US Double Eagle gold coin sold for record $18.9m

A 1933 US gold coin has been sold at a Sotheby’s public sale in New York City for a record $18.9m (£13.4m).

With a face worth of $20, the Double Eagle was the final gold coin produced for meant circulation in America.

But it was by no means issued as President Franklin D Roosevelt withdrew the US from the gold normal, in an effort to raise the nation from melancholy.

Most of the cash had been then destroyed and declared unlawful to personal – aside from the one sold on Tuesday.

It had belonged for a time to King Farouk of Egypt, and was later seized in a secret service sting operation in New York City.

On Tuesday, it was sold by shoe designer Stuart Weitzman to a bidder whose identification has not been revealed.

The Double Eagle has a picture of Liberty on one aspect and an American eagle on the opposite.

The coin also smashed records the only time it previously came to the market, 19 years ago.

“The sale marks the second time this 1933 Double Eagle coin set a world record as the most valuable coin, having sold at Sotheby’s New York in 2002 for $7.59m in an auction,” Sotheby’s stated in a press release.

Separately, Sotheby’s stated that on Tuesday “the sole-surviving example of the legendary British Guiana One-Cent Magenta achieved $8.3m, retaining its place as the most famous and valuable stamp in the world”.

And one other merchandise, the 24-Cent Inverted Jenny Plate Block, fetched $4.9m.

The public sale home described it as “the most well-known and sought-after American stamp rarity”.

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