The 1787 Brasher Doubloon is one of the most famous and valuable coins in U.S. history. Created before the country had its own official coins, this gold coin represents America’s early financial struggles and its journey toward independence. In this article, we’ll explore why the Brasher Doubloon is such a significant piece of history.
Who Made the Brasher Doubloon?
The Brasher Doubloon was created by Ephraim Brasher, a goldsmith and silversmith from New York City, in 1787. At that time, the United States was still a young country without its own official currency. People used foreign coins like Spanish doubloons or British pounds for trading. Brasher noticed the need for a reliable, stable coin and took it upon himself to make one.
Design and Symbolism of the Coin
The Brasher Doubloon is full of important symbols. Here’s a breakdown of the key elements:
| Feature | Meaning |
|---|---|
| Eagle with olive branch & arrows | The eagle holds an olive branch for peace and arrows for defense, showing the new nation’s strength. |
| E Pluribus Unum | Latin for “Out of many, one,” symbolizing the unity of the 13 colonies to form one country. |
| Sun rising over mountains | Represents the hope for a bright future and growth for America. |
| Nova Eboraca Columbia Excelsior | Latin for “New York, America, ever higher,” reflecting Brasher’s pride in New York and his hope for progress. |
| EB Punch | Brasher’s initials stamped on the coin to guarantee its authenticity and quality. |
Why Is the Brasher Doubloon Important?
The Brasher Doubloon is important for several reasons:
- First American Gold Coin: Even though it wasn’t officially issued by the U.S. government, it’s one of the first gold coins made in what would become the United States.
- High Quality: Brasher made sure the coin met international standards, meaning it could be used for trade. Its value was around $15 at the time, which was a large sum of money in 1787.
- A Step Toward National Currency: The United States was struggling to establish a stable currency after gaining independence. Brasher’s efforts helped bridge the gap before the U.S. Mint began producing official coins.
Why Is It So Rare and Valuable?
The Brasher Doubloon is one of the rarest and most valuable coins ever made. Only a few of these coins were minted, and even fewer exist today. This rarity has made it highly sought after by collectors. Here’s a look at how valuable the Brasher Doubloon has become:
| Year | Sale Price | Auction Highlight |
|---|---|---|
| 2011 | $7.4 million | Sold at a major auction, setting a record at the time. |
| 2021 | $9.36 million | Broke the record for the most expensive gold coin sold at auction. |
These incredible prices show just how much value collectors place on this coin, both for its rarity and its historical importance.
What Is the Legacy of the Brasher Doubloon?
The Brasher Doubloon is not just a rare coin—it symbolizes the creativity and determination of early Americans like Ephraim Brasher. His decision to mint his own coins helped address the lack of reliable currency during the country’s early years. This effort paved the way for the creation of the U.S. Mint, which now produces the country’s official currency.
The Brasher Doubloon remains a symbol of the entrepreneurial spirit that helped shape the United States’ financial system. It represents the early challenges the country faced in establishing its independence and stability, making it a prized piece of American history.
Conclusion
The 1787 Brasher Doubloon is more than just a coin—it’s a historical artifact that tells the story of America’s financial beginnings. With its symbolic design, rare status, and historical significance, the Brasher Doubloon continues to be one of the most valuable and respected coins in U.S. history.
FAQ’s
What is the 1787 Brasher Doubloon?
The 1787 Brasher Doubloon is one of the first gold coins minted in the United States. Created by Ephraim Brasher, a New York goldsmith, it symbolizes early American efforts to establish reliable currency before the U.S. Mint was formed.
Why is the Brasher Doubloon so valuable?
The Brasher Doubloon is extremely rare, with only a few known to exist. Its historical significance as one of the first American gold coins and its unique design contribute to its high value, with some selling for millions at auction.
What do the symbols on the Brasher Doubloon mean?
The coin features an eagle representing strength and peace, along with the Latin phrase “E Pluribus Unum,” meaning “Out of many, one,” symbolizing the unity of the original thirteen colonies. These symbols reflect the aspirations of the newly independent United States.