Gold Brasher doubloon to star at FUN auction

Finest known specimen off market since 1979
By , Coin World
Published : 11/18/13
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The finest known of seven examples of 1787 Brasher doubloon, off the market for more than 30 years, will cross the auction block Jan. 8 in Orlando, Fla.

The Brasher doubloon owned by Chicago numismatist Walter Perschke since 1979 will be offered without reserve by Heritage Auctions during its Platinum Night session. The auction is being held in conjunction with the Florida United Numismatists Convention at the Orange County Convention Center.

Perschke’s Brasher doubloon was certified in June 2012 by Numismatic Guaranty Corp. as Mint State 63 and recently stickered by Certified Acceptance Corp.

At the time of the NGC certification, the doubloon was announced as a “$10 Million Coin.”

“We expect it will bring $5 million or more and set a new record as the most valuable early American gold coin — and third most valuable of any U.S. coin — ever sold at auction,” said Jim Halperin, co-chairman of Heritage Auctions.

The most recent Brasher doubloon to trade hands is the unique 1787 Brasher, Punch on Breast doubloon, which was sold by Blanchard and Co. on Nov. 29, 2011, in a private transaction to an anonymous buyer for a reported $7,395,000.

The unique variety, graded About Uncirculated 50 by Professional Coin Grading Service, garnered the then third-highest price ever paid for an American coin.

Perschke’s coin and five others exhibit the New York silversmith and gold Smith Ephraim Brasher’s EB punch on the eagle’s right wing (viewer’s left).

Perschke acquired the Newlin-Davis coin for the then record price of $430,000 during Rare Coin Company of America Inc.’s July 27, 1979, segment of Auction ’79. The price realized included a 10 percent buyer’s fee added to the final closing hammer price.

Perschke’s acquisition of the coin created quite a stir in the marketplace.

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