A rare 1808 American Quarter Eagle gold coin has sold at auction for $2.35 million. The coin was part of a collection owned by D. Brent Pogue, a renowned California collector.
The 1808 Quarter Eagle was worth $2.50 when it was first minted, and the selling price is a record for any coin ever sold of that denomination. It is also the most expensive U.S. gold coin ever sold.
At the end of the day, the Quarter Eagle coin was just a part of the auction. Stack’s Bowers Galleries and Sotheby’s in New York auctioned off 128 rare American coins owned by Pogue, all minted between the 1790s and 1830s, netting a hefty $25.3 million. The auction is just the first of seven lots (totaling 650 coins) to head to auction. Pogue’s collection is said to be one of the best – and most valuable – in the world. Pogue has decided to sell his collection after 40 years so others could have the chance to own the rare coins.
The remaining coins will be auctioned off over the next two years. An 1822 Half Eagle could sell for more than $5 million (only three are known to exist), and a 1804 Silver Dollar could set a world record when it is sold in the last lot in May 2017.
Alex has written for Vanity Fair, Barrons, Bloomberg and Condé Nast Traveler.