2016-10-01 Sat

An 1830 gold ducat of Munich issued under Ludwig I of Bavaria minted from gold mined in the Rhine River is up for sale at the Sincona Ag auction which is scheduled on 25th October. This Extremely Fine-Good Extremely Fine graded coin has an estimated price of 3,800 Swiss francs.

Germans struck many such coins using locally sourced metal. The coins are also known as “river gold” pieces which used alluvial gold found in placer deposits in rivers. Gold panning was a profitable business in the 19th century as 83 kilograms of gold was found in the Grand Duchy of Baden. The ducats featured the name of the rivers from where the gold came.

The tradition of including the name of the source of metal continued and names like Harz Mountains or other such mines have also been inscribed on coins.

Experts believe that major sources have been Rhine, the Danube and the Eder in North Hessen. The gold found in Rhine comes from the Swiss Alps.

The first German coin featuring the name of its gold origin is a half ducat from the Electors of the Palatinate minted in Heidelberg. On the reverse features the text EX AURO RHENI, which translates to “From gold of the Rhine.” These coins were minted from 1674 to 1863 for different cities and quantities.