Historic Gold Coin Set to Break European Auction Records

A rare gold coin from 1609, minted for Spain's King Philip III, is anticipated to set a new record as Europe's most valuable coin at an auction in Switzerland. Starting at 2 million Swiss francs, this 339-gram coin was crafted from New World gold to display regal power.

A noteworthy gold coin minted in 1609 for Spain's King Philip III is poised to shatter records as it goes up for auction in Switzerland on Monday, potentially becoming Europe's most valuable coin.

The extraordinary 339-gram coin, with an opening bid of 2 million Swiss francs ($2.48 million), is expected to set a new benchmark, confirms the Geneva-based auction house, Numismatica Genevensis SA. 'This coin will certainly break the record of the most expensive European coin of all time,' stated Frank Baldacci, the auction house's director.

Originating in Segovia, central Spain, the coin, known as the Centen or 100 escudos, was minted using gold from the New World's conquests. Over the centuries, the piece traveled the globe, resurfacing in the U.S. around 1950 before changing hands multiple times. Interest from buyers in the U.S., Europe, and the Middle East, along with institutions seeking a 'trophy asset,' has been confirmed.

(With inputs from agencies.)