In 2002, I attended the American Numismatic Association Convention at the Marriott MarquisHotel in Times Square in New York City. I was rooming with Harold Welch at the Milford Plaza, On our first night, we walked down to the Empire State Buildingand went up to the observation deck. It was a lovely clear evening. I heard many clusters ofviewers talking, and none of them were speaking English.

On another day we took a bus downtown and got off at Trinity Church where AlexanderHamilton is buried. There were many 9-11 memorial markers placed in their fence. Harold and Iwalked to the site of The World Trade Center. By then the rubble had been removed leaving alarge hole in the ground. Some nearby buildings were covered in plastic sheeting while waitingfor repair. Later we walked past Federal Hall and the New York Stock Exchange.

The auction of a 1933 Double Eagle was scheduled at Sotheby's on the day before opening of theconvention. This coin was thought to be unique and the only example that would ever bemonetized and legal to own. It had been owned by King Farouk but was withdrawn before theauction of his collection and remained in Egypt after the auction. Dealer Stephen Fenton hadacquired the coin in Europe and attempted to bring it back for sale in America, He was arrestedby Secret Service agents who claimed ownership of the coin was illegal.

Legal proceedings dragged on for five years with the coin in a Treasury vault at the World TradeCenter. Fenton showed that an export license had been issued on February 29, 1944, and signedby Secretary of the Treasury Henry C. Morgenthau. Ultimately the issue was settled with anagreement. The coin would be sold with Fenton receiving half of the money and the other halfgoing to The Treasury Department.

On Tuesday, July 30, 2002, I caught a bus up to the Metropolitan Museum of Art in Central Park.I spent about three hours walking around and noting things I had seen in my art history books.My biggest impression was made by Emanuel Leutze's At12' 5 by 21' 3, that thing is huge.

From there I walked over to Sotheby's. It was an easy walk but I was tired after three hours onmy feet in the museum. I had a can of pop and a chocolate chip cookie in the reception area torebuild some strength.

This was an important and historic numismatic event. The sale attracted a large crowd ofobservers interested in the sale. Like me, most had no thought of bidding on the coin.

The auction room was twice as large as needed for this sale. Two blocks of folding chairs wereset up but already filled when I got there. I joined the rest of the standing room crowd at theback. [See white circle on photo] The photo may give the impression that the room was full.Actually, there was open space behind me with a row of people standing back by the windows.

Total crowd size probably exceeded three hundred and may have been more than five hundred. Ididn't attempt to make a count.

There was a designated media area along the right side of the picture. As a member of theNumismatic Literary Guild, I might have been able to get media credentials if I had plannedbetter in advance. I might have claimed I was a reporter for the Northwest Coin Club newsletter.

At the end of the room was a raised podium with the coin on display. From where I stood, it wasa small gold dot. I never got close enough to really see it.

I don't recall seeing bid cards in the air during the sale. The main action was from bidderrepresentatives on the phone with their clients. The sale took less than nine minutes. The finalprice was $7,590,020. The split gave Fenton $3,300,000 and the Treasury Department got$3.300,000. The auction companies got 15% or $990.000. The remaining $20 went to theTreasury Department.

Provisions of the sale required that the coin be monetized. The buyer's representative presented$20 to Henrietta Holsman Fore, Director of the Mint. She signed the paper monetizing the coin. Iheard this happening but was not close enough to see any of it.

I shared a taxi for the ride back to the hotel with my good friend, ANA Librarian Nancy Green,and a casual acquaintance, ANA Convention Manager Ruthann Brettell.

The identity of the buyer would not be revealed for years. The coin was put on display at theNew York Federal Reserve Bank. Later it was revealed that the buyer was Stuart Weitzman. Hewas a luxury shoe designer.

The coin came to auction again on June 8, 2021, in Sotheby's sale. The saleincluded the 1856 British Guiana One Cent Magenta stamp that sold for $8.3 million and theplate block for the 1918 24-Cent stamp that sold at $4.86 million. This time the1933 Double Eagle realized $18,872,250. I did not attend this sale and was not the buyer.

To read the earlier E-Sylum articles, see:
FAROUK 1933 DOUBLE EAGLE RETURNS TO MARKET(https://www.coinbooks.org/v24/esylum_v24n11a22.html)
THE FAROUK 1933 DOUBLE EAGLE(https://www.coinbooks.org/v24/esylum_v24n21a24.html)
THE FAROUK 1933 DOUBLE EAGLE, PART 2(https://www.coinbooks.org/v24/esylum_v24n22a20.html)
THE FAROUK 1933 DOUBLE EAGLE, PART 3(https://www.coinbooks.org/v24/esylum_v24n24a17.html)