Gold Medal Mexico Auctioned in Ponterio And Asssociates

Thursday, 21st January 2010

A rare gold medal from Mexico sold for more than £9,000 at an auction earlier this month.

The gold item was auctioned at the Ponterio and Associates January 2010 New York International Numismatic Convention for $14,950 (£9,227), surpassing its pre-sale estimate of $7,000-£10,000.

Inscribed upon the gold item is a depiction of a crowned eagle with a snake and on the obverse is a seven-line text inscription, denoting the date that the gold coin was minted, 1821.

The total sale of items at the auction on January 8th and 9th, including ancient coins, international coins, paper money and decorations amassed to more than £2.5 million.

Rick Ponterio, executive vice-president of Bowers and Merena Auctions, said that bidding was very strong "with many coins selling for noteworthy prices".

Hrishi Modi, director of private wealth at ASK Wealth Advisors, recently told The Economic Times that the market for rare gold coins could prove to be more popular with investors in the coming years.

Source : gold.org