The ‘Holy Grail’ of Rare Gold Coins is an extremely rare gold ‘Brasher Doubloon’ of 1787 make and has been sold in 2001 for $7.4 million in New Orleans. Blanchard and Co brokered this huge deal. The Associated Press was informed by the company that a ‘Wall Street Investment’ firm bought the rare gold coin, keeping the identity of the seller and the buyer under undisclosed.
This precious piece of gold was minted by a goldsmith named Ephraim Brasher, who was George Washington’s neighbor. This gold coin weights a little less than an ounce with its gold content weighing 26.66 grams. It was worth $15 at the time it was minted and, at present, its gold value is a little over $1,500. The ‘Brasher Doubloon’ is named so because its weight is approximately the same as that of a ‘Spanish Gold Doubloon’ which was one of colonial America’s common coins.
This is the only known piece of the doubloon that has a hallmark punch placed on the eagle’s breast. There are five other doubloons that are known at present and they have a hallmark seal on the left wing of the eagle.
Brasher is believed to have made the doubloons along with a number of other coins for the purpose of circulation. There was no standard currency in the nation at that time and this might be why the doubloons were made.The ‘Brasher Doubloon’ is believed to be the premier gold coin made in America which was denominated in dollars.
Not much has changed between the scenario then and now. Gold coins were considered as a sound investment in earlier days and this is the case even today. However, before you venture out to invest in the rare gold coin market, it is good to understand the rarity and value of such coins.
Things to Keep in Mind While Investing in Rare Gold Coins
One of the most important things that you need to follow is to collect only the best-grade coins. Some things to bear in mind while investing in rare gold coins are:
- Be aware: Gather knowledge about the prices and trends in the market for gold coins. Also get to know the factors that should be taken into consideration while grading ‘rare gold coins’. Talk to experts, as they will be able to guide you around the current market scenario.
- Collect information: Read literature such as coin magazines and journals to know anything and everything there is to know about rare gold coins. You can surf the internet to know about the history of rare gold coins, how they are graded and also determining the value of such coins.
- Become an expert: Select a particular type of rare gold coin, such as the ‘Liberty Head Eagle’ or the ‘St. Gaudens Double Eagle’. This will limit your area of study and make you an expert in the chosen field in a shorter period of time.
- Decide the price: Always decide beforehand the highest price you are willing to pay for a particular type of gold coin.
- Hold the investment: When you decide to purchase rare gold coins make sure that you can hold them for some time, so that you give the coins time to appreciate in value. You can then sell the gold coins when their value has risen considerably.
Most people are comfortable dealing with companies that have expertise and experience trading in gold coins. Such companies would have knowledge about grading and rarity and would be able to guide you into making the right decision. When purchasing rarities one needs to be sure that the right choice has been made, especially when buying rare gold coins.