{"id":1558,"date":"2011-12-13T18:11:55","date_gmt":"2011-12-13T18:11:55","guid":{"rendered":"http:\/\/www.itmtrading.com\/blog\/?p=1558"},"modified":"2012-03-27T00:03:44","modified_gmt":"2012-03-27T00:03:44","slug":"massive-profit-made-on-one-gold-coin","status":"publish","type":"post","link":"https:\/\/www.itmtrading.com\/blog\/massive-profit-made-on-one-gold-coin\/","title":{"rendered":"Massive Profit made on One Gold Coin"},"content":{"rendered":"<p><a href=\"http:\/\/www.itmtrading.com\/blog\/index.php\/2011\/12\/massive-profit-made-on-one-gold-coin\/doubloon\/\" rel=\"attachment wp-att-1559\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-1559\" title=\"doubloon\" src=\"http:\/\/www.itmtrading.com\/blog\/wp-content\/uploads\/2011\/12\/doubloon.jpeg\" alt=\"\" width=\"211\" height=\"272\" \/><\/a>A very rare coin sold in New Orleans last week for $7.4 million.\u00c2\u00a0 The coin is named the Brasher doubloon after Ephraim Brasher who minted it in 1787.\u00c2\u00a0 The buyer and seller were not disclosed to the public other than the buyer is said to have been a \u00e2\u20ac\u0153Wall Street investment firm,\u00e2\u20ac\u009d according to a representative of the broker.<\/p>\n<p>This gold coin was minted prior to 1795, which was the year the US officially started minting gold coins for circulation in Philadelphia.\u00c2\u00a0 The Brasher doubloon is therefore considered America\u00e2\u20ac\u2122s first gold coin denominated in dollars.\u00c2\u00a0 The gold coin contains 26.66 grams of gold (31.1033 grams equals 1oz) and was worth about $15 when it was created.\u00c2\u00a0 The gold content today would be worth $1,419.<\/p>\n<p>How rare is this gold coin?\u00c2\u00a0 It is the only one of its kind!\u00c2\u00a0 It has a hallmark punch on the eagle\u00e2\u20ac\u2122s breast; all other known examples of the Brasher doubloon have the punch on the eagle\u00e2\u20ac\u2122s left wing.<\/p>\n<p>What is amazing is that the last time this coin changed hands in 2004, it sold for $3 million.\u00c2\u00a0 Therefore the current seller made a profit of somewhere near $4.4 million dollars in seven years!\u00c2\u00a0 Because commissions and fees were not released it is unknown if the selling value breached the previous record of $7.59 million in 2002 for the 1933 $20 Saint Gaudens.<\/p>\n<p>Six weeks before the coin was sold it was sent to John Albanese, a very well respected coin grader and numismatist, and the coin was graded and encapsulated.\u00c2\u00a0 All gold coins are graded on a scale from 1 to 70, 70 being perfect condition.\u00c2\u00a0 The 1787 Brasher doubloon was graded a 50, which is a great example of why rarity, not quality plays the biggest role in the value of a coin.<\/p>\n<p>Because this gold coin was minted prior to official minting of coins it can be considered the \u00e2\u20ac\u0153holy grail\u00e2\u20ac\u009d of <a href=\"http:\/\/www.itmtrading.com\/\">gold coins<\/a> according to Albanese.\u00c2\u00a0 It is one of the most sought after gold coins in the world and there are probably only a handful of collectors in the world who have the interest and ability to acquire such a coin.<\/p>\n<p>This recent sale proves that while gold has been a hot topic over the past 11 years, rare gold coin buying is very strong and is producing record profits for many of its owners.\u00c2\u00a0 To acquire rare gold coins of your own call us, as these types of coins are our specialty.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A very rare coin sold in New Orleans last week for $7.4 million.\u00c2\u00a0 The coin is named the Brasher doubloon after [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1207],"tags":[63,97,104],"class_list":["post-1558","post","type-post","status-publish","format-standard","hentry","category-blog","tag-gold-coins","tag-performance","tag-rare-gold-coins"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/posts\/1558","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/comments?post=1558"}],"version-history":[{"count":1,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/posts\/1558\/revisions"}],"predecessor-version":[{"id":11090,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/posts\/1558\/revisions\/11090"}],"wp:attachment":[{"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/media?parent=1558"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/categories?post=1558"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/tags?post=1558"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}