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The E-Sylum:  Volume 10, Number 40, October 7, 2007, Article 19

1804 U.S. TEN DOLLAR GOLD SELLS FOR $56 MILLION

[An Associated Press article discusses the recent sale
of a rare 1804-dated Eagle - some excerpts are reprinted
below.  Is this the King Farouk collection specimen?
-Editor]

"A rare $10 gold coin made for President Andrew Jackson
to give as a diplomatic gift during trade missions to
Asia was purchased Thursday by a private collector for
$5 million.

"The 1804-dated Eagle coin  which was actually struck
in 1834 at the Philadelphia Mint  is one of only four
surviving examples of the special coin.

"'The buyer and seller want to remain anonymous. Both
are northeastern United States entrepreneurs who have
been collecting coins since they were young boys,' said
David Albanese, president of Albanese Rare Coins, which
handled the sale.

"The same coin sold for $1 million in 2003 and again in
2005 for $2.47 million, said Dean Albanese, the company's
chief executive officer.

"'It is one of the rare U.S. coins out there. They are
neat pieces in that in one sense they are not really a
coin made in 1804, even though it is dated 1804 ... it
is sort of a created coin,' said Douglas Mudd, curator
of the American Numismatic Association Museum in
Colorado Springs, Colo.

"The $5 million purchase price was the highest price
ever paid for an 1804-dated $10 gold piece and shares
the record for the world's second most valuable rare
coin with a 1913 nickel that sold this year, Dean
Albanese said. The world's most valuable coin is a
1933 Saint-Gaudens gold Double Eagle that was purchased
at auction in 2002 by an anonymous buyer for $7.59 million.

"The coin sold Thursday was lost until the 1960s,
he said, adding that it had three previous private
owners that he knows about. Its history before
that is 'sketchy.'"

To read the complete article, see: Full Story

  Wayne Homren, Editor

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