A set of four rare gold coins from Czechoslovakia, issued in 1938, topped all bidding during Gorny & Mosch’s auction Nos. 219 to 221 held March 10 to 12, 2014.
The set of a ducat, double ducat, 5-ducat coin and 10-ducat coin realized a hammer price of €282,000 (about $390,956 U.S.).
Though they are known as rarities, the estimate was only €15,000 (about $20,796 U.S.).
Results shared here are hammer prices and do not include the buyer’s fee or value-added tax.
All four coins have mintages below 200 pieces: only 186 pieces were produced of the ducat, just 56 of the double ducat, 192 of the 5-ducat piece and 16 of the 10-ducat piece.
All are listed in the 2013 edition of the Standard Catalog of World Coins by Chester Krause and Clifford Mishler (edited by George Cuhaj, with values by Tom Michael).
The Standard Catalog listed values for Uncirculated examples at $16,500 for the ducat, $8,000 for the double ducat, $20,000 for the 5-ducat piece and $45,000 for the 10-ducat coin (totalling $89,500 for an example of all four).
A representative of the firm said: “It staggers the imagination to consider what such a set might have obtained if it had consisted of Russian or Chinese coins. Modern coins from Czechoslovakia rising to such a price range clearly indicate how intense the interest in numismatics has become in this country of the former Eastern bloc.”
The market for rare gold of Czechoslovakia converged in Germany, as another 1938 gold 5-ducat coin led bidding in Fritz Rudolph Künker’s auction No. 245 the same week. That auction offered an example in “About Mint State” that realized a hammer price of €110,000 (about $152,623 U.S.).
The set was one of thousands of offerings over three days.