins Valued at $80 Million

     PHILADELPHIA (CN) - As a forfeiture trial over 10 rare gold coins valued at roughly $80 million began, the presiding judge told jurors: "This will be infinitely more interesting and fascinating intellectually than anything you will see on TV." The U.S. Mint calls the 1933 Saint-Gaudens Double Eagles "one of the most sought-after rarities in history."
     A single Double Eagle sold for more than $7.5 million at a Sotheby's auction in the summer of 2002, making it at the time the most valuable coin ever auctioned.
     Augustus St. Gaudens, a sculptor and artist, designed the coin, which many collectors consider the most beautiful U.S. coin ever.
     In 1933, during the depths of the Great Depression, 445,500 such coins were struck at the Philadelphia Mint, a few blocks from the Federal Courthouse where the trial is occurring.

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