1933$20

Melt?

What is really interesting to me is that this finally debunks the myth that the mint was the anonymous buyer of the ‘33 in order to keep it out of private hands.

Any early estimates?

Queen Elizabeth is a world-class stamp collector, and the one-cent magenta is said to have eluded her grandfather George V. Gotta believe she'll have an agent there.

The idea of selling the three unique items (1933 $20, inverted Jenny plate block, and 1856 magenta) all at once will create lots of buzz. Sotheby's estimates $37m for the three lots.

Auction date is June 8.

@bolivarshagnasty said:
Isn't the '33 the Farouk specimen? The article didn't mention him.

Yes it is

@bolivarshagnasty said:
Isn't the '33 the Farouk specimen? The article didn't mention him.

It would have to be unless the consignor has been living under a bridge for the last couple decades. The Treasury Department has still been playing hard ball (think Langboards).

Is there a coincidence the sell of the 1933 is on the heels of the conclusion of the Simpson sale. He will have a wad of cash this summer.

I think the $10-$15 million auction estimate is a little optimistic. The Langboard coins demonstrated very clearly that not all were melted and that others could feasibly remain.

Hmmmm. Interesting. If I was a whale big enough to play... I probably wouldn’t. The whole thing with the Langbords puts a stain on the issue in my mind.

I’d rather stick to stuff the government doesn’t care about. When they’re in the business of picking winners & losers it rubs me the wrong way.

At the same time, I do wish the consignor and future owner the best. It is an important coin, and I can respect that.

@tradedollarnut said:
In auction this summer

Do you have plans to buy it?

@TurtleCat said:
What is really interesting to me is that this finally debunks the myth that the mint was the anonymous buyer of the ‘33 in order to keep it out of private hands.

Yep. I was wrong in guessing that. Oh well!

The federal government allowed this one coin to be monetized (if that is the correct word) and sold at auction with the owner, Fenton, and the government splitting the proceeds. The buyer was assured no other 1933's would ever be monetized.

@MFeld said:
Not if he has no interest in it. And he has since confirmed that.

I didn’t see that.

Edited: My post was a cross post. We both posted at 3:37 PM EST.

@tradedollarnut said:
Let me expound - I have no interest in an artificial rarity. Just because the government deems only one legal to own doesn’t change the fact there are at least 13 [and most likely more] in existence. So to me it’s worth about what an 1894-S dime is worth.

Very interesting take I personally never thought of it this way

Nah I'm saving my pennies to fight with DLH over the 22 up at SB this month 😁

Here's a timeline that may be of interest:

(Information compiled by GoldFinger1969 from ATS)

March 2nd, 1933: 1st 1933 Saint-Gaudens DEs are struck. The official Mint records and most previous sources do NOT cite March 2nd as the date of first striking, but March 15th. Roger Burdette uncovered this discrepancy from a letter dated 1945.
March 4th: FDR sworn in as president
March 5th: Last official gold shipment to Federal Reserve banks leaves the Mint
March 6th: Treasury Secretary Woodin (a coin collector) orders Mint Director Robert J. Grant to not "pay out" any more gold. Grant complies, with an addendum: ".....this does not prohibit the deposit of gold and the usual payment thereof."
March 7th: A wire is sent from an Asst Attorney General stating that Mint personnel could continue exchanging gold coins for gold coins.
March 15th: A letter is sent by Acting Director Mary M. O'Reilly (Mint Director Robert J. Grant was on leave) informing Lewis Froman of Buffalo, NY that he could deposit gold bullion directly at the Mint in exchange for gold coin because it "....neither increases nor depletes the stock of gold in the Treasury."
April 5th: FDR's Executive Order 6102 goes into effect.
April 12th: Last "legal" day to participate in coin-for-coin exchanges.
May(?)-June(?) - An entire bag (250) of 1928 Saint-Gaudens DEs is stolen from the Philly Mint vault. The bag appears to have been stolen at the same time that 1933 Saints were placed in the vault.

It would not surprise me if the 1933 Double Eagle and the Jenny block don't perform that well in the auction. The real prize is the one cent magenta stamp.

The remaining 1933 Double Eagles hang over the one legal to own coin like dark cloud.

The Jenny block is a block, and an oddly sized one at that, and that area of collecting has declined since the introduction of self stick stamps. There are also plenty of Jenny singles available for trophy hunters.

The one cent magenta is a real stamp and is the only one known. It is the real trophy of the stamp collecting world. There may be a few multi-billionaire international exhibitors out there who would really like to add that to their exhibits. Stamp collecting may have declined but that stamp is still the king!

@291fifth said:
It would not surprise me if the 1933 Double Eagle and the Jenny block don't perform that well in the auction. The real prize is the one cent magenta stamp.

The remaining 1933 Double Eagles hang over the one legal to own coin like dark cloud.

The Jenny block is a block, and an oddly sized one at that, and that area of collecting has declined since the introduction of self stick stamps. There are also plenty of Jenny singles available for trophy hunters.

The one cent magenta is a real stamp and is the only one known. It is the real trophy of the stamp collecting world. There may be a few multi-billionaire international exhibitors out there who would really like to add that to their exhibits. Stamp collecting may have declined but that stamp is still the king!

I agree. There was a thread not that long ago where many knowledgeable members, Laura included, valued it at around $5 million IIRC.