Stuart Weitzman’s 1933 Double Eagle Gold Coin Sells for a Record US$18.9 Million at Sotheby’s
Fashion mogul Stuart Weitzman’s 1933 Double Eagle gold coin shattered auction records for the world’s most valuable coin at Sotheby’s New York on Tuesday morning.
The rare coin, the only of its kind in private ownership, sold for US$18.9 million, nearly doubling the world record, Sotheby’s said. The result came after a three-and-a-half-minute bidding war among three bidders in the saleroom at Sotheby’s York Avenue headquarters and another on the phone. The buyer’s identity was not disclosed.
The previous auction record for a coin was set in 2013 by a 1794 Flowing Hair silver dollar, which sold for US$10 million at Stack's Bowers in New York.
Prior to the auction, Sotheby’s estimated the coin’s value to be somewhere between US$10 million and US$15 million. Weitzman, best known for designing his namesake shoes, acquired the coin at Sotheby’s New York in 2002 for a then-record US$7.59 million. That auction was conducted on behalf of the U.S. government. The coin had belonged for a long time to King Farouk of Egypt and was later seized in a secret service sting operation in New York City.
It was the first and only time the 1933 Double Eagle coin went into private ownership, Sotheby’s said.