Legandary gold coin sells for more than $4.5 million at auction

January 19th, 2014

Thus the piece of news below doesn't concern philately but numismatics, FindYourStampsValue.com couldn't pass over it. We publish it for our friends and colleagues - coins collectors.

An extremely rare coin, the first of its kind to be minted in the United States, has sold at auction in Florida for more than $4.5 million.

The 1787 Brasher doubloon has been called the most valuable coin in the world, and the price it fetched at auction - $4,582,500 - paid by an anonymous bidder, confirms that.

The coin, the first of its kind, was made by a silversmith named Ephraim Brasher who lived next door to George Washington after the Revolutionary War at 1 Cherry St on Manhattan's Lower East Side.

He created the Brasher doubloon in 1787. According to Heritage Auctions, the design on the front of the coin was adopted from the New York coat of arms - a sun rising of the peak of a mountain with a body of water in the foreground.

Brasher's name is spelled out below the waves in small letters and the words around the edge of the coin say NOVA EBORACA COLUMBIA EXCELSIOR - New York, America, Ever Higher. Excelsior remains the state motto to this day.

On the reverse, an eagle with wings outspread, a shield covering its body and an "EB" stamp over one of the wings. It has an olive branch in its claw and 13 stars surrounding its head. Around the edge of the coin is the legend "UNUM E PLURIBUS," which translates as "one of many."

The coin measures 28.6mm and weighs 26.66 grams and is 89 per cent gold, six per cent silver and three per cent copper.

It contained about $16 worth of gold, which in the late 18th century was a not insignificant amount of money.

It has been called the most valuable and most important coin in the world.

"The legendary Brasher Doubloon is one of the most important coins in American history because it's the first gold coin struck for the young United States and it's one of only a handful that exist," said Todd Imhof, executive vice president of Heritage Auctions.

The doubloon hasn't been offered for sale since it was bought by a Chicago resident in 1979 for $430,000.

The coin was at the center of the plot of a 1942 Raymond Chandler novel called The High Window, which was later adapted into a film noir and called The Brasher Doubloon.

The novel was a Philip Marlowe mystery about the fictional theft of the Brasher doubloon.

It was purchased during the U.S. Coin Signature Auction last week at Florida's United Numismatics Convention in Orlando.

FindYourStampsValue.com thanks www.dailymail.co.uk for the provided information.

Tags: #Auctions #USA