Notes, Thoughts, and Ideas.

The 1787 Brasher Doubloon

One of the rarest coins in the world was made when a goldsmith and silversmith was denied a petition to mint his own coins.

A man named Ephraim Brasher wanted to mint his own copper coins, but ran into a roadblock: the State of New York did not want to mint copper coinage.

But Brasher already had skills applicable to creating his own coins, so he set out to making his own. At the time he was already well known for his skills and his hallmark (his initials ‘EB’), which was stamped on his own coins and any coins that he proofed. Brasher had already established his name, to the point that he was nationally recognized.

So, against the wishes of New York, Brasher made his own coins. Perhaps his high status in the numismatic industry made him a little too confident.

So why are Brasher doubloons the rarest in the world? Few were made, and very few survived, and the rarest of the doubloons are the few that were made in 22-carat gold. The coins made in copper were more common, so they don’t sell for as much.

What do these rare coins sell for? In 2005, Heritage Auction sold all three varieties of the doubloons, where the most valuable, the New York Style EB Punch on Wing, sold for $2,990,000. That wasn’t the highest price paid for a Brasher Doubloon, however. A Wall Street investment firm bought a Brasher Doubloon for the whopping price of almost $7.4 million. Now that’s a valuable coin!

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Basic HTML is allowed. Your email address will not be published.

Subscribe to this comment feed via RSS

%d bloggers like this: