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 is the managing director of Stack's Rare Coins?
Beth Deisher