Rare golden 'doubloon' which was one of America's first dollar coins sells for $7.4million

Rare golden 'doubloon' which was one of America's first dollar coins sells for $7.4million - Special golden doubloon one of only seven ever made - 1787 coin thought to be first ever struck by the U.S.

Rarity: The 1787 doubloon is stamped with Ephraim Brasher's unique 'EB' hallmark and is one of only seven ever made

An incredibly rare 200-year-old golden 'doubloon' has sold for $7.4million, the highest price ever paid for a gold coin.

The 'Brasher' 1787 doubloon contains 26.66g of gold and is considered the first American-made gold coin denominated in dollars.

Its name comes from Ephraim Brasher, the goldsmith and neighbour of George Washington who minted the coin and whose trademark stamp was taken as proof of a coin's weight and fineness.

As the U.S. Mint in Philadelphia did not begin striking coins until the 1790s, the doubloon's huge historical significance saw it sell for the record sum.

The coin is marked with Brasher's 'EB' hallmark, which the highly-regarded goldsmith only stamped on his own coins.

He mainly struck copper coins from 1787 onwards, but also put his unique stamp on a small number of gold coins.

It is thought the already-extremely rare coin has even greater significance as records show that only seven golden doubloons were made by Brasher.

All the other six each have the 'EB' stamp on the eagle's wing, whereas the latest coin to sell is the only one with the 'EB' stamp on the eagle's breast, which may explain the world record fee.

The latest auction has smashed the previous record for a similar sale. where three varieties of Brasher doubloons were sold for a combined $6.1million in 2005.

Trademark: The 'EB' stamp was Brasher's hallmark when he began minting coins in 1787

The coins fetched $2,415,000 for the New York Style EB Punch on Wing NGC AU55, $2,990,000 for the unique New York Style EB Punch on Breast NGC XF45 and $690,000 for the rare but less iconic Lima Style Doubloon.

Blanchard and Co, the New Orleans-based coin and precious metals company that brokered the deal, said the doubloon was purchased by a Wall Street investment firm. Identities of the buyer and seller were not disclosed.

Worth about $15 (£10) when it was minted, the gold value today would be more than $1,500 (£965). ( dailymail.co.uk )