Jump to content



Photo

Rare U.S. nickel brings million$

illinois counterfeit authenticated holy grail of coins american numismatic assc.

  • Please log in to reply
7 replies to this topic

#1 Hum

Hum

    totally wAcKed

  • 60,857 posts
  • Joined: 05-October 03
  • Location: Odder Space
  • OS: Windows XP, 7

Posted 27 April 2013 - 14:06

Two men became the new proud owners of a rare 1913 Liberty Head nickel, which was hidden in a closet for 41 years after its owners were mistakenly told it was fake.

Larry Lee, 63, from Panama City, Florida., and Jeff Garrett, 54, from Lexington, Ky., paid $3,172,500 for the coin from Heritage Auctions in Schaumburg, Ill., on Thursday.

"I love rare coins," Lee told ABCNews.com. "For anyone connected to coins, this is like a dream come true." Lee and Garrett bought the coin in partnership.

Garrett, who was one of a team of experts brought in to authenticate the coin in 2003, said he'd been excited about the coin ever since he first handled it.

"We've both always dreamed about owning these coins," he said. "This is probably the greatest coin I've ever handled."

While five Liberty Head nickels are currently known to exist, the story of this particular coin added a new dimension to its allure for Lee and Garrett.

The coin's former owner, George Walton, died in a car accident in 1962. His family recovered the nickel from the car wreck but was told that the coin was counterfeit. Walton's sister kept the coin anyway, stowing it away in a closet with the label "It's not real."

Walton's sister's four children inherited the coin and brought it to auction this year, after learning more about its authenticity at the 2003 American Numismatic Association World's Fair of Money in Baltimore.

Cheryl Myers, one of the four heirs, told the the Associated Press, "The sad part is my mother had it for 30 years and she didn't know it."

more

Attached Images

  • nickel.jpg



#2 Growled

Growled

    Neowinian Senior

  • 41,508 posts
  • Joined: 17-December 08
  • Location: USA

Posted 28 April 2013 - 03:06

Cheryl Myers, one of the four heirs, told the the Associated Press, "The sad part is my mother had it for 30 years and she didn't know it."


That is sad.

#3 +techbeck

techbeck

    Neowinian Senior

  • 16,693 posts
  • Joined: 20-January 05

Posted 28 April 2013 - 03:17

Always get more than one opinion when it comes to appraising things.

#4 Torolol

Torolol

  • 2,540 posts
  • Joined: 24-November 12

Posted 28 April 2013 - 07:40

is really worth it to counterfeit coins where they still 'not rare' ?

#5 Dubstep Nixon

Dubstep Nixon

    Neowinian Senior

  • 6,808 posts
  • Joined: 08-August 05
  • Location: USA

Posted 28 April 2013 - 08:23

Must be really nice to be rich enough to pay 3 million dollars for a nickel.

#6 cork1958

cork1958

    Neowinian

  • 7,638 posts
  • Joined: 04-October 02

Posted 28 April 2013 - 09:21

Must be really nice to be rich enough to pay 3 million dollars for a nickel.


Have to spend money to make money!!

#7 OP Hum

Hum

    totally wAcKed

  • 60,857 posts
  • Joined: 05-October 03
  • Location: Odder Space
  • OS: Windows XP, 7

Posted 28 April 2013 - 16:31

I can think of much better things to buy with $3 million. :s

#8 DocM

DocM

    Neowinian Senior

  • 15,675 posts
  • Joined: 31-July 10
  • Location: Michigan

Posted 29 April 2013 - 08:28

Good investment. In a few years that $3M will probably be worth $5M+. Better than stocks or CD's.

I have a 1909 S-VDB* Lincoln penny that's worth >$2,000.

* minted in San Francisco with its 'S' along with the intitials of its designer Victor David Brenner. A VDB penny is on the camera calibration target of the Curiosity Mars rover.



Click here to login or here to register to remove this ad, it's free!