'Pawn Stars' boss Rick Harrison was ready to pay $25 million for one item — but it still wasn't enough
"Pawn Stars" creator and host Rick Harrison is known to be very stingy with his offers and has even turned down rare coins worth $700,000, as it could bankrupt him. That is why, when he makes an offer of close to $25 million, it's a very rare opportunity for a seller. Harrison did make that offer when he came across the world's most precious coins on a visit to the Legacy Club, which is known for showcasing valuable items. He met a guest, Ian, who showed him the 'Holy Grail' of coin collections, a 1933 Double Eagle $20 Gold Coin worth over $30 million. Harrison made a Hail Mary bid to get the rare coin, but he fell short by $5 million.
As Harrison walked into the building, he briefed the viewers on what was going to happen. "I'm about to see the most expensive coin in the world. "I'm about to see the world's most expensive coin," he said. After meeting with Ian, the host finally got to take a look at the rare coin. Ian pulled out the PCGS-graded 1933 Double Eagle $20 Gold Coin, which blew Harrison's mind. The coin was part of the last gold coins struck for circulation by the U.S. Mint. It is one of the rarest coins, as before its release, a presidential order from Franklin Delano Roosevelt prohibited banks from paying out gold coins or certificates. Thus, all 1933 Double Eagles were ordered to be destroyed, but only 10 managed to escape into private hands.
These coins were sold in the 1930s and early 1940s for as little as $1,000 to $2,200, and by 2021, their value had soared to the sky. In 2021, a 1933 Saint-Gaudens Double Eagle coin sold for $18.9 million at auction, becoming the single most expensive coin sold in a public sale, according to the Smithsonian Magazine. "It's literally considered one of the most beautiful coins ever made," Harrison said in the interview. When asked about the story of the coin, Ian shared that it was first purchased by King Farouk of Egypt in the 1940s. "He was the biggest coin collector in the world and purchased the coin in the United States, applied for an export license, and mainly because of that export license is the reason why there's this one coin that's legal to own," Ian explained. He then revealed that the coin disappeared from the King's possession for 40-odd years before surfacing back in America in the 1990s.
"As soon as it arrived in America, there was a sting operation by the FBI, and two coin dealers were arrested for being involved in it, trying to sell the coin. And then for many years, there was legal action. And the end result was that the coin was legal to be sold and to be legally owned. It was then auctioned in June 2021 and sold for almost $19 million," Ian said. Ian told Harrison that he represented the owner, and the coin was officially back on sale. When the pawn shop boss asked Ian how much the owner wanted for the coin, he told him that they were looking for over $30 million. While the number was too high, Harrison told the guest that he had a client who was interested in buying the coin. However, to verify the coin's worth, Harrison called in his expert, Jeff Garrett, and all he could say was, "Wow. It's stunning!"
He confirmed that it was an original, and on top of that, it was perhaps the most famous coin in the world. "This coin is the only legal one to own. And you know, for generations, no one even thought the coin existed," Garrett said. He then explained that many billionaires and multimillionaires were interested in the coin, and it could go for a lot of money at an auction.
Thus, on behalf of his client, Harrison made a bid of $25 million for the coin. "That includes my small commission. And that's what he's offering," he said. However, Ian wasn't ready to let the precious coin go for anything less than $30 million, and Harrison had to walk away empty-handed.
In other news, the gold from Kate Middleton and Meghan Markle's wedding rings is now available for sale. It was made from a Welsh mine given to the royal family many decades ago.
