AP Exclusive: Rare 1787 gold coin fetches $7.4M

A rare 1787 gold Brasher doubloon was recently sold for $7.4 million, which is one of the highest amounts ever paid for a single gold coin. This shows that the market for extremely rare coins is still alive and well.

By MARY FOSTER
December 12, 2011
Yahoo! News

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.

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