What: An awesome book by author David Tripp
Where: Bookstores everywhere
How Much: $16.38 from Amazon (as little as $2.70 used)
Would you believe me if I told you that one of history’s greatest mysteries was about… a handful of coins? Author David Tripp makes the case with his book Illegal Tender: Gold, Greed, and the Mystery of the Lost 1933 Double Eagle, a tale of intrigue at the highest levels of government, back-room deals between shady coin dealers, a madness of pursuit worthy of the search for the Holy Grail… and one corpulent and corrupt king.
Here’s the basics of the story in a nutshell:
Theodore Roosevelt had long been critical of the beauty – or lack thereof – of American coinage. In fact, one of the things he was bound and determined to do while in the White House was to remedy this, and to that end he sent a brutally short and to-the-point memo to Secretary of the Treasury Leslie Mortimer Shaw on December 27, 1904: “I think our coinage is artistically of atrocious hideousness.” This memo set off a chain of events that eventually resulted in the hiring of famed American sculptor Augustus Saint-Gaudens to redesign American coins. Although Saint-Gaudens was in ill health – as it turns out, he would barely live long enough to see his designs to completion – he took to the task with gusto, creating new designs for just about every American coin. Sadly though, most of Saint-Gaudens’ designs were simply too complex for the Mint to implement. Striking a coin four times was perfectly acceptable for medallions, but it just wasn’t cost-effective to do the same for pennies. Of all of Saint-Gaudens’ designs, the only one to be implemented without major alterations would be $20 gold piece, which was nicknamed the “double eagle”. The coin would go down in history as perhaps the most beautiful coin the United States ever minted, and it would enjoy robust circulation for around 25 years.
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