Egyptian couple finds U.S. gold coin worth millions in closet

[EgCollector]

Anyone knows anything about this??

http://en.rian.ru/world/20080204/98331846.html

http://www.coinnews.net/2008/02/05/egyptian-couple-find-possible-rare-coin-worth-millions-and-shrouded-in-us-history-3904/

[EgCollector]

to make it easier since the links are not working

http://en.rian.ru/world/20080204/98331846.html

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Egyptian couple finds U.S. gold coin worth millions in closet
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CAIRO, February 4 (RIA Novosti) - A rare U.S. double eagle gold coin that could be worth up to $15 million has been found by an Egyptian couple as they cleaned out their flat, the Qatar Ar-Raya newspaper said on Monday.

The precious piece of gold was discovered in an old box that had once belonged to Mohamed Ismail's grandfather while he and his wife, Fatima, were throwing old clothes and broken furniture out of a closet.

Mohamed subsequently sent the coin to experts, hoping that he would get a few dollars for it. However, the tailor was shocked when the experts told him that his grandfather had left him a unique coin of historical value.

Double eagle coins were first minted in 1850 and were used to settle accounts between banks and other financial institutions.

Specialists believe that the double eagle found in Egypt could be part of Theodore Roosevelt's 1933 collection of coins redesigned by famed American sculptor Augustus Saint-Gaudens and given to King Farouk of Egypt as a present.

[EgCollector]

http://www.coinnews.net/2008/02/05/egyptian-couple-find-possible-rare-coin-worth-millions-and-shrouded-in-us-history-3904/

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Egyptian Couple Find Possible Rare Coin Worth Millions and Shrouded in U.S. History

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Qatar Ar-Raya newspaper reported that an Egyptian couple discovered a rare coin that could be a legendary Saint-Gaudens 1933 $20 Double Eagle.

These particular coins have an extremely unique and fascinating history. According to the 2008 Official Red Book®—A Guide Book of United States Coins, only 13 specimens are known to have survived.

In fact, the U.S. Treasury indicates only one 1933 $20 Double Eagle has ever been monetized and issued by the United States Mint.


This very coin was initially seized by the Secret Service in 1996. Why? Owning a 1933 double eagle has been considered "illegal", as there are no official records of any leaving the Mint.

A later brokered agreement resulted in a declaration that the coin was legal, and it was sold in 2002. According to a yearly audit report of the United States Mint, the coin was sold:

 

" … for $6.6 million to an anonymous bidder. With the addition of a 15 percent auctioneer’s premium, and the $20 face value free, the total purchase price totaled $7,590,020 …

… The net proceeds from the sale will be divided between the United States Mint Public Enterprise Fund and the coin dealer from whom the coin was recovered by the U.S. Secret Service in 1996."

 

No one knows for sure how many 1933 $20 Double Eagle coins may have made their way into some collector’s hands over the years. While it would seem unusual to find such a valuable coin within an old box and in a closet like the couple did, you just never know with the mystery surrounding these coins.

[TwoShadows]

Well we all know at least 10 more exist as the family providing them safe haven for years and years finally came forward a couple of years ago. The Secret Service promptly confiscated them and a legal battle is now brewing seeing how the first one, which sold as mentioned in the above posts, was legalized for such ownership and sale. It is ironic the !933 Double Eagle that sold was SUPPOSED to have been from the King Farouk collection? Now we DO indeed have another mystery on our hands if the one recenty found was the King Farouk coin?

[EgCollector]

Now we DO indeed have another mystery on our hands if the one recenty found was the King Farouk coin?

That is a possibility, IF this story is true.
The weird thing is that although i live in Egypt, i never heard of that story. 

[TwoShadows]

The 1933 Double Eagle was given to King Farouk as a gift. U.S. officials knew of his love of the hobby so the presented him with a gift of coins and, as it turns out, it was SUPPOSED to be the only one to legally leave the Mint and the country. The tale tends to get a bit hazy after that but when the coin did find its way back into the U.S. all the experts swore it was the King Farouk coin without a doubt. NOW another one has surfaced in Egypt? This could be a very interesting story before its all over with!

[TwoShadows]

Are you trying to say that way back in the 1930's our government was ALREADY to big to police their own policies! Strange? I do remember a few years back when an IRS office on the eastern side of the country managed to lose track of 2 million dollars in ONE WEEK! Didn't have a clue where it went! Deep inside I knew that SOMEONE knew of its where-a-bouts but whats a couple of million among friends! Just recently I watched a report on an Agriculture office brought into being after the depression which was still open 5 days a week, on a full government payroll and benefits, that hadn't had a visitor for 7 years. The camera crew and reporter were a real surprise! Nothing like a government commited to eliminating waste!!!

[longnine009]

I vaguely remember something from the  80's when the treasury  managed to loose the M2 money supply for a couple of hours.

[Paint Your Wagon]

I vaguely remember something from the  80's when the treasury  managed to loose the M2 money supply for a couple of hours.

Ah but when I finished my MBA in 1981 every bank did that . They called it a dirty float . They made all transferred money disappear overnight to get the intrest and made it reappear in the morning . I even was told that electronic transfers from coast to coast disappeared for several hours of dirty float.

One thing is sure . If I find a 1933 double eagle the US can take a hike . Finders Keepers it is in my book . And I would sell it to a Japanese on the black market
or should I say a Chinese right now ?