Tuesday, 20th September 2005 (2760 views)

A rare gold coin known as a Quarter Eagle has fetched $253,000 at auction.

It was expected to sell for at least $150,000 and has gone to a private unnamed collector.

Prices started at $140,000 and rose in leaps of $5,000 and $10,000, reported the Associated Press.

The Quarter Eagle's previous owner was a descendent of Californian gold mine workers who also wished to remain anonymous.

Only 246 Quarter Eagles were made at the San Francisco Mint in 1854 and this coin is noted as the second finest surving example.

It contains an eighth of an ounce of gold making it worth much more than its weight in gold which, at current prices of $466 an ounce, would be $373.

 

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