Kremnica ducat 1515

Kremnica ducat 1515

Kremnica ducat 1515, Gold Coin

Period: Renaissance

Country: Hungary

Ruler: Wladislaus II

Denomination: Ducat

Mint: Kremnica

Weight: 3,55 g

Quality: Uncirculated (vz-prägefrisch)

Auction house: Gorny&Mosch

Date: 8 March 2017

Starting price: 1.600 euros

Historical context

The city of Kremnica, today in central Eslovaquia, counts with one of the world’s oldest manufacturers: the Kremnica Mint. The Kremnica mint has been producing gold coins, known as the “Kremnica ducats”, since 1335. These ducats were very well known in Central Europe for centuries. The total amount of ducats issued throughout its history is estimated to be 21.5 million.

About the gold ducats, they are very well known to be firstly struck in Venice in 1284 and then reproduced in many countries (e.g. Hungary, Spain or the Netherlands) during several centuries. In the case of Hungary, they continued to strike ducats with 3.53 grams of 98.6% fine gold until 1915.

Market

Despite the huge amount of ducats minted in Kremnica, the one in the auction is a very rare and beautiful coin. Hence, even if its price is not so high it is difficult to do an estimation as not many similar coins have recently been in public sale. We can see this coin, clearly in a lower grade than the one now in the auction, whose hammer price was 2.000 euros in 2013; and this other specimen, which seems to be even more beautiful than the one now in the auction, whose hammer price was $4.000 in 2014. Other ducats of the same mint and the same king with a similar rarity are commonly sold for more than $4.000 when their quality is high (for example). Hence, my opinion is that a reasonable hammer price for the coin in auction is closer to $4.000 than to $2.000.

Description from the seller

Wladislaus II., 1490 – 1516. Goldgulden 1515 “K-G .”. Mzst. Kremnitz. Über der Mondsichel frontal thronende, gekrönte Gottesmutter mit ihrem Kind auf dem rechten Arm, in der Umschrift unten der polnische Adler ohne Wappen. / Stehender Hl. Ladislaus, gekrönt und nimbiert, mit Mantel, langstieliger Hellebarde und Reichsapfel mit Kreuz. Seitlich in den Feldern die Buchstaben “K” und “G”, zwischen seinen Füßen ein Punkt. 3,55 g. Lengyel 75/2/1515. Pohl L8­2. Huszar 771. Fr. 33.
RR! Gold! vz-prägefrisch

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