A gold coin owned by King Farouk sold at auction for about $20 million

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Gold coin sold at auction

picture released, Sotheby’s

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The coin bears the symbol of freedom on one side and an American eagle on the other

A gold coin minted in the United States in 1933 sold at auction for nearly twenty million dollars, the highest price ever paid for a coin.

The coin is called a “double eagle” and was sold at an auction organized by Sotheby’s in New York.

It was the last gold coin to be produced for circulation in the United States, but it was never circulated as then-President Franklin Roosevelt withdrew America from the gold standard in an attempt to lift the country out of depression.

Most of the coins were subsequently destroyed, and later declared illegal possession. That currency became the only example that could be owned by the private sector, as it was owned for a period of time by the late King Farouk of Egypt, and was later seized in a secret intelligence operation in New York in 1996.





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