A private collector bought a rare $10 gold coin, minted as a diplomatic gift for United States President Andrew Jackson when he was on his trade missions to Asia. The collector was brave enough to pay $5 million for the rare coin.

Although being dated 1804, the Eagle coin was, in fact, struck later in 1834 at the Philadelphia Mint. It represents one of four specials coins that were able to survive till nowadays.

Both buyer and seller are unknown; they have chosen to remain anonymous. However, David Albanese, who is the president of Albanese Rare Coins and who was the one to hold the sale, mentioned that both collectors are from northeaster part of the United States. He added that the seller and buyer started collecting coins since they were young boys.

"It is one of the rare U.S. coins out there. They are neat pieces in that in one sense they are not really a coin made in 1804, even though it is dated 1804 ... it is sort of a created coin," outlined Douglas Mudd, who works as the curator of the American Numismatic Association Museum, located in Colorado Springs, Colo.

The four survived $10 rare coins, minted in 1834, are currently owned by private collectors. One of them, according to Mudd, can be found in the Colorado museum. At present this coin is on a 25-year loan.

The $5 million coin is in perfect condition. It illustrates "Miss Liberty", wearing a turban and surrounded by thirteen stars, which represent the first 13 states. "Liberty" is located at the top of the coin while "1804" at its bottom. Coin's reverse has an eagle with its wings spread. The eagle is surrounded by words "United States of America."

It is worth mentioning that $5 million is the highest price ever paid for such coin. Thus, Dean Albanese mentioned that the coin registered a record as the second most valuable coin in the world, sharing its success with a 1913 nickel, a coin sold this year. Today, the most valuable coin in the world is considered to be a 1933 Saint-Gaudens gold Double Eagle. This gold coin was acquired for $7.59 million.

According to Dean Albanese, the Eagle coin is considered to be "the King of Eagles", due to its high-grade condition, as well as its rich history.

Interesting to note that the Eagle gold coin was, in fact, the first sample from a proof set, which was commissioned by Andrew Jackson, used as a presentation example for the representatives of other countries. This piece of history was stated by Dean Albanese, who works on a book dedicated to the 1804 Eagles.

Continuing his historical overview Dean Albanese mentioned that U.S. treasury had stopped issuing the $10 Eagle coins back in 1804, and when Andrew Jackson in 1934 asked for the proof sets, the treasury had to use dies dated 1804.

Every denomination of U.S. coin was included in the proof sets, which were supposed to be given to the leaders of Japan, China, Siam, and Muscat. However, only two proof sets reached their main destination, because the emissary carrying the other two died of dysentery.

The Eagle coin was found in 1960s. It passed through the hands of three private owners. Before 1960s the history of the coin remains unknown.

In addition to the record-breaking purchase the anonymous buyer also acquired one of three 1838 ten dollar denomination proof gold coins for $1.7 million.