5 Forbidden Coins That Every Collector Dreams Of: The world of coin collecting is a treasure trove of captivating stories, rare finds, and pieces that hold immense historical significance. Among these are certain coins that stand out—not for their monetary value or scarcity alone, but because owning them is outright forbidden. These coins, steeped in mystery and entangled in legal disputes, have intrigued collectors for generations. Here’s a closer look at five of the most famous forbidden coins and the remarkable tales that make them so desirable.
1933 Double Eagle
Often hailed as the crown jewel of forbidden coins, the 1933 Double Eagle has a story as dramatic as its value. Designed to be $20 gold coins, they were minted at a time of economic upheaval in the United States. President Franklin D. Roosevelt’s decision to abandon the gold standard during the Great Depression led to nearly all 445,500 coins being melted down.
However, a small number managed to escape destruction, creating one of the most legendary tales in numismatics. The U.S. government considers these coins federal property, making private ownership illegal. Only one has ever been legally sold, fetching an astonishing $7.6 million at auction in 2002. The rest are vigilantly guarded by the Secret Service, which continues to seize any newly discovered examples.
2007 Liberty Head Double Eagle
The saga of the 2007 Liberty Head Double Eagle illustrates the ongoing tug-of-war between collectors and government regulations. Dwight Manley, a prominent coin collector, legally purchased this coin, only to have it confiscated by federal agents. Authorities argued that the coin had never been authorized for private ownership, asserting their control over its fate.
This case set a legal precedent, underscoring the government’s authority to reclaim certain coins even after they enter the private market. Today, the 2007 Liberty Head Double Eagle stands as a symbol of the blurred lines between legal collecting and federal jurisdiction.
1974 Aluminum Penny
The 1974 Aluminum Penny is an experimental coin born out of necessity. In the 1970s, with copper prices soaring, the U.S. Mint explored cost-effective alternatives. This led to the production of approximately 1.6 million aluminum pennies as test coins.
While these coins were presented to Congress for evaluation, most were subsequently recalled and destroyed. A few, however, slipped through the cracks, making them highly sought after by collectors. In 2014, one resurfaced, igniting a legal battle that reaffirmed the government’s stance: possessing these experimental coins is against the law.
1964 Peace Dollar
Known as the “ghost coin” of American numismatics, the 1964 Peace Dollar has an almost mythical reputation. Over 300,000 of these coins were minted, but none were officially released to the public. The entire batch was supposedly destroyed under strict orders.
Despite this, rumors persist that a few coins survived. The U.S. government has declared any existing 1964 Peace Dollars illegal to own. Yet, their allure endures, with collectors dreaming of one day uncovering these elusive relics, even if legal ownership remains impossible.
1934 Chinese Silver Dollar
The 1934 Chinese Silver Dollar tells a story of historical and international intrigue. Featuring the likeness of Sun Yat-sen, this coin commemorates a pivotal moment in Chinese history. While these coins were initially meant for circulation, the Chinese government later banned their export, making them exceedingly rare outside China.
In many jurisdictions, trading or owning these coins is illegal due to international laws. Their scarcity and profound historical significance have only heightened their allure among collectors.
These forbidden coins transcend their physical form, embodying moments of political upheaval, innovation, and global change. While owning them may be out of reach, their stories continue to inspire fascination, proving that the true value of a coin often lies in its history and the mysteries it carries.