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The Brasher Doubloon

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Pillar of the Community
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 Posted 12/21/2020  12:57 pm Show Profile   Check westcoin's eBay Listings Bookmark this topic Add westcoin to your friends list Get a Link to this Message
From the American Numismatic Society (ANS) a well presented short history of the Brasher Doubloon, An extremely interesting and valuable rare coin.

MVeJREpJhGk


They are slightly larger than a U.S. half dollar with a composition of gold 89.3%, silver 6.4%, copper approximately 3%, remainder trace elements (per Michael Hodder). I've personally held both the Garrett examples in hand, raw (well in flips it was pre TPG era), probably the most valuable coins I've ever held and I' also held most of the 1913 nickels and a couple of 1804 dollars. These were by far and away the most impressive coins I've encountered. Back in 1979 when I had the chance encounter with these coins the pair were worth well under a million dollars each, todays value?

One will be coming up for sale at a Heritage Auction on January 21, 2021 in the Donald G. Partrick Collection held in Dallas, TX.

The New York-style Brasher doubloon is arguably the world's most famous numismatic rarity, and the Stickney-Ellsworth-Garrett-Partrick example with the "EB counter stamp on wing" is the finest of the mere seven known specimens. This one is housed in a NGC holder and graded MS65#9733;

Current bid on this Doubloon is $3,420,000.00 (incl. fees).


Below is the link to Heritage's site and the Doubloon's auction page, it's a good read composed by my friend Mark Borckardt, senior cataloger at Heritage and it contains excellent photos and video captures.

https://coins.ha.com/itm/colonials/...-1326-121620
"Buy the Book Before You Buy the Coin" - Aaron R. Feldman - "And read it" - Me 2013!
ANA Life Member #3288 in good standing since 1982, EAC Member #6202, NBS Member, 2 variety collector.

See my want page: http://goccf.com/t/140440
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 Posted 12/22/2020  07:41 am  Show Profile   Bookmark this reply Add ExoGuy to your friends list Get a Link to this Reply
Unless my bank commits a major error, I'll not be bidding on this counterstamped doubloon!

I do own the Brasher Doubloon movie though, and a 1960's replica of the coin.

The closest I've come to finding a Brasher hallmark is an EB c/s on an early Bust quarter. Back in the 1970's, these EB stamps were touted as belonging to Brasher. Turns out they were the hallmark of Ezekiel Burr, a Providence, RI silversmith.
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 Posted 12/28/2020  12:52 pm  Show Profile   Check colonialjohn's eBay Listings Bookmark this reply Add colonialjohn to your friends list Get a Link to this Reply
I was in the auction room during that bidding war- I believe the underbidder was K****s - after Patrick won it the underbidder was noticeably upset and yelled out - LET HIM HAVE IT! and possibly some other lower toned vernaculars not suitable for this channel ... LOL.

John Lorenzo
Numismatist
United States
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 Posted 12/28/2020  2:05 pm  Show Profile   Bookmark this reply Add ExoGuy to your friends list Get a Link to this Reply

Quote:
the underbidder was noticeably upset and yelled out - LET HIM HAVE IT! and possibly some other lower toned vernaculars not suitable for this channel ... LOL.


My-oh-my .... brash words from a Brasher loser. Blimey!
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 Posted 12/28/2020  3:23 pm  Show Profile   Bookmark this reply Add msb to your friends list Get a Link to this Reply
How neat! I really appreciated your sharing this. It was an interesting video and I learned not only about the Brasher but about colonials generally -- which is not something I know much about. Secondly, it also prompted me to click through and learn more about ANS. This is one reason I am coming to really appreciate this Board. It really does enrich one's collecting experience. Well done.
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 Posted 12/30/2020  4:22 pm  Show Profile   Check westcoin's eBay Listings Bookmark this reply Add westcoin to your friends list Get a Link to this Reply
Thanks MSB! I am not a member of the ANS myself, maybe when times are a bit better I'll join, I am a life member of the ANA though. I'm just now getting into colonials and early American coins which they say all US collectors end up in if they collect long enough. LOL It's true, and a fascinating subject area to study.

ColonialJohn, great side story to that coin, was that the Garrett sale you were attending? Sure wish I had been able to go just to be there in person. I spent almost 2 weeks with Dave Bowers before that at in Colorado Springs as a YN. What a heady time to be getting into coin collecting and to have a true coin master and genius to teach our group. We got to see coins to this day I still am in awe of.
"Buy the Book Before You Buy the Coin" - Aaron R. Feldman - "And read it" - Me 2013!
ANA Life Member #3288 in good standing since 1982, EAC Member #6202, NBS Member, 2 variety collector.

See my want page: http://goccf.com/t/140440
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 Posted 01/21/2021  02:18 am  Show Profile   Check westcoin's eBay Listings Bookmark this reply Add westcoin to your friends list Get a Link to this Reply
Bidding is now over $6,000,000.00

Guess I won't be taking this beauty home any time soon.
"Buy the Book Before You Buy the Coin" - Aaron R. Feldman - "And read it" - Me 2013!
ANA Life Member #3288 in good standing since 1982, EAC Member #6202, NBS Member, 2 variety collector.

See my want page: http://goccf.com/t/140440
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 Posted 01/21/2021  11:51 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
Guess I won't be taking this beauty home any time soon.
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 Posted 01/22/2021  1:39 pm  Show Profile   Check westcoin's eBay Listings Bookmark this reply Add westcoin to your friends list Get a Link to this Reply
Okay the Brasher has a new home now, unfortunately it's not coming to my house. The final selling price even surprised me at $9,360,000.00 (including buyers fee). Not too far off being the most expensive coin sold at $10,000,000.00

The 1786 Brasher Lima Doubloon in MS61 ( NGC & CAC) sold for $2,100,000.00 and the Famous finest known Colonial copper, the incredible 1786 New Jersey Copper, Marris 18-M in MS66RB ( NGC) ended up at $156,000.00

Congrats to Heritage and Donald Partrick for such a successful auction during the pandemic and other market uncertainties happening around the globe. Had to be a big gamble to sell such a high end collection now. But it did really well overall setting quite a few records on coin series.

I'm just now getting a chance to peruse the prices realized throughout the entire Partrick collection, it's impressive in the Colonial offerings. This collection was part of the current FUN sale (actually still live right now as I type) however the Partrick coins ended last night.
"Buy the Book Before You Buy the Coin" - Aaron R. Feldman - "And read it" - Me 2013!
ANA Life Member #3288 in good standing since 1982, EAC Member #6202, NBS Member, 2 variety collector.

See my want page: http://goccf.com/t/140440
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 Posted 01/22/2021  2:53 pm  Show Profile   Bookmark this reply Add ExoGuy to your friends list Get a Link to this Reply
Sadly, a counterstamped doubloon is a tad beyond my budget. I did manage to win three lots though, ten pieces, total. I was able to attribute a few of the maverick pieces, and that's what I find most gratifying. Within lots containing multiple pieces, auction bargains can often be found.

Not only did the doubloon fetch a strong price, a great many pieces, especially the classic counterstamps, also reflected an extremely healthy market.
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 Posted 01/22/2021  3:19 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
The final selling price even surprised me at $9,360,000.00 (including buyers fee).
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 Posted 01/22/2021  4:49 pm  Show Profile   Check westcoin's eBay Listings Bookmark this reply Add westcoin to your friends list Get a Link to this Reply
ExoGuy Congrats on the purchases and winning some bids from this amazing collection. I too would have been bidding if I still had a current income coming in, (I've been out of work since March 2020) and no real hope for any work right now, either it seems. I can't justify tossing funds towards coins when food and other bills are a bit more pressing at the moment. It seems that those with lots of money seem to have even more of it now, and prices are going crazy all over the place on extremely nice material, which really isn't all that surprising, I suppose.

Here is the moment it sold at auction.
bNx7ks111co

"Buy the Book Before You Buy the Coin" - Aaron R. Feldman - "And read it" - Me 2013!
ANA Life Member #3288 in good standing since 1982, EAC Member #6202, NBS Member, 2 variety collector.

See my want page: http://goccf.com/t/140440
Edited by westcoin
01/22/2021 5:42 pm
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 Posted 01/22/2021  7:13 pm  Show Profile   Bookmark this reply Add NumisEd to your friends list Get a Link to this Reply
Coincidence that the Doubloon has some similarities to the Central American Republic Reales? I'm referring to the sun above the mountains...
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 Posted 01/22/2021  7:27 pm  Show Profile   Check westcoin's eBay Listings Bookmark this reply Add westcoin to your friends list Get a Link to this Reply
Ed, I see it too, I believe all of Ephraim Brasher's doubloons were based off Spanish styled coins. From the Lima Doubloon Auction info page, also written up by my friend Mark Borckhardt;


Quote:
Although the Lima doubloons were intended to closely resemble their Spanish counterparts of the 1740s, specifically the Philip V eight escudos of 1742, Brasher included their true date of manufacture (1786) in the peripheral obverse legend. Unfortunately, the legend overlaps the edge of the coin on one example of the Lima doubloon and is almost completely off the flan on the other. Only the bottom portion of the date was actually impressed into the surface of the present coin, leaving later numismatists to guess at the identity of the four digits partially displayed.


More in the complete information/description here:
https://coins.ha.com/itm/colonials/.../1326-3935.s

The United States was such a new country and had no real central banking system or coinage of it's own yet, so anything coming out needed to be very familiar and be able to pass the muster when it came to independent assay tests. Spanish Coinage was a well known entity.


Quote:
Brasher's coins had about the same intrinsic value as the Spanish coins, but the difference in the subsidiary elements in their alloy suggests they were not produced from common stock. Brasher must have refined the gold he used to strike his doubloons to his own unique alloy specifications rather than just melting a number of contemporary Spanish coins to retrieve the gold for his coinage. If, as we believe, Brasher produced his doubloons for circulation, to augment the meager supply of gold specie that was available for commerce, it would have been counterproductive to melt down gold coins that were already circulating just to produce an equivalent number of coins with a new design.


Michael Hodder also contributes to this description and it goes on for several pages on the linked Heritage Auction page. Very much worth reading if you have any interest in early American gold coinage or just general curiosity of Colonial coinage in general.
"Buy the Book Before You Buy the Coin" - Aaron R. Feldman - "And read it" - Me 2013!
ANA Life Member #3288 in good standing since 1982, EAC Member #6202, NBS Member, 2 variety collector.

See my want page: http://goccf.com/t/140440
Edited by westcoin
01/22/2021 7:37 pm
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 Posted 01/22/2021  7:44 pm  Show Profile   Bookmark this reply Add ExoGuy to your friends list Get a Link to this Reply
@ Westcoin .... Sorry to hear of your sad economic situation. My ten coin purchase amounted to about $35, apiece. What with substantially downsizing my various collections in recent years, I reasoned that this was a modest price to pay for what is proving to be a good many hours of pleasurable research on my part. I find coin/token research, particularly so, the counterstamps, to be great entertainment in retirement. It's also a great diversion, as is the CCF, in this sad national climate.

Great Collections Representative
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 Posted 01/23/2021  12:28 pm  Show Profile   Bookmark this reply Add greatcollections to your friends list Get a Link to this Reply
Amazing that the person who bought the Brasher this week (and other Brashers in the auction) is a first time coin buyer. I'm sure they were partly persuaded by other collectibles that have increased so much in value in the past year.

- Ian
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