Brash Purchase

ArtAndAntiques.net
by Robert Nesmith
May, 2005

FORT LAUDERDALE, FLA.—A group of investors paid almost $3 million in January for a 1787 gold Brasher Doubloon, believed to be the only one of its kind.   Named for gold and silversmith Ephraim Brasher, the doubloons are the first gold coin minted in the United States.   This particular example (DIRECTIONAL) has the initials "E.B." stamped on the breast of the eagle on the coin’s face: Similar coins have the stamp on the Eagle’s wing.

The $2.99 million hammer price is the third-highest paid for a rare coin at public auction, which took place at the Florida United Numismatists organization’s annual convention in January.   "The market for rare coins has been strengthening for the past couple years," says Mark Borckardt with Dallas-based Heritage Galleries, which sold the coin.

"This sale confirms that the market remains strong today and suggests the market should show strength for quite some time." 

This one-of-a-kind coin will be on display at the New York Invitational Coin Show (June 30–July 1) and at the American Numismatic Association’s World’s Fair of Money convention in San Francisco (July 27 to July 30).

For more information, visit www.money.org.