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Wednesday, 28th July 2010 (663 views)

The recent sale of a rare gold coin may have attracted a price of anywhere up to $7.5 million (£4.8 million), according to Greg Reynolds of CoinLink.

In his weekly column, he writes that the exact price is not known - and could be in the range from $2.5 million to three times that amount.

The Proof 1804 Eagle, with a face value of $10, was sold by Laura Sperber to pattern collector Bob Simpson.

Prior to this it has changed hands on a number of occasions; in 2007 a New York gold coin dealer sold it for around $5 million.

Just two years before that, the same dealer had sold it for $2.3 million, while a collector claims to have been offered the chance to buy it for less than $600,000 in 2001.

At the upper end of the estimate for the latest transaction, that would represent a 1,200 per cent scaling up in value over the course of the decade.

The 1804 Eagle is something of a curiosity in that, despite the date it bears, it was actually struck in 1834 for use as a diplomatic gift.

 

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