Belfast Telegraph

Thursday 18 December 2014

Rare gold coin sells for £4.8m

The 1787 gold Brasher doubloon, which sold for 7.4 million dollars at auction in the US (AP)
The 1787 gold Brasher doubloon, which sold for 7.4 million dollars at auction in the US (AP)

A rare 1787 gold Brasher doubloon has been sold for 7.4 million dollars (£4.8 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 neighbour of George Washington, the coin contains 26.66g of gold - slightly less than an ounce. Worth about 15 dollars (£10) when it was minted, the gold value today would be more than 1,500 dollars (£965).

The Brasher doubloon is considered the first American-made gold coin denominated in dollars; the US Mint in Philadelphia did not begin striking coins until the 1790s.

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