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Rare penny sells for $1.15 million

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Total freedom :: General Discussion :: Money Matters

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Rare penny sells for $1.15 million Empty Rare penny sells for $1.15 million

Post  Dogmatic Wed Apr 25, 2012 4:56 pm

SCHAUMBURG, Ill. (AP) — When is a penny worth $1.15 million? When it is a rare experimental penny minted in 1792.

The unusual coin was auctioned off Thursday at the Renaissance Schaumburg Convention Center in suburban Chicago.

Officials with Heritage Auctions say Kevin Lipton of Beverly Hills, Calif., bought the penny on behalf of a group of unnamed investors. The winning bid was $1 million, but the investors also must pay the auction house's 15 percent commission.

Heritage Executive Vice President Todd Imhoff says the coin is made with a copper ring that surrounds a small plug of silver, which was added to make the penny heavier.

Imhof says the coin was never actually put into circulation and only 14 examples of the coin are known to exist.
Rare penny sells for $1.15 million Penny10
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Rare penny sells for $1.15 million Empty Re: Rare penny sells for $1.15 million

Post  FREE SPEECH Wed Apr 25, 2012 5:32 pm

Coin collectors ? their a weird bunch
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Rare penny sells for $1.15 million Empty Re: Rare penny sells for $1.15 million

Post  Parasite Thu Apr 26, 2012 12:28 am

That's about $1million above spot.
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Post  Dogmatic Mon Apr 30, 2012 4:17 pm

Why do you predict sub $25 by the end of May?

If you are right I had better save some $$ now.
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Post  Parasite Mon Apr 30, 2012 4:22 pm

Dogmatic wrote:Why do you predict sub $25 by the end of May?

If you are right I had better save some $$ now.

Not me buddy, Melbrad guy. Can't even spell his anme right.never met him, never spoke to him, never PM'd him. Just saw this and thought I'd copy it.

I hate predictions.
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Post  Dogmatic Mon Apr 30, 2012 4:38 pm

FFS, I was going to re mortgage the house and fill the spare room with 30kg bars
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