Monday, December 12, 2011
Rare 1787 gold coin fetches $7.4M
NEW ORLEANS (AP) — An exceedingly rare 1787 gold Brasher doubloon has been sold for $7.4 million, one of the highest prices ever paid for a gold coin.
Blanchard and Co., the New Orleans-based coin and precious metals company that brokered the deal, said the doubloon was purchased by a Wall Street investment firm. Identities of the buyer and seller were not disclosed.
Minted by Ephraim Brasher, a goldsmith and neighbor of George Washington, the coin contains 26.66 grams of gold — slightly less than an ounce. Worth about $15 when it was minted, the gold value today would be more than $1,500.
The Brasher doubloon is considered the first American-made gold coin denominated in dollars; the U.S. Mint in Philadelphia didn't begin striking coins until the 1790s.
at 6:15 AM