1787 Gold Brasher Doubloon, “Holy Grail” of Gold Coins, Sells for $7.4M

An exceedingly rare 1787 gold Brasher doubloon has been sold for $7.395 million, one of the highest prices ever paid for a gold coin.

Blanchard and Company, Inc., America’s leading numismatic (study of coins) and precious metals firm, said the doubloon was purchased by a Wall Street investment firm. Identities of the buyer and seller were not disclosed.

“Not only is this the highest-valued gold coin in the world, but it is also one of the most iconic pieces in all of numismatics,” explained John Albanese, widely considered to be one of America’s leading numismatists.

Minted in 1787 by Ephraim Brasher, a sliversmith, goldsmith and neighbor of George Washington, the rare coin contains 26.66 grams of gold and was worth about $15 when it was minted. Coinweek.com estimates that the gold value of the doubloon today would be a little more than $1,500.

So why is it so significant?

According to experts in the field, the Brasher Punch-on-Breast Doubloon is the first American-made gold coin that had a denomination in dollars and that was struck to the same standard that was later adopted for all U.S. gold coins, making it what is today considered the first truly American gold coin.

No other U.S. Colonial or Federal coin can make that claim, putting Brasher’s first New York-style Doubloon in a class by itself.

“It is not a stretch to call this the holy grail of all collectible gold coins,” said Albanese.

For more information on the 1787 gold Brasher doubloon, check out the following clip:

via Coinweek
Image: TheAustralian