One of the first gold coins struck in the United States, a 1787 New York Brasher Doubloon, has been sold for a record-shattering $9,360,000 in this week’s FUN Sale.
RARE GOLD COIN SELLS FOR NEAR $10 MILLION!
Smashing a private treaty transaction involving Heritage Auctions, Monaco’s Finest Known and an anonymous West Coast collector in 2018. The 2018 sale of the MS63 specimen, second finest graded of only 7 known specimens, was recorded at just over $5 million, and was the highest ever reported for a U.S. gold coin.
The 1787 Gold Brasher Doubloon that sold in this week’s FUN sale is graded MS65 by NGC. The $9,360,000 price it realized is a new record for a rare gold coin eclipsing the record set at $5.280 million by the 1804 $10 PR65+, just one day before. What is amazing about all of this is that a new record was only recorded just last month at $5.2 million by the “Eid Mar” Julius Caesar gold aureus coin.
A bit confusing? Let me recap the gold coin records:
1. January 2014; MS63 Brasher Doubloon bought by Monaco’s Finest Known sets record at $4.852 million.
2. March 2018; Monaco’s Finest Known sells MS63 Doubloon for $5 million.
3. December 2020; “Eid Mar” Julius Caesar Roman Aureus sets new record at $5.2 million.
4. January 20, 2021; 1804 $10 Gold PR65+ sets new record selling for $5.280 million.
5. January 21, 2021; 1787 Doubloon MS65 shatters record selling for $9.36 million.
Doubloons have long been called the “Most Valuable Coin in the World”. They were the first truly American gold coins, struck by silversmith Ephraim Brasher, George Washington’s New York City neighbor. The era’s most famous doubloons are those with Brasher’s original design, which adapts New York’s state coat of arms on one side and the Great Seal of the United States on the other. An eagle clutching an olive branch and arrows bears Brasher’s distinctive hallmark, the letters EB inside an oval, on the eagle’s right wing.
The front of the coin features a sun rising over a mountain peak and the sea, with Brasher’s name spelled out below the waves and the words NOVA EBORACA COLUMBIA EXCELSIOR, which translates to “New York, America, Ever Higher.” Excelsior remains the state motto to this day
The coins entered pop culture in the 1940s after novelist Raymond Chandler based one of his popular Philip Marlowe mysteries on the fictional theft of a Brasher doubloon in 1942. Chandler’s novel, The High Window, inspired a major motion picture called The Brasher Doubloon by 20th Century Fox in 1946.
I had the honor of owning the MS63 for 4 years and I take pride in knowing our firm will be forever etched into its provenance. I wrote a book on the seven known coins with the help of HA and my colleague Karl Newman. The Brasher doubloon is truly one of the greatest numismatic rarities in the world and its value confirms it. The new owner who purchased the record setting coin is now listed among a long list of distinguished individuals who have stamped their name on these amazing treasures.
I have traded in the high end of the numismatic market for over 3 decades. I have never been more bullish on value trends than I am at this point in time. Truly BIG money has been seeking to own high end collectibles at a feverish pace and I believe the massive amount of new global wealth is seeking areas to store wealth. Coins offer more than any other collectible, not just value, but centuries of growth and history. They offer a private storage of portable wealth.
In addition to the $9.4 million record-setting coin, the buyer also acquired the 1786 Lima Brasher Doubloon for $2.2 million. Amazingly, these two coins are the first two coins EVER acquired by the winning bidder. Further evidence that BIG money is seeking sanctuary in diversified assets.
I encourage you learn more about the “Top End” of the Market. If you would like to read about these fascinating Brasher Doubloons, then I will send you a FREE copy of the book I authored in 2016 chronicling all seven specimens and their distinguished owners.
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