The 1787 DBLN New York-Style Brasher Doubloon is widely regarded as one of the most famous and valuable coins in numismatic history. Revered for its rarity, craftsmanship, and historical significance, this coin embodies the rich legacy of pre-federal American coinage.
In 2021, an example of this extraordinary piece was sold for an astonishing $9,360,000, setting a new record for one of the highest prices ever achieved at auction for a single coin.
A Brief History of the 1787 DBLN New York-Style Brasher Doubloon
Origins and Creator
The Brasher Doubloon was the work of Ephraim Brasher, a New York goldsmith and silversmith who played a significant role in early American coinage. Produced in 1787, these coins represent a crucial period in American history before the establishment of a federal mint.
Purpose
The doubloon was privately minted with the intent of being used in circulation, combining the utility of currency with the intrinsic value of gold. This unique blend of practicality and craftsmanship set the Brasher Doubloon apart from other colonial-era coins.
Design
- Obverse:
Features an eagle holding an olive branch and arrows, symbolizing peace and strength. The eagle is accompanied by the inscription “E PLURIBUS UNUM,” a hallmark of early American coinage. - Reverse:
Depicts a sun rising over a mountain, with the motto “NOVA EBORACA” (Latin for New York) and “EXCELSIOR,” meaning “ever upward,” reflecting the spirit of the state of New York. - Purity and Weight:
These coins were meticulously produced with high standards of gold purity and weight, making them not only beautiful but also reliable as a form of currency.
Importance in Numismatic History
The Brasher Doubloon holds a special place in the numismatic world for several reasons:
- Historical Significance:
As one of the earliest privately minted gold coins, it serves as a testament to the ingenuity and resourcefulness of early Americans before the federal minting system was established. - Rarity:
Only a handful of Brasher Doubloons are known to exist today, making them among the most coveted items in the numismatic community. - Quality and Design:
The coin’s exquisite design and meticulous production standards set a benchmark for pre-federal coinage. - Provenance and Auction Records:
The Brasher Doubloon has consistently set auction records, underscoring its immense value and desirability among collectors.
Ownership and Auction Milestones
Early Ownership
The coin first came to prominence when it was acquired by Matthew Stickney, a pioneering numismatist, in 1848. Stickney’s purchase marked the beginning of the coin’s storied legacy in private collections.
Auction Highlights
- Garret Collection (1979):
The coin sold for $725,000, setting a record for its time. - 2021 Auction:
Offered by Heritage Auctions, the doubloon realized an incredible $9,360,000, making it one of the most expensive coins ever sold.
Unique Features of the Brasher Doubloon
- New York Style:
The “New York-style” design is a hallmark of Brasher’s craftsmanship, featuring distinctive motifs that highlight the coin’s origin and purpose. - Finest-Known Example:
The 2021 auctioned piece, graded MS65 by PCGS, is considered the finest-known example of this coin, adding to its desirability and record-breaking value. - Record-Breaking Provenance:
This coin has only been offered publicly twice since its discovery, with each sale setting a new world record. - Circulatory Intent:
Unlike many collectible coins, the Brasher Doubloon was intended for use in everyday commerce, adding to its historical significance.
Also See: U.S. Coin Sold by an Impressive $96,000 – Rarest coin in History
Why Is the Brasher Doubloon So Valuable?
- Scarcity:
With only a handful in existence, each Brasher Doubloon is a unique and irreplaceable artifact. - Historical Context:
As one of the earliest gold coins in American history, it represents a pivotal era in the nation’s development. - Craftsmanship:
The coin’s design, purity, and weight are a testament to Brasher’s skill and innovation. - Provenance:
Its well-documented history and ownership by prominent collectors enhance its allure.
FAQs
1. What makes the 1787 Brasher Doubloon so rare?
Its rarity is due to its limited production, historical significance, and the fact that only a small number of these coins survive today.
2. Who was Ephraim Brasher?
Brasher was a New York goldsmith and silversmith who created the Brasher Doubloon as one of the earliest privately minted gold coins in the United States.
3. What is the significance of the New York-style design?
The design reflects the coin’s origins in New York and showcases motifs that symbolize the state’s spirit and values, such as the sun rising over mountains and the motto “EXCELSIOR.”
4. Why did the Brasher Doubloon sell for $9.36 million?
The coin’s incredible price reflects its rarity, historical importance, high grade (MS65), and provenance, as well as the intense demand among collectors.
5. How many Brasher Doubloons exist today?
Only a handful of Brasher Doubloons are known to exist, with fewer still in such exceptional condition as the one sold in 2021.
