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 Replies: 13 / Views: 3,552 |
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Pillar of the Community
Egypt
3470 Posts |
One of the rarest and most highly-prized of all Islamic gold coins, struck possibly to coincide with an occasion when the Caliph himself led the Hajj pilgrimage to Mecca, sold for a record £3.7 million ($6.029,400 US) in a sale at specialist auctioneers Morton & Eden in London today. The price makes it the second most expensive coin ever auctioned. (The most expensive is the 1933 Double Eagle sold by Sotheby's in July 2002 for $7,590,020).  http://www.coinweek.com/news/featur...n-eden-sale/ |
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Pillar of the Community
Thailand
1509 Posts |
Darn it. So my bid of $6,029,300 just failed! Ah well better luck next time.  |
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Pillar of the Community
Germany
1062 Posts |
Well for a coin that doesn't even have a picture on it, I'm guessing the buyer is either a fanatical islamic coin collector or just someone with an eye on islamic history. My bid of 3 cents wasn't anywhere near! I think I was third!
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Pillar of the Community
France
1591 Posts |
That's how collection work, everyone has its themes - and want to complete the set (be it a period, a mint, a date, OFEC, a theme ...) Many arabic coin in this period are only written, as are indian coin for example (check the huge threads about them) BTW - I'm sure it wouldn't have been ... let's say a crusade coin ... you wouldn't have said "a fanatical catholic coin collector"  Edited by MathieuMa
11/10/2011 06:44 am
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Pillar of the Community
Norway
510 Posts |
augsburger, you may well have been third. I threw in my Two Cents but you outbid me by 50%. I will not speculate in the beliefs of the buyer, but I feel I can state confidently that his personal economy is quite good. Either that, or he just received message that his cancer is terminal and felt that economy no longer matters.... |
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Pillar of the Community
United Kingdom
2868 Posts |
As in everything - there are different leagues of collectors. Most of us struggle to gather up the funds for a nice average coin - but there are the big league collectors out there - They may or may not be as knowledgable, they may or may not derive as much enjoyment fom their hobby (if it is a hobby and not investments) but they are necessary to keep the hobby going (just think of the auctioneers commission!)
Have I overpaid for a coin? - most definitely yes but with time that pain goes and you still have the coin. Maybe not $6m worth of pain tho ... :)
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Pillar of the Community
France
1591 Posts |
And with those 6 millions, I'm sure you could build a time machine to get one back then :p
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Bedrock of the Community
United States
10045 Posts |
I'm sure that if I specialized in coins from this period, I would better understand how rarity and demand sets this price--just like any rare European or US coin. It's easy to forget there are specialized collector markets...across the whole world.
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Bedrock of the Community
Australia
21786 Posts |
How much did the Hunt Brothers buy the Seltman dekadrachm of Athens for?
I think it may have been a record at the time. It would be interesting as to how inflation would have fed into this price.
A record of the Brasher Doubloon prices may make interesting reading.
Edited by sel_69l
11/11/2011 02:20 am
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Pillar of the Community
Norway
510 Posts |
Is anyone here able to translate the text on this coin? Would be interesting to see.
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Pillar of the Community
 Egypt
3470 Posts |
Quote:
Litotes:
Is anyone here able to translate the text on this coin? Would be interesting to see. This is the best I could do as there are some areas I really couldn't read  pic on left;
No God but Allah alone with no partner Metal of the Commander of the Faithful words in circle
There is no God but Allah Muhammad is the Messenger of God pic on the right;
Versus from Qur'an;"Say, He is Allah , [who is] One, Allah , the Eternal Refuge. He neither begets nor is born, Nor is there to Him any equivalent." Mine of the Commander of the Faithful in the Hejaz |
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Valued Member
Philippines
386 Posts |
wow what a gold coin... |
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Pillar of the Community
United States
4778 Posts |
Interesting history behind this very nice coin. Thanks for sharing Eg!
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Pillar of the Community
Luxembourg
588 Posts |
Great coin!
I have been hesitating for a long time to buy an old islamic gold coin.
I like their appearance, but this one is definately not on the list ;)
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Replies: 13 / Views: 3,552 |
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Posted 11/10/2011 05:11 am
