Record Price For Perfect $50 Gold Eagle A 1993 $50 denomination gold American Eagle, struck at the West Point Facility of the United States Mint and graded Proof 70, sold for a record of nearly $37,000 in a Teletrade auction.
News-Antique.com - Nov 30,-0001 - (Irvine, CA) -- One of only two known 1993-W one-ounce gold American Eagles graded a perfect PCGS Proof-70 deep cameo sold for a record $36,960 in the Teletrade® Premier Sale on April 23, 2006.
"With only two 1993 West Point Mint Eagles graded Proof-70, this is the rarest one-ounce gold Eagle in the Professional Coin Grading Service Population Report. We had strong bids from 15 different people who wanted this coin, and the auction set a record price for any one-ounce American Eagle," said Ian Russell, President of Teletrade® (www.Teletrade.com).
The pre-sale estimate was $15,000 or more. The $36,960 winning bid paid by the anonymous collector includes a 12 percent buyer’s fee.
This is the third record price set in recent Teletrade® auctions for certified, modern coins: $16,240 for a 1971-S Eisenhower Dollar PF-70 DCAM; $10,300 for a 1984-P Olympic gold $10 PF-70 DCAM; and $7,840 for 2001-W one-ounce gold Eagle PF-70 DCAM.
"Earlier in April, we also had a winning bid of $54,880 for a 1927-S Saint-Gaudens Double Eagle graded PCGS MS-63," said Russell. "Obviously, Teletrade® attracts buyers and sellers of classic collector coins as well as modern, certified rarities."
Two other perfect-grade modern coins will be offered in the Teletrade auction that closes on May 7: a 1998-W $50 gold Eagle PCGS PF-70 DCAM with a population of only four, and a 2004-W $50 platinum Statue of Liberty, also graded PCGS PF-70 DCAM, with a population of five.
Founded in 1986, Teletrade® is America's largest fully-automated telephone and Internet auction company for certified coins. Teletrade®, an Escala Group company, has over 150,000 registered users and is one of the most frequently visited coin-related websites on the Internet. Auctions are held every Sunday, Monday and Wednesday. For additional information, visit www.Teletrade.com, or call toll-free (800) 949-2646.