Rare 1787 gold coin fetches $7.4M

In a photo provided by Blanchard and Company, Inc., a rare 1787 gold Brasher doubloon, which sold for $7.4 million, .  (AP Photo/Chris Baudot, Blanchard and Company, Inc.,)

In a photo provided by Blanchard and Company, Inc., a rare 1787 gold Brasher doubloon, which sold for $7.4 million, . (AP Photo/Chris Baudot, Blanchard and Company, Inc.,)

NEW ORLEANS (AP) — An exceedingly rare 1787 gold Brasher doubloon has been sold for $7.4 million, one of the highest prices ever paid for a gold coin.

Blanchard and Co., the New Orleans-based coin and precious metals company that brokered the deal, said the doubloon was purchased by a Wall Street investment firm. Identities of the buyer and seller were not disclosed.

Minted by Ephraim Brasher, a goldsmith and neighbor of George Washington, the coin contains 26.66 grams of gold — slightly less than an ounce. Worth about $15 when it was minted, the gold value today would be more than $1,500.

The Brasher doubloon is considered the first American-made gold coin denominated in dollars; the U.S. Mint in Philadelphia didn't begin striking coins until the 1790s.

Associated Press
Copyright 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


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