Monday, 31st October 2005 (4252 views)

A Boston Red Sox executive's gold coin collection is expected to go for in excess of $15 million when it is auctioned off on Thursday.

The baseball club's vice chairman, Philip M Morse, is auctioning off 691 coins, two of which are expected to set record prices of $2 million each.

According to Greg Rohan, president of Texas-based Heritage Galleries and Auctioneers, the auction house is anticipating strong demand.

"With a conservative pre-sale estimate of at least $15 million, this will be the world's most valuable one-owner, single-session rare coin auction," he commented.

Among the collection is a gold double-eagle issued in 1907 and struck seven times to achieve a high-relief effect.

Renowned sculptor Augustus Saint-Gaudens created most of the coins on the orders of President Theodore Roosevelt.

 

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