Forbidden Coins : Numismatics—the study and collection of coins—reveals fascinating stories of human history, politics, and craftsmanship. While most coins circulate freely, a select few have become legendary for their rarity, controversial histories, and extraordinary value.
These “forbidden” coins represent the pinnacle of numismatic collecting, each carrying a unique story of how they came to exist against the odds.
The 1933 Double Eagle: America’s Forbidden Gold
The 1933 Double Eagle stands as perhaps the most famous forbidden coin in American history. When President Franklin D.
Roosevelt issued Executive Order 6102 prohibiting private gold ownership in 1933, nearly all Double Eagles from that year were melted down before leaving the mint. Officially, none were ever legally released for circulation.
However, a handful mysteriously disappeared from the Philadelphia Mint. For decades, the U.S. government aggressively pursued and confiscated any 1933 Double Eagles that surfaced.
In a remarkable turn of events, one specimen sold at Sotheby’s in 2002 for $7.6 million. The same coin later fetched $18.9 million at auction in 2021, making it the most expensive coin ever sold.
Experts believe five or six others may exist in private collections, potentially worth upwards of $80 million each today.
The existence of these coins in private hands remains legally contentious.
While the 2002 sale was sanctioned by the Treasury Department (which received half the proceeds), other specimens remain the subject of lengthy legal battles with the government maintaining these coins cannot be legally owned.
The Edward VIII Gold Sovereign: The Uncrowned King’s Legacy
When King Edward VIII abdicated the British throne in 1936 to marry American divorcée Wallis Simpson, he created a numismatic rarity almost by accident.
During his brief 326-day reign, pattern coins bearing his likeness were produced but never officially released into circulation.
What makes the Edward VIII gold sovereign particularly unusual is that the king broke with centuries of tradition by refusing to face right on his coinage (the opposite direction from his predecessor).
This small act of rebellion resulted in pattern coins that were never approved for mass production.
Only six Edward VIII gold sovereigns are known to exist. One resides in the Royal Mint Museum, while another sold privately in 2020 for approximately £1.65 million (about $2.2 million).
Today, experts estimate these coins could command upwards of $85 million each, not just for their extreme rarity but for the romantic and controversial history they represent.
Most remarkable, however, is the persistent rumor that one of these coins occasionally passes through circulation, anonymously spending time in cash registers before being recognized by a sharp-eyed collector.
The 1804 Silver Dollar: The “King of American Coins”
Despite its date, no 1804 silver dollars were actually minted in 1804. Instead, they were struck in 1834-1835 as diplomatic gifts for foreign dignitaries.
The U.S. Mint, instructed to prepare special proof sets including examples of every American coin then in circulation, realized no silver dollars had been minted since 1803.
Rather than using the current date, they created dollars dated 1804—the last year of official production.
Only fifteen authentic 1804 silver dollars exist across three different “classes” based on when they were struck.
Eight belong to “Class I” (the original diplomatic presentation pieces), one to “Class II” (a unique specimen at the Smithsonian), and six to “Class III” (made later from the original dies).
One Class I specimen sold for $10 million in a private transaction in 2013. Today, experts believe these coins could fetch between $80-90 million each.
Their status as “forbidden” stems from early controversy over their authenticity and the fact that they represent a fascinating government “error” that created instant rarities.
Most intriguingly, numismatic legend suggests one 1804 dollar disappeared from a diplomatic gift set presented to the King of Siam and may still circulate anonymously in Southeast Asia.
The 1849 Double Eagle: California Gold Rush Mystery
The California Gold Rush led to the creation of the United States’ first $20 gold coin—the double eagle. While regular production began in 1850, at least one specimen dated 1849 was struck as a pattern or presentation piece.
For over a century, this coin was considered unique, residing in the Smithsonian Institution’s National Numismatic Collection.
However, persistent rumors in numismatic circles suggest a second example may exist. Gold rush-era records indicate the possibility of two pattern pieces being struck, with the second potentially given to a prominent California banker or politician.
If authentic, such a coin would represent one of the most valuable numismatic items in existence, potentially worth well over $80 million.
The “forbidden” nature of this coin stems from the legal questions surrounding its potential private ownership.
As a pattern piece never officially released for circulation, any privately-held 1849 Double Eagle would exist in a legal gray area similar to the 1933 Double Eagle, potentially subject to government seizure.
The Umayyad Gold Dinar of 723 CE: Desert Gold
Islamic coinage represents some of history’s most beautiful and historically significant currency. Among these, the Umayyad gold dinar from 723 CE (105 AH in the Islamic calendar) stands as perhaps the most extraordinary.
What makes this coin exceptionally rare is its inscription stating it was made from gold mined at a location owned by the “Commander of the Faithful.”
This inscription refers to the only known Islamic gold mine at that time, located in the Arabian Peninsula in what is now Saudi Arabia. This makes it the earliest Islamic coin to explicitly mention its gold source.
Only about a dozen specimens are known to exist, with one selling at auction in 2019 for £3.7 million (approximately $4.8 million).
Experts believe the finest examples could potentially reach valuations of $85-90 million today, particularly given their historical significance connecting early Islamic governance, religion, and economics.
These coins occupy a complex legal position—technically forbidden in some jurisdictions due to export restrictions from their countries of origin, yet occasionally appearing in international markets through channels established before modern antiquities laws.
The “Ides of March” Denarius: History’s Most Famous Assassination
Perhaps no coin captures a pivotal historical moment more dramatically than the “Ides of March” denarius, struck by Brutus shortly after his participation in the assassination of Julius Caesar in 44 BCE.
The coin features the portrait of Brutus on one side and, strikingly, displays a pair of daggers flanking a “liberty cap” on the reverse—an explicit celebration of Caesar’s murder.
Only about 80 examples are known to exist, most in museums. The coin represents ancient propaganda at its most brazen, a permanent metallic celebration of political assassination.
Given its explicit political message, it might be considered the world’s first instance of a “forbidden” coin—one that would have placed its owner in mortal danger once Octavian (later Augustus) defeated Brutus and Mark Antony to become Rome’s first emperor.
When these coins occasionally appear at auction, they command extraordinary prices. One exceptional specimen sold for nearly $4.2 million in 2020.
Experts believe the finest examples could potentially reach values exceeding $80 million today, given their combination of extreme rarity, historical significance, and artistic execution.
Persistent rumors suggest that excavations at ancient Roman sites occasionally yield new specimens that quietly enter private collections without public documentation.
The Mysterious Nature of Forbidden Coins
What makes these six coins particularly fascinating is not just their extraordinary monetary value but the complex legal and historical circumstances surrounding them.
Each exists in a liminal space—technically not intended for circulation yet occasionally found there, legally questionable yet undeniably authentic, officially forbidden yet persistently sought after.
The notion that any of these coins might still anonymously circulate, passing through ordinary transactions before being recognized by a knowledgeable collector, adds a thrilling dimension to their mystique.
While most examples reside in museums or known private collections, the possibility remains that unidentified specimens could emerge from unexpected places—a cash register, an old family collection, or an archaeological dig.
For serious collectors, these coins represent the ultimate acquisition—not merely for their monetary value but for the historical narratives they embody.
Each tells a story of political upheaval, governmental decision-making, and the sometimes accidental creation of numismatic treasures.
These forbidden coins remind us that currency exists at the intersection of art, politics, economics, and history.
Their extraordinary value—estimated at approximately $86 million each for prime specimens—reflects not just their rarity but their capacity to connect us directly with pivotal moments in human history, from the assassination of Julius Caesar to the abdication of Edward VIII.
For those fortunate enough to encounter one of these numismatic treasures, the experience offers a tangible connection to history’s most dramatic moments—and potentially, a life-changing financial windfall.
The quest to discover these elusive coins continues to drive the numismatic community, ensuring that the legends of these forbidden treasures will endure for generations to come.
