Coin collecting is a captivating hobby that blends history, art, and mystery. Among the many fascinating tales of rare coins, some are so controversial and scarce that they are forbidden to possess. These coins represent key moments in history and the ongoing tension between collectors and governments. Let’s take a look at five of the most intriguing coins that are not allowed to be owned.
1933 Double Eagle
The 1933 Double Eagle is perhaps the most iconic forbidden coin in U.S. history. Originally minted as a $20 gold coin during the Great Depression, it was rendered obsolete when President Franklin D. Roosevelt moved the U.S. off the gold standard. This decision led to the melting down of nearly all 445,500 coins.
However, a few managed to escape destruction, making them incredibly valuable. One of them was legally sold at auction in 2002 for an astonishing $7.6 million. The rest, however, remain in the possession of the U.S. government, with the Secret Service keeping a close watch on any that surface.
2007 Liberty Head Double Eagle
A modern addition to the forbidden coin list, the 2007 Liberty Head Double Eagle adds an intriguing twist to the world of rare coins. Though Dwight Manley, a prominent collector, obtained the coin legally, it was later seized by federal authorities. This case brings attention to the fine line between legal acquisition and government intervention in coin collecting.
1822 Capped Bust Dime
The 1822 Capped Bust Dime is one of the rarest and most valuable dimes, often making headlines when it is sold at auction. The controversy surrounding its ownership illustrates the complexities of collecting historical artifacts. This coin reminds collectors to be cautious, as some rare coins are subject to legal restrictions that might not be immediately clear.
1974 Aluminum Penny
The 1974 Aluminum Penny is a unique experiment in U.S. coinage, created as a cost-saving measure during a time when copper prices were high. A total of 1.6 million aluminum pennies were struck for review, but they were never approved for circulation and were mostly recalled and destroyed.
Nevertheless, a few of these pennies still exist, making them highly sought after by collectors. The discovery of one such penny in 2014 sparked a legal battle, solidifying its forbidden status.
1964 Peace Dollar
Often called the “ghost coin” of numismatics, the 1964 Peace Dollar holds a mysterious place in American coinage. Although over 300,000 were minted, none were released into circulation, and the U.S. government claims that all of them were melted down. However, rumors persist that some may have survived, making them illegal to own and adding to their intrigue.
1934 Chinese Silver Dollar
The 1934 Chinese Silver Dollar is a forbidden coin that transcends borders. Featuring the likeness of Sun Yat-sen, this coin represents a pivotal moment in Chinese history. Due to export restrictions imposed by the Chinese government, it is extremely difficult to legally obtain one of these coins outside of China, heightening its desirability and mystery.
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Coins like these not only showcase the intersection of history and artistry but also serve as a reminder of the complex legal landscape surrounding the ownership of rare artifacts. These forbidden coins continue to captivate collectors, with their fascinating backstories and legal challenges making them even more sought after.
FAQs
Why is the 1933 Double Eagle forbidden? After the U.S. left the gold standard, most of these coins were melted down, making them illegal to own.
What happened to the 1964 Peace Dollar? Although over 300,000 were minted, none were released, and any surviving coins are considered illegal.
Why was the 1974 Aluminum Penny recalled? It was an experimental coin that was never approved for circulation.
Are Chinese Silver Dollars legal to own? Chinese export laws prohibit the legal ownership of these coins outside of China.
What is unique about the 2007 Liberty Head Double Eagle? Despite being acquired legally, its ownership remains disputed, as it was later seized by the U.S. government.