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1787 Brasher Doubloon Coin Worth $10 Million Graded by NGC

The Numismatic Guaranty Corporation has graded an encapsulated what may be
the world’s most valuable coin.

A prominent numismatist, Walter Perschke, is the owner of the coin, commonly
thought to be the finest known example of the rare Brasher Doubloon. Perschke
purchased the Brasher Doubloon in 1979 for $430,000, a record price for a coin. The
Doubloon is now valued at $10 million.

The example was graded MS 63 by NGC. There are only seven Brasher
Doubloons known, two being held in museum collections. Sales of Brasher Doubloons
are few and far between, though an example graded AU 50 was recently sold by
Blanchard and Company of New Orleans for nearly $7.4 million.

Walter Perschke said since he purchased the coin in 1979 it has been seen by
more than 2 million people—more viewers than any other coin.

The Brasher Doubloons were struck in 1787 in New York City and have intrigued
collectors for generations, though the exact story behind the coins is shrouded in mystery.
Chief Coiner Adam Eckfeldt of the Philadelphia Mint saved the first coin in 1838 when a
depositor wished to have the metal restruck into federal coins or ingots. That example is
now in the Smithsonian Insititution.

Ephraim Brasher, a prominent gold and silversmith, resided at No. 1 Cherry Street
in lower Manhattan when George Washington relocated to No. 3 Cherry Street. A portion
of the coin’s value is given to its proximity to Washington. Brasher furnished silverware
for the future president on more than one occasion. Washington also owned two tea tray
with Brasher’s hallmark, the same hallmark that appears on the Brasher Doubloons.

The coin design is of the nearly formed United States with the obverse mirroring
the Great Seal depicting an eagle holding an olive branch and arrows. The olive branch
symbolizes a desire for peace as the arrows indicate a readiness for war. The coin also
contains the national motto, E PLURIBUS UNUM.

On the reverse, the coin depicts a sun rising above a mountain in front of a sea,
signifying a new beginning.

NGC Chairman Mark Salzberg said the Brash Doubloon is our country’s first
gold coin, struck in the infancy of the United States with a purely American design.

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