1899 Nicholas II 10 roubles coin up 225% at Heritage Auctions



2015-06-26 13:08:06

1899 Nicholas II 10 roubles coin up 225% at Heritage Auctions

A highly-graded 1899 Nicholas II 10 roubles coin saw a huge leap in value from 2012

In the last of its January coin sales, Heritage Auctions has sold an 1899 Nicholas II gold 10 roubles coin with impressive results.

1899 10 roubles MS64 The 10 roubles were once faked using platinum, which is now worth more than the gold content of the coin

The auction, entitled NYINC World Coins, was held on January 15-16 in Dallas. The 10 roubles coin sold as top lot, achieving $8,225. It is graded MS64, with full lustre and only a few small marks evident in the fields.

Prior to the sale, the highest price achieved at Heritage Auctions for the coin was $2,530, which was seen at its May 2012 auction by another MS64 graded example. The sale represents a 225% increase in value for the 10 roubles.

1899 10 roubles coin The coin far outsold past examples of the same grade, showing a distinct rise in value

Russian gold coins such as the 10 roubles are notorious as some of the most faked rare coins on the current market, with many internet auction sites flooded with counterfeit copies.

These are usually of a very high standard, although fakes are usually lighter than genuine examples (8.4g instead of 8.6g) and have the mint master mark AP or AR, which stands for Alexander Redko, who did not join the mint until 1901.

Some of the early fake examples were made in platinum, which at the time was far cheaper than gold, but could now be worth a significant sum due to its melt value.

The sale was preceded by two other coin auctions at Heritage, which saw a 1792 half disme specimen sell for $1.4m and an 1887 Victoria gold crown achieve $235,000.

Paul Fraser Collectibles has a fantastic selection of gold coins currently available, led by a 1509 gold double ducat from Italy, which is one of just two sound examples.

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