If the Farouk 1933 Double Eagle went up for auction today, what would it sell for?
robertpr
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If the Farouk 1933 Double Eagle went up for auction today, what would it sell for, in light of the continuing Langbord drama. Would it sell for considerably more, given the additional "story" and "drama" around the date, or considerably less, given the uncertainty of having potentially ten more examples enter the market in the future?
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If the Farouk 1933 Double Eagle went up for auction today, what would it sell for, in light of the continuing Langbord drama. Would it sell for considerably more, given the additional "story" and "drama" around the date, or considerably less, given the uncertainty of having potentially ten more examples enter the market in the future?
My guess is about $2.5 to $3 million.
An authorized PCGS dealer, and a contributor to the Red Book.
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I am not breaking any news or getting any insider information here: it is pretty much an open secret there are more sitting in safes across the planet.
If the Farouk 1933 Double Eagle went up for auction today, what would it sell for, in light of the continuing Langbord drama. Would it sell for considerably more, given the additional "story" and "drama" around the date, or considerably less, given the uncertainty of having potentially ten more examples enter the market in the future?
Considerable more due to it's history and regardless of the fact that 10 additional specimens could make it to the market.
The coin has a targeted audience of the very wealthy of collectors and as sure as hundreds of 1955/55 Lincolns sell for many thousands of dollars despite the fact that: 1. It's a Variety 2. It is readily available.
Popularity trumps population. Always has and always will.
The name is LEE!
TDN and I have been saying for years we would take the deal at $20M. I am absolutely certain where one is, and pretty sure about another. A third would be no surprise at all
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will appear. Of course the price will be affected, however, I believe they will still go between
two and three million... mainly for the status symbol. Cheers, RickO
I agree with the sentiment that this coin is overrated. I can think of a lot of other coins that I would buy if I had a $2.5 million coin budget sitting in my bank account.
…as in WHAT FOR or WHY ? That's just crazy.
So far, it's the only legal one that a collector could possibly own, to my knowledge.
Proof that this is still the Hobby of Kings.
For us peasants: not so much. I would say MORE… but as I process the question to a dollar value the answer would be half right:
I'd guess "more or less", depending on which kingdom was the ruling party.
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The dregs are the cleaned one ($1.5M) and anything below 64 at $2.0M, $2.4M for 64's, $3.0M for 65's, and $3.75M for 66's.
TDN and I have been saying for years we would take the deal at $20M. I am absolutely certain where one is, and pretty sure about another. A third would be no surprise at all
Colonel, you know those additional 2-3 pieces "can't" be out there. Because there has been no photographic proof for the naysayers over the past 70-80 years.
Speaking of "photographic proof," how long did it take before the Langbord coins showed up in photos? It would appear "photo's" are quite overrated. What about the Lord St Oswald coins (including gem 1794 $) that weren't photographed until the 1960's? The King of Siam proof set?
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On the other hand, there are several excellent Kirlian photographs of my "aura".
Metaphysically, I am happy not to be a 1933 $20.
The Garrett-Pogue '95 $10 has soul. That's why it shows up more often in photographs.
Mulder and Scully weren't sharp enough to pick up anything that might have implied something non-probative in court. But it's out there. And you know it
Just make sure that your null hypothesis doesn't bite you in the tuchus . .
Without papers the ex Farouk piece is a $10M coin.
Whoever is careless with the truth in small matters cannot be trusted with important matters.
and sell them to collectors for $2000 each.
Then return the ten coins to the Langbords raw.
The owner of the Farouk coin has his, the Langbords have their ten, the
rest of us can have one too.
Everybody a winner!
My solution is for the Mint to make thousands of identical 1933 Double Eagles
and sell them to collectors for $2000 each.
Then return the ten coins to the Langbords raw.
The owner of the Farouk coin has his, the Langbords have their ten, the
rest of us can have one too.
Everybody a winner!
Or just bring out the thousands of specimens that are still hiding in the US Treasury vaults. That'll be the final dagger to all those "hoarders" who kept specimens.
Considerably less. There is too much uncertainty about the additional number of these that will eventually hit the market.
agreed, see what happens after the rest of the stuff clears out/up
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1. The market would become diluted if the Langbord coins are ever unchained.
2. The story will help drive the prices of them all up.
I wonder if the government would actually follow through and melt the Langbord coins? That seems vindictive and given the need for money, really a dumb move.
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Considerably less. There is too much uncertainty about the additional number of these that will eventually hit the market.
+1
Has it ever been clarified if the Fenton/Farouk(the one example currently legal to own) example was actually bought by an individual and not the US Government for essentially half price since they got half of the proceeds from the sale? I can't recall.
As of TODAY, as far as I'm aware, the new OWNER of the coin that sold at auction for $7.5MM has NEVER been identified. I wonder why? I guess so keyman64 can make the above statement and very possibly be RIGHT. Steve
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Has it ever been clarified if the Fenton/Farouk(the one example currently legal to own) example was actually bought by an individual and not the US Government for essentially half price since they got half of the proceeds from the sale? I can't recall.
That was my theory, and I have never seen it confirmed or refuted.
TD
It depends on the fate of the Longboard coins. If seized and melted, it might hold its value well and stay in the $5-$8 million range. If the Langboard coins are legalized, then it becomes nothing more than a glorified 1927-D.
"IF" the government keeps these coins, they will NOT be melted IMO since they did have them graded by NGC.
Of the 10, one was graded Details due to cleaning. So that would only leave 9 that "could" be collectible.
The name is LEE!
Has it ever been clarified if the Fenton/Farouk(the one example currently legal to own) example was actually bought by an individual and not the US Government for essentially half price since they got half of the proceeds from the sale? I can't recall.
That was my theory, and I have never seen it confirmed or refuted.
TD
This theory makes sense. For one thing, if another 1933 came to light and the owner claimed that it was the Fenton coin, the government having the Fenton coin would eliminate that argument.
An authorized PCGS dealer, and a contributor to the Red Book.
It depends on the fate of the Longboard coins. If seized and melted, it might hold its value well and stay in the $5-$8 million range. If the Langboard coins are legalized, then it becomes nothing more than a glorified 1927-D.
"IF" the government keeps these coins, they will NOT be melted IMO since they did have them graded by NGC.
Of the 10, one was graded Details due to cleaning. So that would only leave 9 that "could" be collectible.
I would contend that given the rarity of the coin, that even the cleaned coin is "collectible". Wouldn't a cleaned 1927-D double eagle be collectible also?
An authorized PCGS dealer, and a contributor to the Red Book.
Has it ever been clarified if the Fenton/Farouk(the one example currently legal to own) example was actually bought by an individual and not the US Government for essentially half price since they got half of the proceeds from the sale? I can't recall.
That was my theory, and I have never seen it confirmed or refuted.
TD
That would be genius since the US govt just key strokes the $7.5 MILL into existence (at tax payer's expense) and buys the coin. It doesn't matter what they pay as they essentially get the coin for "free."
It depends on the fate of the Longboard coins. If seized and melted, it might hold its value well and stay in the $5-$8 million range. If the Langboard coins are legalized, then it becomes nothing more than a glorified 1927-D.
Didn't the buyer just recently get into legal trouble?
I have no idea what you are talking about. Please explain.
The pocket piece does not appear to be cleaned to me. After gov wins the pocket piece should reside with the two Smithsonian pieces as mute testimony that crime does not pay.
The ten 1933 double eagle pieces that Roy Langbord found at the bottom of the Switt SDB will never be melted.I will bet my entire coin collection (worth about fitty bucks last time I ran the numbers) on it.
Whoever is careless with the truth in small matters cannot be trusted with important matters.
That's a funny statement mr1874, but if crime no longer pays in the U.S., the big 5 banks will shut down, Wall Street will shut down and there will be no economy left.
And as for your other quote that you put in all of your posts:
"Why do we care?...The government protects its money from thieves and swindlers. We have to care on principle. If we don't, we are done. We are absolutely done."
-Jacqueline C. Romero,*****istant U.S. Attorney
The same people, the U.S. Attorneys/Attorney General have refused to prosecute known criminals in these same banks and on Wall Street. In fact they have helped to support these same thieves and swindlers to the tune of a couple Trillion (with a T) Dollars just because they are too big to prosecute and they have friends in high places. That trumps anything that the Langbords might have profited. So if Jacqueline is correct then I guess we are absolutely done.
It depends on the fate of the Longboard coins. If seized and melted, it might hold its value well and stay in the $5-$8 million range. If the Langboard coins are legalized, then it becomes nothing more than a glorified 1927-D.
If the Langboards loose has the govt said that the coins will b melted?? That woukd b just absurd. I'd think that they woukd b auctioned off.
This is better.Crime did not pay for George McCann head cashier of the Mint nor did it pay for Israel Switt is what the 1933 double eagle pocket piece would represent in a Smithsonian display.
And as for your other quote that you put in all of your posts:
"Why do we care?...The government protects its money from thieves and swindlers. We have to care on principle. If we don't, we are done. We are absolutely done."
-Jacqueline C. Romero,*****istant U.S. Attorney
It's called a sig line. I change it from time-to-time. Are the asterisks really necessary? I've got a good sig line for you. Here it is:"Wall Street's business model is fraud and greed." Bernie Sanders,US Senator
Whoever is careless with the truth in small matters cannot be trusted with important matters.
Yes, I totally agree with you and Bernie on that one.
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