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One of the Most Coveted Gold Coins Sells for Big Bucks

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Last month at Chicago’s Heritage Auctions, all kinds of rare coins and currency were bought and sold. The most exceptional among them was a Newfoundland $2 gold coin so rare that the only other known example is owned by the British Museum. The 1865 coin sold for over $100,000 on April 10th. This coin isn’t just special for its beauty and rarity, however; it’s had quite a journey.

Before being auctioned off last month, the coin had passed through the hands of many prestigious coin collectors. The first recorded owner of the Newfoundland $2 coin was the famous coin collector, King Farouk of Egypt. The King Farouk Collection, which included the $2 gold coin, was sold in 1954. And this special coin was off to the next lucky collector.
The next known owner of this coin was Emery May Norweb. Norweb was the first-ever female member of the American Numismatic Society’s council. She and her husband Henry Norweb shared a passion for coin collecting. Together, they amassed an impressive collection of incredibly rare coins, the Newfoundland $2 gold coin among them. Mrs. Norweb hung on to the coin until the mid-’90s when the couple sold off their Canadian coins. The coin sold for nearly $40,000 when it was auctioned in 1996.

From then on, this sought-after coin remained part of the Prager Collection of Canadian Specimen Coins. That is, until it was sold last month to yet another lucky private owner. The details on the new owner haven’t been released to date.
The main thing that makes this coin so valuable and special is its uniqueness. Other London-minted, Newfoundland $2 gold coins were produced, but none exactly like this 1865 version. The pattern on the geometric inscription design of 1865 was particularly intricate, and featured a unique image of Queen Victoria. Which is undoubtedly why so many esteemed collectors wanted to possess it.
Bellevue Rare Coins specializes in gold buying and dealing in rare coins. We are a family-owned business located in Bellevue and Lynnwood. We also buy and sell silver, diamonds, currency and jewelry. Visit us for a free evaluation.

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