Investors Make a Beeline for Gold Coins at Auctions
June 17, 2010 - Collectors are keener than ever to add to their collection of rare gold coins, as evidenced by the action at the Long Beach Signature U.S. Coin Auction. There was a big demand for gold coins at a sale of American currency recently in California. Heritage Auctions, the largest collectibles auctioneer in the world, reported that gold coins were the “hottest” selling items at the event. More than 4,250 bidders were present and $9.88 million was raised. A $10 coin dating back to 1796 fetched the highest price of $57,500. Another gold coin, a $2.5 Clark Gruber and Co. quarter eagle dating back to 1859, featuring the profile of Lady Liberty on one side and an eagle on the other, sold for $51,570.
At another auction, a $3 dated 1859 and supposedly the first proof coin sold publicly, was auctioned at $49,450. An 1883 $10 gold coin sold for $48,888. At the Christie’s New York Jewels sale on June 15, two lots with gold coins were the highest selling items. A collection of 100 Austrian gold coins dating 1915, which were valued at between $70,000 and $100,000, brought in an amazing $224,500.
James Cockington, writing for the Sydney Morning Herald, reported that there were discs from the Greek, Roman and Byzantine periods on offer at a Sydney auction at the beginning of this year. A gold aureus from the Roman mint in 193 AD was valued at $30,000. Greek and Roman gold coins are the most popular. Cockington also wrote that oriental coinage, which has its origins at the same time or earlier, is also drawing a lot of interest from the West, opening up a whole new market for these exotic coins.
Stewart Lawson
Senior Staff Writer - Gold-Coin.com
