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Tuesday, 20th July 2010 (1012 views)

A particularly rare US gold coin is expected to fetch in excess of $400,000 (£261,643) when it is offered to bidders next month.

The 1855 Kellogg & Co $50 gold coin is only the 14th example of such a coin known to exist and will be put up for sale at the Boston Signature Coin Auction by Heritage Auction Galleries between August 8th and 15th.

Greg Rohan, president of Heritage Auction Galleries, explained that experts conducted extensive research confirming the piece is not one of the 13 examples previously identified.

"These coins were struck in proof format, likely for presentation purposes, and examples made for circulation are unknown," he commented.

"This enigmatic but undoubtedly important lot is a remarkable opportunity for the dedicated Territorial gold collector."

Other gold rarities to be offered at the same auction include a 1931 Double Eagle that could sell for more than $250,000 and a 1907 wire rim Saint-Gaudens $10 coin expected to fetch $175,000.

The sale will take place at the American Numismatic Association's World's Fair of Money, which will also feature the Ship of Gold exhibition of gold rarities recovered from the 1857 SS Central America shipwreck.

 

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