Gold coins among collection up for bid to benefit the Hispanic Society of America
Bids are being accepted for a collection of nearly 38,000 coins and the proceeds, likely to climb as high as $35 million, will go to the Hispanic Society of America, according to The New York Times.
Once belonging to Archer M. Huntington, the collection includes a gold coin known as "30 Excelentes." It weighs almost five ounces and was minted in the 15th century, during the days of the cross-Atlantic voyages to the New World and under the leadership of Queen Ferdinand and Queen Isabella. It is believed to be that century's biggest coin that still is available.
The collection also includes at least 400 Roman gold coins that hail from throughout the history of Rome. Within that collection are gold coins that were struck during the rulership of Julius Caesar.
The Society's motive in selling the coins is to enhance the museum's collection, the executive director told the publication.
"We've not had, historically, an acquisition fund for museum collection," Mitchell A. Codding told the news source. "This will now give us a significant fund."
According to The Associated Press, the coin collection totals 37,895 pieces. Auction house Sotheby's announced last Thursday that bids by precious metal buyers will close on March 8.
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