A rare 17th Century coin sold at auction for a record-breaking $2.52 million eight years after it was found in an old cabinet in Amsterdam.
The 1652 New England threepence, which is about the size of a nickel, was struck in Boston and found over three centuries later, inside an old cabinet in Amsterdam around 2016, according to a news release Monday from Stack’s Bowers Galleries, which handled the auction. The owner had no idea how valuable the discovery was for several years until he decided to thoroughly research the small, worn disk with three Roman numerals on one side and “NE” on the other.
Weighing just 1.1 grams, the value in silver was just $1.03 as of Monday’s market, but its rarity and rich history raised the price to a new record for any non-gold U.S. coin struck before the founding of the United States Mint, according to the gallery. The previous record was $646,250.
The threepence coin is thought to have come from the politically powerful Quincy family of Boston, which included the first lady of the United States, Abigail Adams, wife of President John Adams. Before serving as the second president of the United States, John Adams was also the fledgling country’s first ambassador to The Netherlands.
New England threepence coins are exceedingly rare – the only other known example has been in the care of the Massachusetts Historical Society for 120 years.
“This is one of the most important coins in all of American numismatics,” Professional Coin Grading Service President Stephanie Sabin told Coin World. “Since before the Civil War, collectors have regarded the 1652 New England threepence as the single-rarest American colonial coin. And for more than a century it’s been known as entirely unobtainable for private collectors.
The bidding war for the coin, which reached a price three times higher than initial projections, was “an exhilarating ride,” according to auctioneer Ben Orooji, who called the 12-minute contest “a career highlight.”
When looking for investment options, gold coins should rate at the top of your list. It is, arguably, the best option for collectors and investors alike. Gold provides physical, easily liquidated assets and is indispensable in engineering and electronics, as well as the health, environmental, and jewelry industries. In coins, rounds, and bars, gold promises to be in constant demand.
According to the World Gold Council, “The modern gold market is a picture of diversity and growth.” The council claims that gold production has tripled since the early 70s. Meanwhile, the amount of gold purchased annually has quadrupled.
Gold resists corrosion, can be stored in a relatively small space, and holds its value well. Additionally, investors need not pay capital gains tax on gold purchases – only upon sale.
We recommend purchasing one-ounce coins for the lowest premium above Spot price, but many coins below come in smaller versions as well.
Gold American Eagle Coin
Available in one-tenth-ounce, quarter-ounce, half-ounce, and one-ounce coins, the American Gold Eagle should be at the top of your “must-have” list. It was designed and first minted in 1986 and has stood the test of time. The American government releases a limited number of these coins per year. You can purchase them as proofs, uncirculated coins, or proof sets.
The American Eagle contains 91.67 percent gold (22 karats), 5.33 percent copper, and 3 percent silver. The U.S. Government guarantees the weight, content, and purity of these coins, making the American Eagle one of the most popular investment coins you can buy. They are easily valued and highly liquid.
While the spot price of gold determines the value of any investment coin, they also carry a legal tender value ranging from $50 for the one troy-ounce coin to $5 for the one-tenth-ounce piece. The American Eagle is also available in silver.
The coin’s face features a strong Lady Liberty, her hair tumbling in a brisk wind. She holds her torch high in her right hand and has an olive branch in her left. She stands before the Capitol building on a field of rays. Stars march around the outer edge of the coin. The face of the coin shows the year it was minted.
The reverse side holds a touching vignette of a family of eagles. The male furls his wings, preparing to land in his nest where his mate and their hatchling await. He holds an olive branch in his claws.
American Eagle coins are scheduled to be redesigned in 2021 to introduce more up-to-date counterfeiting measures, making this coin an even better investment.
Canadian Gold Maple Leaf
The one-ounce Canadian Maple Leaf gold coin is one of the most secure investments in the world. This security allows the stunning Canadian Gold Maple Leaf coin to give even the Gold American Eagles a run for their money.
The award-winning Royal Canadian Mint is always on the cutting edge of technology. Bullion DNA (Digital Non-destructive Activation) technology, introduced in 2013, is one of their most significant advances.
This technology consists of micro-engraved images on the face and reverse of their 1-ounce gold bullion Maple Leaf Coin. The Mint takes high-resolution photos of every one of these beautiful coins, storing them on secure servers. A special reader, released only to authorized dealers and distributors, allows real-time authentication of one-ounce Maple Leaf coins struck after 2013.
These anti-counterfeiting measures have boosted buyer confidence. The Mint has subsequently begun striking one-ounce silver and one-ounce platinum Maple Leaf coins with the same technology.
Made of .9999 fine gold, the Canadian Maple Leaf is available in fractional sizes up to five ounces.
On its face, the coin displays a right-facing bust of Queen Elizabeth in pearls. The reverse features a single maple leaf, Canada’s national symbol.
These coins are guaranteed by the Canadian government, making the Canadian Maple Leaf gold coin a solid investment for beginners and experts alike.
American Buffalo Gold Coin
The American Gold Buffalo is the first 24-karat coin minted in the United States. It was released by the U.S. government in 2006 which required the coins to be minted from gold mined in America. It gets its classic looks from the original James Earle Fraser design for the Buffalo Nickel. This design was commissioned in the 1900s by President Franklin Roosevelt.
Its face holds the austere, aquiline features of a Native American Chieftain with two feathers tied high in his hair. On the reverse is the proud profile of an American Buffalo gazing westward.
The U.S mint released the Buffalo coin to compete with the Canadian Maple Leaf, the Austrian Philharmonic, and other 24-karat coins available to collectors and investors alike. The coin’s purity (.9999 fine gold) makes it softer than the American Eagle. Handle with care to avoid marks and scuffs in the metal.
The Gold Buffalo carries a face value of $50. However, this uniquely American coin — printed on gold mined in the United States, stamped by an American Mint, and backed by the United States government — is a stable value for discerning investors.
