First U.S.-minted gold coin is back on the market and it could go for $15 million by Anna Golubova
for Kitco News | Wednesday June 03, 2020 15:23
The first gold coin minted
in the U.S. — the Brasher Doubloon — is back on the market
in a private sale with the asking price of $15 million.
The sale is being conducted by PCAG Inc.,
Bloomberg quoted the firm’s founder numismatic adviser Jeff
Sherid as saying.
All that is known about the current owner
of this rare coin is that the collector is a former Wall
Street executive who acquired the coin in 2015 in a private
transaction for an undisclosed price, Bloomberg reported.
Records show that this particular coin was
sold for $625,000 in 1981, then nearly for $3 million in
2005, and for $7.4 million in 2011.
The Brasher Doubloon coin dates back to
1787 and is from pre-mint era — five years before the federal
mint was opened in Philadelphia.
George Washington’s next-door neighbor metalsmith
Ephraim Brasher minted this particular coin on New York’s
Cherry Street. The coin was privately minted as part of
a smaller batch that all have the hallmark “EB” engraved
into them.
It is said that George Washington handled
the coin, according to Certified Acceptance Corp. founder
and numismatist John Albanese.
“If you talk to coin nerds and old-time
experts, I’m guessing they’d all say the Brasher Doubloon
is the greatest coin ever because of the history,” Albanese
told Bloomberg.
On one side of the coin there is an image
of the eagle and on the other side shows a sunrise over
mountains and water.
The Brasher Doubloon, the first gold coin
struck in the U.S. and one of the most coveted by collectors,
is being offered in a private sale for $15 million https://t.co/BrYRkH7P5D
— Businessweek (@BW) June 2, 2020
There is a mystery surrounding this coin. Some believe it
was minted for eventual circulation while others believe
it was made as a souvenir. There are seven coins like this
one that currently exist. All except this one have “EB”
engraved in the eagle’s wing instead of right in the middle.
One of the existing coins is part of the
Smithsonian collection and can be found online here.
The Brasher Doubloon coin will only grow
in value from here, added Albanese, who sees it as the first
coin to reach $100 million price tag.