A 300 year old Mexican gold coin could fetch upto $400,000 in auction

Coin collectors, its time to get excited! In presenting a lucrative opportunity to those of our kind, a rare 1714 Mexican coin is all set to go under the hammer at a live auction in Las Vegas. Estimated to be priced anywhere between US$200,000 and US$400,000, the coin is extremely rare and is christened as the ‘Presentation 8 Escudos’ in true Mexican style.

According to Stack’s Bowers Galleries, a leading auction house behind the sale, the coin was originally minted for Spanish dignitaries (most likely the king) and was created as a symbol of Spain’s success in expanding into the New World. The rare gem and several more like it had apparently sunk in a hurricane when they were being sojourned from the New World to Spain in 1715. They were later discovered from the shipwrecks over the last 50 years at different intervals.

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Commenting on it, Brian Kendrell, president of Stack’s Bowers said, “What was once thought lost forever is now literally a piece of treasure for collectors,” he further added, “This unique piece of Mexican and Spanish history represents a world that doesn’t exist anymore but tells a story of exploration and conquest that will never exist again in our lifetime.”

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Brought under the hammer from the collection of famous coin connoisseur – D. Brent Pogue, the coin features a ‘perfectly centered, bold strike upon a planchet free from impurities’ along with intriguing yellow-gold hues and mint luster. It will be auctioned live on August 6 in Las Vegas.

[Via: Barron’s]