The allure of forbidden coins lies in their rarity and the air of mystery surrounding them. Often banned due to historical controversies or government restrictions, these coins are the ultimate prize for collectors. They represent not just monetary value but the thrill of possessing something so rare it’s deemed illegal. Here are five forbidden coins collectors dream of owning, along with the intriguing stories that make them so desirable.
Saint-Gaudens Double Eagle (1933)
The 1933 Saint-Gaudens Double Eagle is the most famous forbidden coin in history. Designed by Augustus Saint-Gaudens, it was minted during the Great Depression but never circulated due to a government recall.
Why It’s Forbidden: President Franklin D. Roosevelt’s order to melt all gold coins meant nearly all of the 445,500 Double Eagles were destroyed. The few that survived are considered stolen property by the U.S. government. Only one coin, sold at auction for $7.59 million in 2002, is legally owned by a private collector.
The Untold Story: This coin’s saga includes smuggling, a hidden hoard, and a lengthy legal battle between the U.S. government and a family that inherited multiple coins. Its forbidden status only adds to its allure for collectors.
Aluminum Penny (1974)
The 1974 Aluminum Penny was a bold experiment by the U.S. Mint to combat rising copper prices. Approximately 1.5 million pennies were struck in aluminum, but the project was scrapped, and the coins were ordered destroyed.
Why It’s Forbidden: Although most were melted, a few escaped destruction. The U.S. Mint claims ownership, and any found in private hands are considered government property. In 2014, the government seized a specimen before it could be auctioned.
The Untold Story: Rumors suggest congressmen kept some of these pennies as souvenirs, and tales of missing coins circulate among collectors. The mystery fuels their forbidden appeal.
Peace Dollar (1964-D)
The 1964-D Peace Dollar was intended to be the last silver dollar minted in the U.S. Over 300,000 coins were struck at the Denver Mint, only to be melted down before release.
Why It’s Forbidden: The Treasury insists that no 1964-D Peace Dollars entered circulation, making any surviving specimens illegal to own. Rumors persist that a few coins escaped destruction, but none have been authenticated.
The Untold Story: Collectors claim to have seen these elusive coins in private collections. The possibility that some exist keeps numismatists searching for the ultimate prize.
Krugerrand Ban (1973)
The South African Krugerrand, one of the world’s most famous gold coins, was banned in many countries, including the U.S., during the 1970s due to South Africa’s apartheid policies.
Why It’s Forbidden: Though the U.S. lifted its ban in the 1990s, some nations still restrict Krugerrands. During the ban, the coin symbolized South African gold, and owning one was politically charged.
The Untold Story: A black market for Krugerrands flourished, with buyers paying premiums for these contraband coins. Collecting an original apartheid-era Krugerrand remains a controversial yet fascinating experience.
Ancient Roman Coins
Ancient Roman coins are highly coveted, but many come from forbidden archaeological sites in countries like Italy and Greece, where strict laws govern their excavation and ownership.
Why They’re Forbidden: Coins taken from protected sites are considered state property. If found in private collections, they can be seized and returned to their countries of origin, posing a legal risk for collectors.
The Untold Story: The illicit trade of ancient coins is a global issue. Stories of smuggling and black-market deals rival crime thrillers, and the debate over cultural heritage versus private ownership continues to make these coins highly controversial.
Forbidden coins captivate collectors not just because of their rarity but because of the stories of intrigue, mystery, and controversy they carry. For numismatists, these coins are more than currency—they are the ultimate trophies of a collector’s passion.
FAQs
Why is the 1933 Double Eagle illegal?
Most were destroyed, and surviving coins are considered stolen property.
What happened to the 1974 Aluminum Penny?
Most were melted, but a few escaped, and they remain U.S. government property.
Why is the 1964-D Peace Dollar banned?
All were supposed to be destroyed, and none were officially released.
Is it legal to own a Krugerrand?
Yes, in most countries, but some still restrict ownership due to past bans.
Why are Ancient Roman coins forbidden?
Many come from protected sites and are considered state property.
