The 1933 double eagle, a $20 gold piece with a mysterious history that involves a president, a king and a Secret Service sting operation, was auctioned Tuesday last night for a record price for a coin, $7.59 million, nearly double the previous record. The anonymous buyer, believed to be an individual collector who lives in the United States, made the winning bid in a fiercely contested nine-minute auction at Sotheby's in Manhattan. Eight bidders were joined by 500 coin collectors and dealers in an auction house audience seemingly devoid of celebrity bidders, while an additional 534 observers followed the bidding on eBay. As auction houses prepare for their fall seasons in an uncertain economy, the sale price "suggests that the marketplace for important items is enormously strong," said David Redden, a vice chairman at Sotheby's, who was the auctioneer. "This is an astonishing new record for a coin," he said. In an unprecedented move, the auction proceeds were split by the U.S. Mint and a London coin dealer, Stephen Fenton, who had won that right in court after having been arrested by Secret Service agents for trying to sell the coin in the Waldorf-Astoria Hotel in Manhattan in 1996. Henrietta Holsman Fore, the director of the U.S. Mint, who witnessed the sale, said, "The monies we receive will go toward helping to pay down the debt and to fight the war on terrorism." Fenton commented that the double eagle had been on "a long historic journey, with a very satisfying ending." He added, "I am thrilled with the price." The previous numismatic record holder was an 1804 U.S. silver dollar, which sold for $4.14 million in 1999. Sotheby's partner in the one-lot auction was Stack's Rare Coins, with which it shared the customary 15 percent commission. "I have never seen as much interest in the sale of any coin in my 30 years in the business," said Lawrence R. Stack, the company's managing director. "This is the Mona Lisa of coins," said Beth Deisher, editor of Coin World, the largest weekly coin publication in the United States, with a circulation of 85,000. "It is unique. Forbidden fruit." Collectors' Web sites have surged with speculation about the sale price, and enthusiasts even organized betting pools. 

Who stated, "This is an astonishing new record for a coin?"


Energy is stored in chemical compounds. This energy is called chemical energy. Chemical energy is a form of potential energy. When bonds between atoms are broken, energy is released. The wood in fireplaces has chemical energy. The energy is released as heat and light when the wood burns. Most living things get their energy from food. When food molecules are broken down, the energy is released. It may then be used to do work, like playing ball or studying science. If you have ever heard, "Eat a good breakfast", thats why. You need energy to do things during the day. To do those things you need energy. You get your energy from the food you eat. That energy is stored in your body until you need it. How did you get to school today? If you walked, you used chemical energy from the food you ate. What if you rode the bus or were driven in a car? Where did that energy come from? 

What is released when chemical compounds break down?


Energy often changes from one form to another. For example, the drummer transfers motion to sound energy. When the moving drumstick strikes the drum head, the drum starts to vibrate. The motion of the vibrating drum head creates the sound you hear. Any form of energy can change into any other form. Frequently, one form of energy changes into two or more different forms. Have you ever sat in front of a campfire? What are two things you notice? The fire creates light. It is also warm by the fire, meaning it creates heat. The energy of the fire comes from the stored energy in the wood. The wood contains chemical energy. As it burns, the chemical energy is changed into light and heat. Not all chemical energy changes produce light and heat. Our cars use gasoline as a fuel. Gasoline contains chemical energy. When our cars burn gasoline in their engines, it is converted into motion and heat. When energy changes forms, energy is conserved. 


How is burning wood in a campfire different from burning gasoline in a car?