400-Year-Old Coin Sold
In a world where fiscal volatility has become the norm, many are moving towards investing in commodities, particularly precious metals.
Gold therefore has been in demand over the recent past, thanks to the uncertainty lurking around in the international market, owing to the fragility of the global supply chain.
Although silver is not as in demand as yellow metal, some history and a bit of vintage quality can aid the chances of that piece of shiny metal fetching millions.
In a similar instance, recently a rare silver coin with connection to the American Revolution or what was stuck before the revolution. led to the end of British control and the birth of the American nation.
Sold For Rs 21 Crore
This silver coin, as per auctioneers Stacks and Bowers, was stuck in 1652, in the Northern US city of Boston, before the American revolution, during the British rule in the 13 colonies, in North America.
This coin was auctioned off and sold for a record-breaking USD 2.52 million or about Rs 21 crore, making it one of the highest amounts fetched for such an artefact with connection to a pre-revolution America.
The current value of the coin is estimated to be around USD 1 or around Rs 86-87.
This million-dollar action broke the previous record of another American coin, which had managed to fetch USD 6,46,250 or about Rs 5 crore, marking a difference of a mammoth USD 2 million.
This rare silver coin has a connection to the American Revolution that led to the end of British control and the birth of the American nation.
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The Business Of History
According to the auctioning platform, the sale of this New England penny marks the 58th time Stack’s Bowers Galleries has sold a coin at auction for a price of USD 1 million or more.
In addition to that, other USD 1+ million collectible items sold by the company also include the 1936 Nobel Peace Prize medal, which was won by Carlos Saavedra Lamas, foreign minister of the Argentine Republic.
The antique market is substantial. As per Global Market Insights, in 2023, antiques held the dominant market of USD 54.8 billion. In addition, this market is expected to reach USD 98.8 billion by 2032.
