Bonhams' Sovereign coin auction World Record brings $53,866 sale success
Coins are going strong, as this 1841 Sovereign coin auctions for a new World Record at Bonhams
Paul Fraser Collectibles, Thursday 15 December 2011
The rare collectible coin markets are ending 2011 with a bang.
The latest news is that an 1841 Sovereign coin has auctioned for a new World Record price at Bonhams. It sold at Bonhams' London Medals, Banknotes and Coins sale, yesterday (December 14).
In the end, the 1841 Sovereign coin brought £34,800. This was more than triple its £8,000-10,000 presale estimate.
Described as "virtually uncirculated", the rare coin depicts Queen Victoria in relief. This particular coin is regarded as one of the finest examples of its kind in the world.
This is an early shield, examples of which are particularly rare at auction.
Not surprisingly, the coin inspired enthusiastic bidding in the saleroom and also by telephone. According to Bonhams, the coin eventually sold to a private UK collector.
£34,800 might sound like a lot to pay for a single collectible coin. But how about $7.40m?
That was the price paid for one of the greatest pieces of American numismatic history, earlier this week: a Brasher doubloon coin.
There are just seven known Brasher Doubloons in the world. All are extremely valuable, gracing the famed Norweb collection among other prestigious coin troves.
An example last sold at HA.com in 2005 for $2.99m.
Blanchard and Company Inc auction's $7.395m total means that the average value growth of the Brasher Doubloon coin is 16.3% per annum.
An impressive rise in value. But less surprising if you consider that the index tracking gold coins rose by 300%, between 2000-2010.
Bonhams' World Record priced £34,800 1841 Sovereign coin is only the cherry on the cake - and there will likely be more World Record sales in 2012 as the coin markets continue to go from strength to strength.
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