In major auction, 370-year-old Colonial New England coin fetches $350,000

An ancient-by-American-standards coin netted a staggering $350,000 at auction this week, underscoring the centuries-old currency’s notable place in the financial history of America.

The coin, minted in Boston in 1652, is thought to be among the last few dozen existing, having been produced in the earliest days of the mint’s existence.

The mint was launched in response to a shortage of coins from Europe, the chief currency of the American colonies in their earliest days. King Charles II eventually shuttered the mint, dubbing it treasonous. 

Auctioneers had originally estimated that the coin would fetch $300,000 at bidding. The auction house, Morton & Eden Ltd., called the coin “the finest known example of the first coin struck in what is now the U.S.A.