A rare Spanish gold coin minted in 1609 has set a new European auction record after selling for 2,817,500 Swiss francs, equivalent to about $3.49 million, at a sale in Geneva. The large-format piece, weighing more than 339 grams of gold, had been lost for centuries before resurfacing and drawing intense interest from collectors.

The coin, known as a 100-escudo issue, was struck during the reign of a Spanish monarch in the early 17th century and is considered a unique specimen. It had been offered with a starting price of 2,000,000 Swiss francs, or roughly $2.48 million, underscoring expectations of strong bidding even before the sale began.

A Unique 339-Gram Gold Piece

The record-breaking coin weighs approximately 339.35 grams, placing it among the largest gold coins ever produced in its era. Its face value of 100 escudos reflects its status as a high-denomination piece associated with significant financial and political power at the time it was minted.

Struck in Segovia in 1609, the coin’s rarity is increased by its survival in exceptional condition despite the passage of more than four centuries. The combination of weight, gold purity, and historical importance contributed directly to its high pre-sale estimate and final hammer price.

From Centuries Lost to Global Auction Stage

For centuries, the coin was effectively absent from public view, with no confirmed trace in modern collections or institutional holdings. Its reappearance transformed it from an obscure historical reference into a headline object in the numismatic market.

Once its existence and authenticity were documented, the piece was brought to auction in Geneva, a recognized hub for high-value collectible sales, including rare coins, jewelry, and other portable assets. Its journey from long-term obscurity to a public auction room highlighted how rediscovered artifacts can rapidly reshape market benchmarks.

Geneva Sale Confirms Strong Demand for Rarity

The auction result demonstrates sustained demand for singular historical numismatic items, particularly those combining gold content with clear provenance and uniqueness. The coin’s status as the first 100-escudo issue of its type, alongside its singular survival, positioned it as a once-in-a-generation opportunity for high-end collectors.

The final price of 2,817,500 Swiss francs significantly exceeded its opening level and aligned with expectations that the piece could command a figure near or above its initial 2,000,000-franc estimate. The sale confirms that the upper tier of the collector market remains willing to commit substantial capital when an item of unmistakable rarity comes to market.

Historical Significance of the 1609 Issue

The year 1609 places the coin within a period of extensive imperial activity, when Spanish gold played a central role in European and transatlantic finance. A 100-escudo coin of such weight and scale illustrates the magnitude of state-level monetary instruments in circulation among ruling elites and key institutions of the time.

Minted in Segovia, a historical center of coin production, the piece reflects the technical capabilities of early 17th-century minting operations. Its preservation offers a direct material link to the economic infrastructure that supported state policies, military expenditures, and international trade networks during that era.

Technical and Artistic Features Drive Value

Beyond its metal content, the coin’s design and production quality contribute significantly to its desirability. Large gold issues from this period often exhibit detailed iconography, carefully executed inscriptions, and precise control over weight and diameter, all characteristics closely scrutinized by specialists and advanced collectors.

The 339.35-gram weight underscores the technical achievement of striking such a large planchet with consistent thickness and legible detail. Factors such as strike quality, edge integrity, and surface preservation would have been carefully evaluated during cataloging and inspection, feeding into the valuation that underpinned the auction estimate and result.

Rediscovery and Market Impact

The emergence of a unique 1609 100-escudo coin has implications beyond a single sale, as it can influence how comparable pieces—if any surface—are evaluated and priced. A new record for a European auction reinforces the perception that historically important gold issues occupy a distinct, high-value segment of the collectible asset landscape.

Collectors and market observers often track such benchmark results to gauge trends in demand, particularly for early modern gold coinage. The successful sale of this coin at a level above its opening price provides a clear signal that the upper echelon of numismatics remains robust, even as broader economic conditions fluctuate.

Record Price in European Context

The sale sets a new record specifically for auctions held in Europe, positioning Geneva once again as a pivotal venue for high-profile numismatic transactions. This geographic detail underscores how regional auction centers compete to secure rare consignments that can draw global bidding and media attention.

Achieving a record within the European auction framework may encourage future consignors of rare coins and precious-metal artifacts to consider similar venues for high-value offerings. It also highlights the willingness of buyers to participate in cross-border transactions for pieces of exceptional quality and rarity.

Reflection of Broader Interest in Historical Gold

The premium realized for the 1609 coin is consistent with broader interest in historical gold as both a collectible and a store of value. Items that combine bullion content with documented historical narratives tend to attract buyers who evaluate both numismatic significance and long-term preservation of capital.

The coin’s documented weight, gold composition, and age provide a tangible basis for valuation, while its uniqueness and backstory introduce elements of scarcity that extend beyond metal markets. This dual character sets such artifacts apart from standard investment gold products.

Next Steps for the Record-Breaking Coin

Following the Geneva auction, the 1609 100-escudo coin will now transition from the catalog and display phase into long-term private or institutional custody. Standard post-sale procedures will include settlement, transfer of ownership, and arrangements for secure storage and insurance.

Further public appearances of the coin, whether in exhibitions, future sales, or specialized studies, will depend on decisions by its new owner. For now, the confirmed auction result and recorded specifications ensure that the piece is firmly established as a reference point in the documented history of high-value numismatic transactions in Europe.