Press Release - November 17, 2004

Heritage to Sell "1742" Lima-Style Brasher Gold Doubloon.

Dallas, Texas: One of the two known Brasher "1742" Lima Style Doubloons, the Ten Eyck specimen, will be included in the Heritage Numismatic Auctions sale during the Florida United Numismatists Convention in January.

This will be the first time in over eight decades that this famous coin is in a public auction.

The Brasher Doubloon will be offered with no minimum bid or reserve in Heritage's Platinum Night sale as part of their FUN Signature Auction in Fort Lauderdale, Florida, January 12 - 15, 2005.

The Brasher Lima Style Doubloon was made in the style of the 1742 Lima Mint eight escudos gold coin, a coin originally produced under authority of King Phillip V of Spain. Until recently, this coin has been shrouded in mystery. It was not until 1991, over 200 years after Ephraim Brasher produced this coin, that much of its story was told.

Numismatic researcher Michael Hodder examined this issue in detail in a paper he prepared for the 1991 Coinage of the Americas Conference at the American Numismatic Society headquarters. Even this paper, which was published by the ANS in 1992, is not widely known outside of a small circle of colonial specialists. Using modern scientific testing procedures, some of which were not available to numismatics until recently, Hodder provided conclusive proof that this was a product of Ephraim Brasher and not an earlier or later party. He was also able to demonstrate that this issue was produced prior to its highly publicized brethren, Brasher's New York style doubloons.

Ephraim Brasher was a New York gold and silversmith, and jeweler. He was closely acquainted to George Washington, living virtually next door. While Brasher belonged to a class of citizens that were highly respected community members, Brasher's association with Washington further improved his social standing. Perhaps it was this association that provided Brasher, along with his own associate, John Bailey, to petition the state of New York for a contract to strike copper coins. John Bailey is known for the New York Excelsior coppers, the Nova Eborac coppers, and one type of New Jersey copper known as the Running Fox variety. All of these are related to the Brasher Doubloons by evidence of punch-linkage. The same punches were used to place certain letters into the coinage dies of each of these different colonial issues.

As most of the gold coinage in circulation was from Portugal or Spain, it is likely that this Lima Style Doubloon was a type of pattern issue produced by Brasher to demonstrate the coinage possibilities to New York officials.

This specimen of the Lima Style Doubloon is one of two known, the other being an example that was sold in the famous Garrett Collection in 1981. This example was the first to be discovered, however, and has a continuous pedigree dating back to 1893: Ex Paris Collection (Scott Stamp & Coin Co., 12/1894), lot 813; James Ten Eyck (B. Max Mehl, May 1922), lot 375; John Work Garrett; B. Max Mehl; Col. E.H.R. Green; Col. Green Estate; Bern's Jewelers; John J. Ford, Jr. in partnership with Stack's; Hollinbeck Coin Company (Kagin Family); and finally to an Eastern collector.

John Work Garrett purchased this coin from the James Ten Eyck sale, and later sold it back to Mehl so that he might acquire the Newcomer specimen from Mehl. This specimen then went from Mehl to Col. Green, in response to a letter from Mr. Mehl. It was later acquired by Kagin in the 1950s. Kagin then placed the coin in a private collection after the Newcomer-Garrett specimen was sold in 1981. Our collector is now delighted to make this coin available to a new generation of collectors.

Featured consignments to the 2005 FUN Signature Sale include The Jerry Bagne Collection of Proof Morgan Dollars, The Paul Bolyard PCGS Registry Collection of Washington Quarters, The Richard Chouinard Collection of United States Coins, The Cincinnati Collection, The William and Harrison Hiatt Collection, The Dr. Hoffnagle Collection of Morgan Dollars, The Gene Holland Collection of United States Coins, Part II, The John C. Hugon Collection of Barber Coinage, The Kenny's Bennies PCGS Registry Set of Franklin Halves, The Krist Collection, The Lang Collection, The Wes Rasmussen Collection, The Larry Rausch Collection, The Paul Taylor Collection, The Tillamook Collection, and The Stan Zurawski Collection.

Catalogs for this auction will be available in mid-December. To purchase a catalog, please contact Nicole Jewell, 800-872-6467, Ext. 272, 3500 Maple Avenue, 17th Floor, Dallas, TX., 75219.

Images, descriptions, and prices realized from past auctions are available in the Permanent Auction Archives at the Heritage website, http://www.HeritageCoins.com

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