Gustav I coronation coin brings $240,000 in Kuenker's spectacular auction series

paulfrasercollectibles

2015-06-26 12:35:18

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Gustav I coronation coin brings $240,000 in Kuenker's spectacular auction series

The Julius Hagander Collection of Sweden featured the Gustav Vasa coin, which tripled its estimate

Kuenker coins has completed its stunning series of sales offering Ancient, Medieval, German, Swedish, Russian and Chinese rare coins through the last week of September.

Two sections of major private collections were on offer: the first part of the Franz Josef collection and the second section of The Julius Hagander Collection of Sweden and its Possessions.

We focused in on one piece in particular from the Hagander Collection: lot 1, from the reign of Gustav I of Sweden, also known as Gustav Vasa (1521-1560).

In Swedish history Gustav has been labeled the founder of modern Sweden, and the "father of the nation", though the nickname belies his ruthlessness.

Gustav Vasa Sweden coinRuler of Sweden and the Hagander collection: the Gustav Vasa Sweden coin

The coin, minted in Stockholm, marks his 1528 coronation at the Cathedral of Uppsala. The triumphant and armoured king faces outwards with a folded down coat. In his right hand is an uplifted sword and in his left hand the orb.

Between his feet is a shield with the emblem of a grain sheaf. The coin is of the utmost rarity - a very attractive specimen with a beautiful patina.

Gustav had been king for five years before his coronation, putting it off because of the cost given Sweden parlous finances at the time. His great successes were based on his building of those finances to make his regime one of the richest in Europe.

The coronation coin had been expected to sell for up to 50,000 ($72,100), but numismatic passion and Swedish nationalism kicked in and easily tripled the price, resulting in a final bid of 180,000 ($239,700).

In total the Hagander brought 111% more than its total estimate (that is, it more than doubled expectations) reaching 1.7m ($2.26m).

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