Everyone has heard that it costs 2.5 cents to make a penny, but one rare 1887 British sovereign will fetch at auction a final price many times in excess of the gold used to mint it. Experts expect the rare coin to command a final price between $200-$250k at the Heritage Auction’s Ancient and World Coin Signature Auction, to be held in New York City on the 4th and 5th of January.
picture courtesy of bornrich.com
The coin contains the standard .2354 ounces of gold, which at the current market price of $1731 would be worth about $407. So why is this coin worth a quarter of a million dollars? The one being put up for auction is considered to be on the finest examples of the “Young Head” Victoria gold crown sovereign sold. This particular coin comes from the famed collection of HC Murdoch. The Murdoch collection, originally sold in 1903-1904, is widely held to be the one of the greatest collection of coins from George I to Victoria ever assembled. The coin to be auctioned has been graded PR64 ultra cameo, which means that it is an uncirculated or mint coin with a highly reflective background and frosted details for contrast.
The 1887 Victoria gold crown sovereign is called the “Young Head” sovereign because Victoria modeled for the coin’s designer, official chief engraver for the Royal Mint from 1828-1851, when she was just 15. The portrait first appear on a medal struck to commemorate Victoria’s first royal visit to London in 1837, and then appeared on British coinage from 1838 to 1887. 1887 was the final year that the portrait appeared on any coin’s design, making a mint example of the Victoria gold crown quite rare.
Matthew H for Raymond Lee Jewelers, South Florida’s premiere source for buying and selling luxury watches and designer jewelry.