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N.L. coin sells for more than $100,000

April 14, 2014 in Antique Coins, Auctions, Canadian Coins, Coins, Gold, Gold Coins, History, News, Numismatica, Numismatics, Rare Coins, World Coins

By: Mark Rendell Special to The Telegram. April 14th, 2014. (http://www.thetelegram.com)

Rare gold piece sets record

Rummage through dad’s old coin collection. Check grandma’s trunk. If you have an old Newfoundland coin lying around, you may make a fair dollar.

On April 11, one of these coins sold for US$102,812.50 at a major auction in Chicago. The $2 gold coin is, according to Rod O’Driscoll, owner of East Coast Coins, the most expensive Newfoundland coin ever sold.

It was minted in 1865 to test a design for the Newfoundland $2 coin. The design wasn’t chosen, so the coin is one of a kind.

On its way to the auction block, said O’Driscoll, the coin passed through some interesting hands. In 1910 it appears to have shown up in the British Museum in London. A little later it found its way into the collection of King Farouk of Egypt.

In a 1969 article, coin specialist Fred Bowman listed it as one of Canada’s 10 rarest coins, and most recently it was sold in 1995 from the world famous Emory May Norweb collection for close to  $40,000.

Full article at the source>

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