The 1787 Brasher Doubloon is one of the most iconic and valuable coins in American history. Struck by Ephraim Brasher, a skilled goldsmith in New York, this coin represents a time before the United States had an official mint. Its rarity, historical significance, and craftsmanship make it a treasure sought after by collectors and historians alike.
What is the 1787 Brasher Doubloon?
The Brasher Doubloon is a privately minted gold coin created in 1787. It features an image of the sun rising over a mountain, accompanied by the phrase “Nova Eboraca Columbiam Excelsior” (New York and America, Ever Higher). The reverse displays the national emblem, an eagle holding an olive branch and arrows, a design reminiscent of the Great Seal of the United States.
Key Features of the Brasher Doubloon
| Feature | Details |
|---|---|
| Year Minted | 1787 |
| Creator | Ephraim Brasher |
| Material | Gold |
| Weight | Approximately 26.4 grams |
| Diameter | 30-33 mm |
| Mint Mark | “EB” punched on the eagle’s wing or breast |
The Historical Context of the 1787 Brasher Doubloon
Why Was It Minted?
In the late 18th century, the United States lacked a formal currency system, relying on foreign coins for trade. Ephraim Brasher, a goldsmith and silversmith, took it upon himself to create coins that would facilitate commerce and instill trust in the fledgling nation’s economy.
Symbolism in the Design
- Obverse: The sun rising over the mountain symbolizes hope and the dawn of a new nation.
- Reverse: The eagle holding arrows and an olive branch signifies strength and peace, a balance critical to the nation’s identity.
Why is the 1787 Brasher Doubloon So Valuable?
The Brasher Doubloon holds immense value due to:
- Rarity: Only a few original coins are known to exist today.
- Historical Significance: As one of the earliest American gold coins, it reflects the economic conditions and artistry of the post-Revolutionary period.
- Artistry and Craftsmanship: Each coin was hand-struck, showcasing Brasher’s exceptional skill.
- Unique Mint Marks: Variants include coins with the “EB” mark on the eagle’s wing or breast, adding intrigue to its collectibility.
Notable Auctions and Record Sales
The Brasher Doubloon has set multiple records in the numismatic world:
- In 2011, a doubloon with the “EB” mark on the eagle’s breast sold for $7.4 million.
- In 2021, another specimen was sold for a staggering $9.36 million, cementing its status as one of the most valuable coins in existence.
How to Authenticate the 1787 Brasher Doubloon
Given its high value, authentication is crucial. Experts recommend:
- Professional Grading Services: Trusted services like PCGS and NGC can verify the coin’s authenticity.
- Historical Provenance: A well-documented history of ownership adds credibility.
- Inspection of Features: Verify the “EB” mint mark placement and other design details.
Conclusion
The 1787 Brasher Doubloon is more than just a coin—it is a symbol of America’s early ambition and ingenuity. Its rarity and historical significance make it a prized artifact that continues to captivate collectors and history enthusiasts alike.
FAQs
1. How many Brasher Doubloons exist today?
Only about seven confirmed examples of the Brasher Doubloon are known, making it incredibly rare.
2. What does the “EB” mark on the coin signify?
The “EB” is the personal mark of Ephraim Brasher, the coin’s creator.
3. Why is the Brasher Doubloon considered America’s first gold coin?
Though privately minted, it was the first gold coin made in the U.S. after independence.
4. Can I see a Brasher Doubloon in a museum?
Yes, some specimens are displayed in museums or loaned to exhibitions by private collectors.
5. Are there replicas of the Brasher Doubloon?
Yes, modern replicas exist but lack the historical and monetary value of the originals.