Louis Eliasberg World Gold Coin Auction

April 20, 2005, 2:33 AM EDT

NEW YORK (AP) _ Rare world gold coins that had sat undisturbed for nearly a half-century in a Baltimore bank vault fetched more than $10 million in an international auction.

The draw was more than twice what had been estimated, said Christine Karstedt, president of American Numismatic Rarities of Wolfeboro, N.H., which conducted the auction.

About 2,500 world gold coins from Europe, Latin America and Asia were sold during the two-day sale Monday and Tuesday.

The highest price paid for a single world gold coin was $379,500, for a five-ounce world gold coin made in Venice around 1770 showing Jesus and St. Mark. The amount was a record for a non-ancient Italian world gold coin, the auctioneers said.

The earliest known round coin from Colombia , pressed in 1755 and depicting King Ferdinand VI of Spain , sold for $103,500. The oldest coin in the collection, a gold piece hammered by hand in Sicily in 413 B.C., sold for $5,060.

The world gold coins came from the collection of Louis E. Eliasberg Sr., a prominent Baltimore banker who began acquiring coins in 1934, soon after President Roosevelt's gold proclamation. Earlier auctions of gold coins from the collection have drawn more than $45 million.

Names of the winning bidders in this week's world gold coin auction were not disclosed. Prices included a 15 percent fee paid by winning bidders.

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