There are some coins that are scarce not only in the coin-collecting industry but also not permitted to be possessed. These hidden coins are perhaps some of the most interesting stories in numismatics because they are rich in dispute, history, and governmental regulation. Here’s a look at five banned coins that collectors can only dream to possess:.
Double Eagle 1933
The 1933 Double Eagle is the crown jewel of forbidden coins. It was originally minted as a $20 gold piece, but its fate was sealed during the Great Depression when President Franklin D. Roosevelt ended the gold standard. Nearly all 445,500 coins were ordered destroyed, but a few managed to escape.
Today, they are considered property of the government, with only one recorded legal sale: a specimen that brought $7.6 million in 2002. Any others found are actively sought after by the U.S. Secret Service, so the Double Eagle is a symbol of both history and legal dispute.
2007 Liberty Head Double Eagle
The modern issues with prohibited coins can be summed up by the 2007 Liberty Head Double Eagle. It is a coin purchased legally by a collector named Dwight Manley; however, it was later seized by federal agents claiming government rights.
This case represents the battle between collectors and the authorities on historic coins. Despite its attraction, possession of this coin has become a legal quagmire that shows how precarious the line is between private ownership and public history.
1974 Aluminum Penny
The 1974 Aluminum Penny is an interesting example of experimental coinage. Struck at a time when copper prices were rising, 1.6 million of these pennies were minted as a cost-saving measure and distributed to Congress for evaluation.
Most were destroyed when the experiment was considered unsuccessful, but a few survived. When one surfaced in 2014, it triggered a court case that again outlawed the coin. This penny is an “almost what if” relic of “what if” in U.S. coinage, beckoning collectors who are intrigued by its rarity and history.
1964 Peace Dollar
The 1964 Peace Dollar can be considered numismatically, as a ghost story. Though over 300,000 of these coins were minted, never to have been released in circulation, but supposedly all being destroyed, several still exist rumor has it.
The U.S. government considers that any pieces which may remain are illegal for any collector, but the myths have only strengthened their allure, for collectors that is the greatest treasure that no one can claim.
1934 Chinese Silver Dollar
Forbidden coins are not an American phenomenon. The 1934 Chinese Silver Dollar, with the image of Sun Yat-sen, is a prime example of international intrigue.
These coins were minted during a critical period in Chinese history but were prohibited from export by the government. This restriction has made them highly sought after by collectors outside China, although acquiring one legally is nearly impossible.
Legal Framework
Owning forbidden coins is fraught with legal complications. Governments usually treat these coins as public property, regardless of how they were acquired. When forbidden coins surface, they’re often confiscated, making their legal possession nearly unattainable.
Collector Appeal
The allure of forbidden coins lies in their mystique. They’re more than currency; they’re pieces of history that tell tales of political decisions, economic shifts, and legal battles. While their forbidden status limits ownership, it also elevates their desirability and value.
When rare exceptions occur, such as the legal sale of the 1933 Double Eagle, these coins command astronomical prices, reflecting their historical importance and collector demand.
Forbidden coins are those that capture the imagination of the collector in any part of the world. They remind us of the history’s pivotal moments, government decisions, and the extent to which people would go to keep or own a piece of the past. These treasures may be out of reach for most, but their stories inspire and captivate.