The allure of forbidden coins is a unique blend of history, rarity, and controversy. These coins are not just valuable; they carry stories of government bans, legal battles, and cultural significance that make them incredibly fascinating to collectors. Below, we delve into five of the most coveted forbidden coins that numismatists dream of owning, exploring both their historical context and the hidden truths behind their forbidden status.
Table of Contents
- 1933 Double Eagle
- 1974 Aluminum Penny
- 1964-D Peace Dollar
- 1973 Krugerrand Ban
- Ancient Roman Coins
- FAQs
1933 Double Eagle
The 1933 Saint-Gaudens Double Eagle is perhaps the most infamous forbidden coin in the history of American numismatics. Originally minted during the Great Depression, only a few of the 445,500 coins that were struck survived the melting process after President Franklin D. Roosevelt’s decision to abandon the gold standard.
Why It’s Forbidden: The U.S. government has declared that any surviving 1933 Double Eagles are stolen property. Only one legally owned specimen exists, which was sold for $7.59 million in 2002.
The Untold Story: This coin’s history is filled with intrigue, including smuggling, hidden hoards, and a long legal battle. Its forbidden status only adds to its mystique, making it one of the most sought-after yet unattainable pieces for collectors.
1974 Aluminum Penny
In 1974, the U.S. Mint experimented with aluminum as a substitute for copper in penny production due to rising material costs. Around 1.5 million aluminum pennies were struck, but the project was ultimately abandoned, and the coins were ordered to be destroyed.
Why It’s Forbidden: A few of these aluminum pennies were never returned to the Mint and are now considered government property. Any remaining specimens have been seized by the government through legal battles.
The Untold Story: Over the years, rumors have circulated that some of these coins were kept as souvenirs by congressmen or pocketed by Mint employees, adding to the intrigue surrounding these rare pennies.
1964-D Peace Dollar
The 1964-D Peace Dollar was intended to be the final silver dollar minted in the U.S. However, the Treasury Department halted production and ordered all the coins to be melted down.
Why It’s Forbidden: Officially, no 1964-D Peace Dollars exist, as they were supposed to be destroyed. Yet, persistent rumors suggest some coins may have escaped destruction. Any such coin is considered illegal to own.
The Untold Story: Some collectors claim to have seen these coins in private collections, but no specimen has ever been officially authenticated. The mystery surrounding the 1964-D Peace Dollar continues to fuel speculation and desire.
1973 Krugerrand Ban
The South African Krugerrand, introduced in 1967, became a popular gold bullion coin. However, in the 1970s, it was banned in the U.S. and other countries due to international sanctions against apartheid-era South Africa.
Why It’s Forbidden: During the ban, owning or trading Krugerrands was illegal in several countries. Although the ban was lifted in the 1990s, some countries still impose restrictions.
The Untold Story: Despite the legal restrictions, Krugerrands were smuggled and traded on the black market, making them a symbol of defiance and a covert form of wealth. Today, collectors value apartheid-era Krugerrands for both their historical significance and political symbolism.
Ancient Roman Coins
Ancient Roman coins are prized by collectors for their rich historical value. However, many of these coins originate from protected archaeological sites, where their removal is prohibited by law.
Why They’re Forbidden: Coins excavated from such sites are considered state property in countries like Italy and Greece, making it illegal to possess or trade them without legal documentation.
The Untold Story: The black market for ancient Roman coins is notorious for smuggling, with many coins illegally traded and often misrepresented. While collectors argue that coins have been traded for centuries, governments and archaeologists continue to fight for the preservation of these artifacts.
FAQs
What makes a coin forbidden? A coin becomes forbidden due to government bans, legal claims of ownership, or cultural protection laws that prevent its trade or possession.
Can you legally own a 1933 Double Eagle? Only one surviving 1933 Double Eagle is legally owned by a private collector, making all other examples illegal to own.
Why was the Krugerrand banned? The Krugerrand was banned because it was associated with the apartheid government of South Africa, which led to international sanctions.
Are ancient coins legal to own? Ancient coins can be legally owned if they were obtained through legal means and not smuggled or looted from protected archaeological sites.
What happened to the 1974 Aluminum Penny? Most of the 1974 Aluminum Pennies were destroyed, and the remaining ones are considered government property. Any coin that surfaces is often seized by the government.
Owning a forbidden coin involves a blend of historical significance and legal risk. While these coins offer immense value and mystery, the controversy surrounding them only amplifies their allure, making them the ultimate forbidden treasures in the world of numismatics.
