Philosophy
A once-cent copper coin from the earliest days of the U.S. Mint in 1793 has sold for a record $1.38 million at a Florida auction.
James Halperin of Texas-based Heritage Auctions told The Associated Press on Saturday that the sale was "the most a United States copper coin has ever sold for at auction." The coin was made at the Mint in Philadelphia in 1793, the first year that the U.S. made its own coins.
Heritage officials said in a news release that the name of the buyer was not revealed but that he was "a major collector." One of the coin's earliest owners was a well-known Baltimore banker, Louis E. Eliasberg, Sr.
"Mr. Eliasberg was nicknamed, 'the king of coins' because before his death in 1976 he assembled a collection that consisted of at least one example of every coin ever made at the United States Mint, a feat never duplicated," Halperin said in the news release.
The final bid for the coin last week was one of the largest sales at the Florida United Numismatists coin show and annual convention, which runs through Sunday. Halperin said a five-dollar gold piece from 1829 also was sold.
Halperin said there remain a few hundred 1793 coins in different condition, but that the one auctioned off Wednesday night is rare because it wasn't in circulation.
Officials say it shows no wear on its lettering, its Lady Liberty face or the chain of 13 linking rings on its back.
"This coin is known as a 'Chain Cent' because the central design on the back is a chain of 13 linking rings. It represented the solidarity of the 13 original colonies, but some critics claimed the chain was symbolic of slavery, and the design was quickly changed from rings to a wreath," Halperin said in the news release.
- Psst...wanna Buy A Quarter For $29.95?
Heads or bones? Invisible during the day, the Pachyrhinosaurus' skeleton glows in the dark."Canada's newest coin glows in the dark"These collectible quarters featuring a dinosaur on one side will light up your pocket, but they cost $29.95 apiece.byTim...
- Metal Vs Paper...the U. S. $1 Bill
"Is This the Beginning of the End for the Dollar Bill?" by Josh Sanburn October 25th, 2011 Time Remember the $1 coin? Probably not, considering none of us really use it. That’s why there’s about $1 billion worth of them sitting in the Federal Reserve’s...
- Dump The Dollar Bill?
"Coin of the realm" by Michael McGough November 23rd, 2010 Los Angeles Times At a time when consumers pay for candy bars and cigarettes with debit cards, it might seem quaint to debate whether the dollar bill should be retired from U.S. currency. Yet...
- 1894-s Dime
The extremely rare 1894-S dime is certainly worth more than the accumulated metals of silver [90%] and copper [10%] that weighs in at about +/- 2.5 grams. The last auction [December 2000] noted in The Numismatist fetched $431,250 [Eliasberg specimen]....
- "penny" Poll
Should the penny be dropped from circulation? No...2 Yes...4 Okay, they are a nuisance and have little intrinsic value...not copper anymore. "A penny is the lowest form of American currency, worth only one cent, and is popularly believed to be made solely...
Philosophy
1.38 million:1...a 1793 penny
"1793 penny fetches $1.38M at U.S. auction"
Jamuary 8th, 2012
USA TODAY
Jamuary 8th, 2012
USA TODAY
A once-cent copper coin from the earliest days of the U.S. Mint in 1793 has sold for a record $1.38 million at a Florida auction.
James Halperin of Texas-based Heritage Auctions told The Associated Press on Saturday that the sale was "the most a United States copper coin has ever sold for at auction." The coin was made at the Mint in Philadelphia in 1793, the first year that the U.S. made its own coins.
Heritage officials said in a news release that the name of the buyer was not revealed but that he was "a major collector." One of the coin's earliest owners was a well-known Baltimore banker, Louis E. Eliasberg, Sr.
"Mr. Eliasberg was nicknamed, 'the king of coins' because before his death in 1976 he assembled a collection that consisted of at least one example of every coin ever made at the United States Mint, a feat never duplicated," Halperin said in the news release.
The final bid for the coin last week was one of the largest sales at the Florida United Numismatists coin show and annual convention, which runs through Sunday. Halperin said a five-dollar gold piece from 1829 also was sold.
Halperin said there remain a few hundred 1793 coins in different condition, but that the one auctioned off Wednesday night is rare because it wasn't in circulation.
Officials say it shows no wear on its lettering, its Lady Liberty face or the chain of 13 linking rings on its back.
"This coin is known as a 'Chain Cent' because the central design on the back is a chain of 13 linking rings. It represented the solidarity of the 13 original colonies, but some critics claimed the chain was symbolic of slavery, and the design was quickly changed from rings to a wreath," Halperin said in the news release.
- Psst...wanna Buy A Quarter For $29.95?
Heads or bones? Invisible during the day, the Pachyrhinosaurus' skeleton glows in the dark."Canada's newest coin glows in the dark"These collectible quarters featuring a dinosaur on one side will light up your pocket, but they cost $29.95 apiece.byTim...
- Metal Vs Paper...the U. S. $1 Bill
"Is This the Beginning of the End for the Dollar Bill?" by Josh Sanburn October 25th, 2011 Time Remember the $1 coin? Probably not, considering none of us really use it. That’s why there’s about $1 billion worth of them sitting in the Federal Reserve’s...
- Dump The Dollar Bill?
"Coin of the realm" by Michael McGough November 23rd, 2010 Los Angeles Times At a time when consumers pay for candy bars and cigarettes with debit cards, it might seem quaint to debate whether the dollar bill should be retired from U.S. currency. Yet...
- 1894-s Dime
The extremely rare 1894-S dime is certainly worth more than the accumulated metals of silver [90%] and copper [10%] that weighs in at about +/- 2.5 grams. The last auction [December 2000] noted in The Numismatist fetched $431,250 [Eliasberg specimen]....
- "penny" Poll
Should the penny be dropped from circulation? No...2 Yes...4 Okay, they are a nuisance and have little intrinsic value...not copper anymore. "A penny is the lowest form of American currency, worth only one cent, and is popularly believed to be made solely...