Russian gold glitters amongst rare coins

The Ducat from the reign of Emperor Paul I was exchanged for £44,500

In general, the demand for gold in general and rare gold coins in particular has been strong in recent years. But often there isn't a great deal of focus in the English-speaking world on one of the BRIC (Brazil, Russia, India and China) countries, in which the number of collectors in increasing.

Russians are increasingly interested in the collection of rare and valuable gold coins, however, and a coin sold at last week's major auction held by Baldwin's, which also included the Strickland Neville Rolfe collection illustrates the fact.

The Paul I Gold Ducat was both a variety and condition rarity, as it has an unusual edge variation and there are few examples of comparable coins which are extremely fine like this one.

Paul I Gold Ducat (click to enlarge)

This 1797 example (Paul I reigned for just five years from 1796 before his largely benevolent reign was cut short by assassination) was given a guide price of £15,000 at Baldwin's auction in London and over the internet, but collectors clearly thought it was worth more.

Frenetic bidding saw it raised up to a grand £44,500 - a close second to the top lot - before it was taken home by a happy collector. The condition makes it an excellent candidate for investment.

More valuable gold coins are available right now.

• More news on Coins
• Enjoy the read? Don't forget to sign up for your free newsletter with exclusive content