High-end auctions are famous for having rare collectibles, but sometimes the story behind the items up for bid can be as interesting as the item itself. This was the case recently in Paris, where a collection of ultra-rare gold coins was sold for nearly $3.5 million. That part isn’t unusual, but the coin’s origin story defies belief. They were found hidden in the walls of their former owner’s home.
Paris-based auction house, Beaussant Lefèvre & Associates, conducted the sale, according to CNN. The more details they provided about the coin’s history, the more unbelievable the story became. The coin’s original owner was a man named Paul Narce. By all accounts, he was a quiet and unassuming man, and he kept his passion for coin collecting secret from all but a few people in his life.
Don’t Miss:
Some of the oldest coins in Narce’s collection are from the ancient Kingdom of Macedonia and could date as far back as 323 B.C. Narce also had a complete set of coins from French monarchs, Louis XIV, Louis XV, and Louis XVI. It’s the kind of coin collection you would expect to be owned by a wealthy French businessman who travelled the world to find them, but that was not Narce’s story.
“Narce, who lived a modest life and didn’t see a lot of the world, spent all of his money on his collection,” coin expert Thierry Parsy in a public statement advertising the sale. He spent much of his life amassing the collection, which Parsy described as “exceptional both in number, with more than 1,000 pieces, as well as the rarities it contains.” Parsy also said that many of Narce’s coins were several hundred years old.
Today’s Best Finance Deals
According to Parsy, Narce died without any heirs, and only a few people in his inner circle knew he collected coins, and Parsy told CNN that none of them had any idea where he kept the coins. Complicating matters further, Narce checked into a managed care facility about a year before he died. His coins “could have remained undiscovered forever,” said Parsy.
Trending: Maximize saving for your retirement and cut down on taxes: Schedule your free call with a financial advisor to start your financial journey – no cost, no obligation.
If it weren’t for the efforts of an enterprising notary in the small Southwestern French village where Narce lived, Narce’s collection may have never been found. According to CNN, the notary searched Narce’s former home and found the coin collection in a storeroom. Narce had tucked the coins away in between the walls of the storeroom and behind a painting hanging on the wall. It’s quite obvious Narce put a very high premium on security and being secretive.
CNN also said that old coins weren’t the only currency Narce collected. The notary also found a trove of 20-franc gold coins. Narce may have been a private man, but his instincts about collecting gold coins proved to be spot on. Gold prices have been skyrocketing for much of the year. CNN reported that the $3.5 million final hammer price was significantly higher than pre-auction estimates and the current premium on gold could explain the high price. It’s too bad Narce didn’t get to enjoy the profits his coin collection generated..
Read Next:
Image: Shutterstock
