Gold Coins: Gold Brasher Doubloon sells for $7.4m

Gold Investment - 19 December 2011

An undisclosed Wall Street investment firm has recently purchased a rare 1787 gold Brasher doubloon coin for $7.4m ($7.395m to be exact). This is the second highest monetary value placed on a gold coin so far this century, which is astonishing and outstanding to say the least, but there is more to it than meets the eye.

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As noted above, the rare 1787 gold Brasher doubloon coin was sold for $7.4m, which is the second highest monetary value placed on a gold coin so far this century, considering that a rare 1933 $20 Double Eagle was sold for $7.5m in 2002. This is astonishing and outstanding, but what is even more exceptional, is the fact that the gold Brasher doubloon coin that was worth more or less $15 in terms of its gold melt value when it was minted in 1787, is now worth more or less $1500 in terms of its melt value. This represents a 9900% increase in its melt value or an average annual increase of more or less 44% since 1787. If it was not for the rampant paper manipulation of the current gold price, the coin which contains 26.66 grams of gold, just short of an ounce, would be valued closer to $10 000 in terms of its melt value (which represents a 66500% plus increase or an average annual increase of more or less 300% since 1787). Leaving the collector’s value (numismatic value) aside, if this is not an example of the excellent value for money gold offers, especially at the current paper-manipulated price levels, then what will convince those who still choose to shun or largely ignore gold (not even to mention silver)?

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Given the above, the seller of the relevant 1787 gold Brasher doubloon coin, Blanchard and Company, Inc., must be extremely happy about the sale. Needless to say, although we haven’t received a penny from the sale of the coin, we’re extremely happy about the sale, because it will most definitely help to encourage more people to acquire or buy gold (physical gold). Thus, at the end of the day, all owners/holders of gold should benefit from the sale of the 1787 gold Brasher doubloon coin as mentioned. If you don’t own/hold any physical gold yet, it might be the perfect opportunity to start.