The most expensive $20 ever.
Jul. 7th, 2014 08:35 am![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
gridloreOne of the joys of reading history is you occasionally stumble over something new that reignites your passion for learning. I mostly read medieval history, of course, but inspired by an article in one of our Uncle John's Bathroom Readers I picked up Double Eagle: The Epic Story of the World's Most Valuable Coin at the library.
Long story short. In 1933 Roosevelt signed a law making it illegal to own gold to prevent the collapse of the US banking system. The Philadelphia Mint had struck 450,000 $20 gold coins, dated 1933. These were never circulated. 500 were sent out for testing, with 24 being destroyed in the process. Two coins were sent to the Smithsonian for their collection. All the 1933 Double Eagles were supposed to be destroyed.
Of course, they weren't. At least ten were somehow stolen. Nine were recovered. The story of that last coin is amazing.
But this book isn't about the coin, it's about people. The dying sculptor and his bitter rival at the Mint. The man who saved the American banking industry. Shady Mint employees and coin dealers facing off with hard-boiled Secret Service agents. King Farouk of Egypt and his court. Laywers, informants, auctioneers, and liars. The last 33 Saint had an amazing cast of characters around it.
The best thing is how this book is written. When we reach the theft of the coins, we get a brief amusing tutorial on how to steal from the US Mint. When discussing King Farouk's obsessive collecting, we learn the history of his life and Egypt in the 20th Century. So we get context for everything.
I read this in a single sitting. Amazing book.
Long story short. In 1933 Roosevelt signed a law making it illegal to own gold to prevent the collapse of the US banking system. The Philadelphia Mint had struck 450,000 $20 gold coins, dated 1933. These were never circulated. 500 were sent out for testing, with 24 being destroyed in the process. Two coins were sent to the Smithsonian for their collection. All the 1933 Double Eagles were supposed to be destroyed.
Of course, they weren't. At least ten were somehow stolen. Nine were recovered. The story of that last coin is amazing.
But this book isn't about the coin, it's about people. The dying sculptor and his bitter rival at the Mint. The man who saved the American banking industry. Shady Mint employees and coin dealers facing off with hard-boiled Secret Service agents. King Farouk of Egypt and his court. Laywers, informants, auctioneers, and liars. The last 33 Saint had an amazing cast of characters around it.
The best thing is how this book is written. When we reach the theft of the coins, we get a brief amusing tutorial on how to steal from the US Mint. When discussing King Farouk's obsessive collecting, we learn the history of his life and Egypt in the 20th Century. So we get context for everything.
I read this in a single sitting. Amazing book.
