A 1933 coin, known as the Double Edge, was sold at an auction organized in New York for 15.5 million euros, making it the most expensive in history after exceeding by almost double what was paid in January 2013 for the 1794 Flowing Hair Dollar coin, considered the most expensive so far.
According to the auction house Sotheby’s, the coin took just four minutes to go from the 5.7 million starting price to the 13.7 million hammer price, which when adding fees and taxes rose to 15.5 millions of euros.
This Double Edge has been sold to a buyer whose identity is unknown. Shoe designer Stuart Weitzman bought it in 2002 for 6.2 million euros and it also set a world record in its day.
The piece is considered the “Mona Lisa of coins”, according to Sotheby’s representatives, because it is the only one of its kind that is still in private hands, since the rest are owned by the US Mint.
History of the coin
This gleaming gold 1933 coin with a face value of 16.5 euros was designed by the well-known sculptor Augustus Saint-Gaudens. It never came into circulation, since, after being minted, it was withdrawn when former President Franklin Roosevelt decided in 1933 that the United States. it would stop backing its currency with gold reserves as a measure to control the economic depression that was hitting the country.
Along with the coin, two other important stamps were auctioned, a trio of collectors’ items that had spent several years in the hands of designer Stuart Weitzman, 79, who bought them individually to fulfill one of his wishes.
“It was a childhood dream to own the best stamp in the world, the best coin in the world and the best American stamp in the world,” explained Richard Austin, director of the Sotheby’s Department of Books and Manuscripts.