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Tuesday, 5th February 2008 (3804 views)

An Egyptian couple have discovered a rare Double Eagle gold coin valued at up to $15 million while cleaning out a closet in their home, according to reports.

The Ar-Raya newspaper in Qatar said that the couple, Mohamed and Fatima Ismail, found the coin in a box that had belonged to Mohamed's grandfather while they were cleaning.

Mohamed sent the coin to experts to have it valued and was reportedly shocked to be told it is a piece of unique historical value.

Experts believe it is part of a 1933 collection of Double Eagle American $20 coins that was presented to Egypt's King Farouk by then-US president Theodore Roosevelt, the man who stopped the production of gold coins.

The find is particularly rare as it bears the later, 1907 Double Eagle design, which was created by US sculptor Augustus Saint-Gaudens. Only 12,367 of the high-relief version of these coins were ever produced.

It is notable for omitting the motto In God We Trust, as Roosevelt, who asked Saint-Gaudens to redesign American coins, did not believe the word God should appear on money.

 

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