The world’s finest Brasher Doubloon, the most legendary U.S gold coin ever produced, has sold for $9.36 million at Heritage this month.
The 18th century coin is described as “arguably the world’s most famous numismatic rarity”, and is one of only seven examples known to exist.
The sale set a new world record price for a gold coin sold at auction.
The example sold was graded MS65 NGC, making it the highest-graded example of the seven, and had only previously been sold publicly twice in its 234-year history.
Prior to its sale, the card had spent more than 40 years in the renowned collection of Donald G. Partrick.
The previous record price for a Brasher Doubloon was set back in 2011, when an example sold privately to an undisclosed Wall Street investment firm for $7.4 million.
The Brasher Doubloon dates from 1787, and was the first gold coin ever produced in the United States, following the young nation’s Declaration of Independence in 1776.
The coin evenpredates the foundation of the U.S Mint, which didn’t beginproducing official coinage until 1792.
The goldendoubloon is named after the man who struck it, New York silversmithEphraim Brasher, who was a friend and neighbour of America’s firstPresident George Washington.
Brasher’sdesign for the coins features the motto “NOVA EBORACA COLUMBIAEXCELSIOR”, which translates to “New York, America, EverHigher”, along with the image of an eagle clutching an olivebranch surrounded by 13 stars, representing the original 13 coloniesof the United States.
In addition, eachof the coins featured Brasher’s initials “EB” punchedinto the gold – trademark which he also used on his silverware, andother gold coins he was asked to assay.
Six of the sevencoins feature the initials punched into the wing of the eagle,whereas the record-breaking coin sold in 2011 had them in the centreof the bird’s breast.
The coin wasfirst discovered by collectors in the 1840s, and its legend – alongwith its value – has continued to grow for more than 170 years.
In 1942 thefamous coin even crossed over into popular culture, as the subject ofthe Raymond Chandler novel The High Window.
The story, which sees Chandler’s iconic detective Phillip Marlowe investigate the theft of the coin from a wealthy widow, was also later adapted into the 1945 film noir thriller The Brasher Doubloon, starring George Montgomery.
Brasher’sreasons for producing the coins remain shrouded in mystery to thisday.
Some expertsbelieve they were made as bribes for New York State legislators, sothey would award Brasher the contract to produce copper coinage forthe city.
Others think theywere made to be sold as souvenirs to people visiting GeorgeWashington, who lived next door to Brasher on Cherry Street andregularly entertained important guests from across the country.
The mostplausible theory states that Brasher made the coins to be used as ameans of transaction between merchants and banks, at a time whensimilar gold doubloons from the Spanish Mints in Mexico and Peru werewidely traded.
Whatever the reason for its creation, the Brasher Doubloon remains one of the world’s most famous numismatic treasures, and recent sale was yet another chapter in its illustrious legacy.
