Behold the dark underbelly of numismatics.
August 29, 2005 12:18 PM Subscribe
The most expensive $20 you’ll never see. (Unless you happen to be kickin’ it in Long Beach next month...) The 1933 “double eagle”, a one oz. gold coin minted by the United States just prior to dropping the gold standard, is now worth approximately $10,000,000 and is the stuff of coin collection legend. A collector by the name of Israel “Izzy” Switt acquired and held on to 10 of them—just after the last “double eagle” had officially been melted down by the government in 1937. (Timeline.) Now, decades later, the coins are the subject of an intense legal battle between the US government and Switt’s descendants. “It’s a hell of a story.”
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