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Rare Ecuadorian Gold Coin Sells for Record $2,800 on Ebay Live Auction


The 1928 1 Condor gold coin sold for a record price last month of just shy of $ 3,000, making it one of the fastest appreciating gold coins in the world. Before auctioning the coin, the ebay seller estimated its value between $ 1,000 and 1,200. Earlier this year, the rare Ecuadorian coin sold for about $ 1,250 in auctions and its estimated value was just $ 300 in 2005 (per NYINC Signature Auctions).

condor.jpg At just under 1/4 of an ounce of pure gold, the coin has definitely proven to be a superb rare coin investment. With gold down about 15% from its 2008 high, numismatists obviously think the Condor is more rare than previously believed. Just how rare is it, we ask? Here are our conclusions:

- There are currently no 1928 gold condors for sale on ebay.

- Heritage Auctions no longer has any left.

- No other major auctioneers or rare coin dealers have any.

- Steinberg's had just one for sale last week at exactly $ 1,450. It was removed from inventory.

- No one is exactly sure how many Condors were minted, but the mintage was extremely low.

- 1928 was the only year in which the coins were produced.

It's easy to see how the Condor has become one of the most coveted coins amongst numismatists this year and we only expect this sentiment to persist.







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