Hundreds of historic gold coins have been uncovered by building workers in Albany, on West Australia's south coast.
Albany police confirmed the reports that workers doing excavations on Stirling Terrace had found around 300 gold sovereigns buried under concrete.
Initial reports said the sovereigns dated back to the year 1800, and were worth more than A$500,000 (RM1.6million).
Albany was the first settlement in WA, established in December 1826, even before the Swan River colony which led to the Perth's early development.
A replica of the historic brig - a sailing vessel with two square-rigged masts - named Amity, the first ship to arrive in the town, is one of the main tourist attractions less than 1km away from where the coins were uncovered.
The town's The Rare Coin Company managing director Rob Jackman queried those claims, saying sovereigns were a common coin and more importantly, they weren't in production until 1817.
Jackman, who has 30 years experience with rare coins, said he had not yet seen the coins but queried the initial report and their estimated value.
"They didn't make a sovereign in 1800," he said. "They're very, very common coins."
"Until we see them, we would just estimate their value at around A$320 (RM962) to A$330 (RM1,059) per coin, the gold bullion price.
"They would have to be in very top condition for that price (A$500,000), but if they've been buried, they're likely to be damaged. It seems exaggerated."
However Jackman said the discovery was significant and he had never heard of an antique coin find of that magnitude in Albany before.
Source: news.com.au
Warm Regard, Sara Pandian
Albany police confirmed the reports that workers doing excavations on Stirling Terrace had found around 300 gold sovereigns buried under concrete.
Initial reports said the sovereigns dated back to the year 1800, and were worth more than A$500,000 (RM1.6million).
Albany was the first settlement in WA, established in December 1826, even before the Swan River colony which led to the Perth's early development.
Gold sovereigns dating back to 1800 have been unearthed in Albany
The town's The Rare Coin Company managing director Rob Jackman queried those claims, saying sovereigns were a common coin and more importantly, they weren't in production until 1817.
Jackman, who has 30 years experience with rare coins, said he had not yet seen the coins but queried the initial report and their estimated value.
"They didn't make a sovereign in 1800," he said. "They're very, very common coins."
"Until we see them, we would just estimate their value at around A$320 (RM962) to A$330 (RM1,059) per coin, the gold bullion price.
"They would have to be in very top condition for that price (A$500,000), but if they've been buried, they're likely to be damaged. It seems exaggerated."
However Jackman said the discovery was significant and he had never heard of an antique coin find of that magnitude in Albany before.
Source: news.com.au
Warm Regard, Sara Pandian
1 comment:
Hi,
I have been researching a lot on Gold and there is a website i found called goldstandard. There is talk about taking away paper money completely away and using gold coins instead. If you would like to read about it here is a link to the site...seems pretty interesting.
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