Brasher doubloon's new co-owner fulfills dream

Adam Crum has wanted one since high school in 1979
By , Coin World
Published : 01/17/14
Text Size

Monaco Rare Coins’ Adam Crum says he has dreamed about what it would feel like to own a 1787 Brasher doubloon ever since reading about an example in 1979 while he was a high school student.

Now he knows.

Crum and business partner Michael Carabini purchased the same coin Crum had read about in 1979 for $4,582,500 as the first lot in Heritage Auctions’ Platinum Night session Jan. 9. The auction was held in conjunction with the Florida United Numismatists Convention in Orlando.

The price realized includes the 17.5 percent buyer’s fee added to the final $3.9 million closing hammer price.

While admitting “every coin has its price,” Crum said Jan. 14 that he and Carabini have no immediate plans to resell the coin.

“We’re very happy with our purchase,” Crum said. “I’m very biased toward gold. It’s the finest known of its type by a mile and the first American gold coin. It’s definitely a trophy coin that exceeds and transcends our hobby.

“It ranks up with the most valuable coins in existence.”

The Brasher doubloon Crum purchased last appeared at public auction in Rare Coin Company of America’s July 27, 1979, segment of Auction ’79, where it was purchased by Chicago numismatist Walter Perschke for $430,000. That price included a 10 percent buyer’s fee.

Perschke has owned the coin since the 1979 sale.

The coin’s grade was described as “Almost Uncirculated” in the 1979 auction. Numismatic Guaranty Corp. certified the Brasher doubloon as Mint State 63 in June 2012 and the coin subsequently was stickered by Certified Acceptance Corp.

You are signed in as:null

Please sign in or join to share your thoughts on this story

No comments yet