A rare and huge Spanish gold piece, a coin printed in 1609 bearing the name of King Philip III of Spain has become a new auction record in Europe, having fetched around 2,817,500 Swiss francs (approximately 3.49 million USD) at an auction held in Geneva. This sale is the most expensive price that was ever received by a European coin at an auction making it a deep historical and numismatic one.
Historical/Numismatic Significance
– The largest denomination that was minted during the early 17 th century is known as the coin, the Centen or 100 escudos.
It was made of 339 grams (12 ounces) of high-purity gold, produced in the Americas, minted in Spain in the Spanish city of Segovia, as a representation of royal authority and riches in Spain.
– Made mainly a diplomatic present to kings, it was never meant to be circulated at all.
– Before this record sale the coin re-emerged in the U.S. in 1950 having been lost centuries before it was acquired by private collections.
– It is the only surviving example of its type and therefore is highly rare in terms of material value and cultural value.
Auction Details and Record
– Sold by Numismatica Genevesis SA in Geneva, Switzerland, and sold at an initial price of 2 million Swiss francs (~$2.48 million).
– Bidders were fierce among collectors and institutions in the U.S., Europe and the Middle East which pushed the price to all-time highs.
– It sold apart the former European auction record of 1.95 million Swiss francs ($2.42 million) of a 100-ducat coin of Ferdinand III of Habsburg.
Cultural Impact and Legacy
– The coin is a representation of the Spanish imperial prosperity at the time of King Philip III and the kind of gold rush that comes with the colonial period.
– Its royal heritage and recognition as an instrument of diplomacy give it a higher position above being just money, and that it is a physical monument of royal history.
– The success of the auction reflects the timelessness and rising price of the rare historical coins in the eyes of collectors around the world.
Physical and Artistic Characteristics
– The coin was made very finely and with great skill, and the subject of the design displays royal motives and adornments to Philip III.
– It is big, which makes it look like a showcase, and the grandeur of Spanish monetary ambitions in the early seventeenth century.
High amount of gold (around 23.5 karats) gives the piece intrinsic as well as historical and collectable value.
Modern Market Implications
– This world-record sale is likely to establish new world-record values of early-modern European and colonial-era coins in the market world over.
– Other high quality historical gold coins that are rare will be prompted in demand by the collectors and investors.
– Museums and individuals could look at such artifacts as a purchase due to the growing interest in the market.
Summary Table: A Spanish Gold Coin, Centen Auction Highlights 1609.
| Feature | Details |
|---|---|
| Coin Name | Centen Segoviano (100 Escudos) |
| Mint Year | 1609 |
| Weight | 339 grams (12 ounces) |
| Gold Purity | High-purity gold from Americas |
| Auction Location | Geneva, Switzerland |
| Final Sale Price | 2,817,500 Swiss francs (~$3.49 million USD) |
| Previous Record Holder | 100-ducat coin, Ferdinand III (Swiss Fr. 1.95 million) |
| Historical Significance | Regal diplomatic gift symbolizing Spanish imperial wealth |
FAQs
Q1: What is so valuable about this Spanish gold coin of 1609?
It is the scarcity, the highest gold in it, the highest level of craftsmanship, and a special place as a royal diplomatic object.
Q2: What is the historical significance of this price of the auction?
It became the highest coin auction in Europe since surpassing past standards by more than forty percent.
Q3: What is the historical meaning of this coin?
It represents the apogee of Spanish imperial prosperity and power stemming out of the gold streams in the New World under the reign of Philip III.
