gold coin

The World of Rare Coins: The Dollar With the Hole In It

Filed under: Auctions

You've probably never seen a U.S. coin like this before. The U.S. Mint began experimenting with different gold dollar patterns in 1852. The problem was simple, gold dollars were small and easily lost. And so the Mint tried out creating pattern gold dollars in 1852, producing the patterns now known as Judd-136 to Judd-148 which have a larger, more convenient diameter.

Instead a more practical solution eventually was decided on. The amount of silver was reduced in most subsidiary coinage in 1853, which returned the silver denominations to the channels of commerce rather than going to the melting pot. And the gold dollar diameter was eventually increased in 1854 when the design was changed to the Type Two format.

Heritage Auction's 2011 March Sacramento Signature ANA US Coin Auction features an 1852 annular (ring-shaped) gold dollar, with a wide center hole and the date, denomination, and country name along the outside. The lower half of the reverse shows a wreath. This pattern, known as Judd-145, is struck in gold with a plain edge. Heritage sold a similar coin to this one in 2008 for over $27,000.

Tags: annular coins, coin collecting, gold coin, gold dollars

New Gold Coin Features The Taj Mahal

by Deidre Woollard (RSS feed) —

Cashing in on the gold bug trend, the Franklin Mint is selling the new one-ounce Taj Mahal Gold Coin. The coin was minted and designed by the Monnaie de Paris and there is also a large 2.2 pound version that is the first and only French coin comprised of pure solid gold and 68 hand-set Cartier diamonds. The Wall Street Journal has a picture of that coin during its unveiling at the Franklin Mint's New York office. The coin has a face value of 5,000 euros but sells for 100,000 euros and comes in a leather Goyard carrying case with a loupe.

The one-ounce Taj Mahal Gold Coin is minted in .999 pure gold and measures 37mm in diameter. The obverse features a beautiful sculpted image of The Taj Mahal with the initials "RF" standing for the Republic of France. The reverse shows the coin as legal tender with a face value of 200 Euros and the UNESCO logo. There is a mintage of 1,000 coins for the one-ounce gold coins. The Franklin Mint is selling it for $3,299, a price that reflects the growing market for all things gold.

Tags: franklin mint, gold coin, taj mahal coin

Money Show Features Very Rare Gold Coin

by Deidre Woollard (RSS feed) —

Filed under: Events

World's Fair of Money, it has a lovely ring to it doesn't it? The annual show draws more than 1,000 of the nation's best coin dealers together to exhibit coins, paper money, medals, tokens and other numismatic items. The event takes place in Boston August 10 - 14, 2010 at the Hynes Convention Center.

The show is sponsored by the nonprofit American Numismatic Association and will also feature museum-quality exhibits from the Smithsonian Institution, the ANA Edward C. Rochette Money Museum and private collectors. One display will be
one of the three known proof 1804 Eagles made on behalf of President Andrew Jackson and a rare 1804 Eagle silver pattern which have been acquired by Legend Numismatics of Lincroft, New Jersey and sold to a Texas collector. Both coins will be publicly displayed together for the first time ever at the event.

"The 1804 proof gold Eagle is a classic American rarity and the silver pattern is an amazing companion to it. Both coins are now part of the incredible collection being assembled by Bob R. Simpson of Texas, a connoisseur of numismatic quality and rarity and a long-time client and friend," said Laura Sperber of Legend Numismatics (www.LegendCoin.com). The coins will be displayed at the Numismatic Guaranty Corporation booth (#704) at the show in the Hynes Convention Center.

The gold 1804 $10, graded NGC PF65 Ultra Cameo, was obtained by Legend from a private collector with the assistance of John Albanese of Certified Acceptance Corporation (CAC). The silver 1804 $10 (Judd-34), graded NGC PF64, was purchased from Steven L. Contursi, President of Rare Coin Wholesalers in Irvine, California. The purchase and sale prices were not disclosed for these transactions but the 1804 gold proof Eagle made headlines in 2007 when it sold for $5 million. It had sold for $1 million in 2003 and then for $2.47 million in 2005 so we can only assume another leap up in price. The Eagle coin is stamped 1804 but was created in 1834 at the Philadelphia Mint for Andrew Jackson as a diplomatic gift.

Tags: coins, gold coin, gold coins, numismatics, worlds fair of money

New Gold Coin Features Palm Jumeirah

by Deidre Woollard (RSS feed) —

Capitalizing on the renewed interest in and high price of gold the Dubai Multi Commodities Center (DMCC) and the World Gold Council have launched the latest in the Visions of Dubai gold coin series. The new coin features the image of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, on the front and The Palm Jumeirah, one of Dubai's iconic landmarks, on the reverse.

The coin is made of 24-karat (999.9) gold and supported by the World Gold Council. The VoD coins are produced by Emirates Gold Refinery DMCC and the collectibles have been especially designed to represent Dubai to the world, sending the message that the emirate is an important hub for gold in the Middle East region. The coins come in four sizes: 1oz (34 g), ½ oz (17 g), ¼ oz (8.5 g) and 1/10 oz (3.4 g) and are sold through Dubai Duty Free and gold retailers including Siroya Jewellers LLC, Joy Alukkas Group, Mahallati Jewellery and Popley Jewellers. The coins are also being promoted by DMCC through an extensive range of creative marketing activities and promotions.

Tags: dubai, dubai multi commodities center, gold coin, world gold council

World's Largest Gold Coin Heads For Auction

by Deidre Woollard (RSS feed) —

Filed under: Auctions

Just as the prices of gold hit record highs, a Vienna auction house is auctioning off the world's largest gold coin, a 2007 Canadian $ 1,000.000 Maple Leaf. Dorotheum will auction off the coin on June 25. It weighs around 220 pounds and is made from the purest 999.99/1000 gold. The coin is listed at the world's largest coin in the Guinness Book of Records and bears a large picture of Queen Elizabeth II. The back has three maple leaves. The face value is way below the current value of the coin based on weight and the starting price will be based on the daily gold rate. The picture above is from a an exhibition of the coin in September 2009 in Prague. It was most recently on loan to the 'Münzkabinett' of the Kunsthistorisches Museum in Vienna, which houses one of the largest numismatic collections in the world.

[via Art Fix Daily]

Tags: gold coin, worlds largest gold coin

Gold Coin Sells For $5 Million

by Deidre Woollard (RSS feed) —

Filed under: Auctions

The news last week of a $10 gold coin that sold for $5 million is particularly interesting because the date on the coin is not the date it was minted. The Eagle coin is stamped 1804 but was created in 1834 at the Philadelphia Mint for Andrew Jackson as a diplomatic gift. This coin has some pretty fast appreciation, it sold for $1 million in 2003 and then for $2.47 million in 2005. There are just four of them out in the world.

I wonder what is it about coins that makes the prices rise. In part it is because they are a tangible record of history but I suspect the real reason is something else. As David Albanese, the president of Albanese Rare Coins, the dealer of the coin, reported both the buyer and seller are "northeastern United States entrepreneurs who have been collecting coins since they were young boys." I think this is why some coins sell for such high prices. Many other collecting hobbies take root after one is established in the world, wine, art, jewelry and watches, the love of those often develop later in life. But so many young boys and girls are given coins as gifts, thereby establishing a lifelong love of numismatics.

[Thanks, Lana]

[Thanks, lana]

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Tags: coin collecting, coins, collecting, collectors, gold, gold coin, GoldCoin, numismatics

World's Largest Coin Up For Auction

by Deidre Woollard (RSS feed) —

Filed under: Auctions

What would you do with an over-220 pound gold coin the size of a pizza? I have no idea, but if you've got a hankering to put your money in gold, now is your chance. Teletrade is holding an online auction of the world's largest gold coin, recently produced by the Royal Canadian Mint. The coin contains more than $2 million of gold bullion and features maple leaves on one side and Queen Elizabeth II on the other. It is one of three purchased by Teletrade's sister company, A-Mark Precious Metals, Inc. The coin is the first of the 100-kilo Canadian coins available to the public and will be auctioned off on August 16, but bidding has already started.

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Tags: auction, gold, gold coin, royal canadian mint, teletrade