Arithmetic for Reporters

ARITHMETIC FOR REPORTERS….Associated Press reports that the Mint has seized ten 1933 Double Eagles from a dealer who turned them in to determine their authenticity:

The coins, which are so rare that their value is almost beyond calculation, are public property, [said David Lebryk, acting director of the Mint].

….In 2002, Sotheby’s and numismatic firm Stack’s auctioned off a 1933 Double Eagle coin for $7.59 million, the highest price ever paid for a coin.

That’s “almost beyond calculation”? Looks to me like they’re worth about $75.9 million, right? Not so hard after all….

Support Nonprofit Journalism

If you enjoyed this article, consider making a donation to help us produce more like it. The Washington Monthly was founded in 1969 to tell the stories of how government really works—and how to make it work better. Fifty years later, the need for incisive analysis and new, progressive policy ideas is clearer than ever. As a nonprofit, we rely on support from readers like you.

Yes, I’ll make a donation