Rare 1792 Silver Cent Sells for $1.15 Million

This 1792 Silver Center cent, one of fewer than 20 examples known, brought $1.15 million including the 15 percent buyer’s fee during Heritage Auctions’ April 18 to 20 sale in Schaumburg, Ill. Images courtesy of HeritageAuctions.com

A rare 1792 Silver Center Cent recently sold at auction for $1.15 million dollars.

The coin, an experimental prototype called “Judd 1,” is more than 200 years old, made with a copper ring that surrounds a small plug of silver, which was added to make the cent heavier. The silver plug was added to make the copper coin meet weight standards as established by the U.S. Mint.

The obverse features Lady Liberty facing right, with her hair blowing in the wind. The reverse has a wreath of laurel branches around the words “one cent.” The U.S. Mint was established in 1792, so the Silver Center Cent is from the first year of coins produced under the new U.S. Mint.

The auction took place last Thursday (4-19) at the Renaissance Schaumberg Convention Center, just outside of Chicago, Illinois. Beverly Hills, California’s Kevin Lipton bought the coin on behalf of a group of unnamed investors. Lipton’s winning bid was for a flat $1 million, but the investors must also pay the auction house’s 15-percent commission, bringing the total to $1.15 million dollars.

Todd Imhof, vice president of Heritage Auctions, explains the coin in question was never actually put into circulation, and that there are only 14 examples of this coin that are known to exist. “This particular coin was carefully preserved from owner-to-owner over the past 220 years, and remains in mint state condition,” explains Imhof. “It’s been illustrated in several prominent numismatic reference books.”

Another thing that makes this coin unique is that it doesn’t have “In God We Trust”  printed on the reverse, like so many other coins. Instead, the coin says “Liberty Parent of Science & Industry.”

“At the time, industry and science reflected an enlightenment mindset,” says Imhof. “People believed freedom of thought and industrial growth would bind and unify the new country, not religion or God.”

This “million-dollar coin” is not alone in the price it fetched, nor is it the most expensive coin—ABC News reports that a similar coin sold more than a year ago for close to $3 million. Nevertheless, it’s still a very rare occurrence. There have been fewer than 30 coins that have surpassed the $1 million park at auction.

Source: The Inquisitr 

You Might Also Like...
A gold medallion struck by the Qajar Dynasty ruler Fath ‘Ali Shah (1797-1834). Estimate: $75,000 - $95,000.
An unprecedented selection of high-grade ancient and world coins — ranging from the dawn of numismatics to most modern corners of the globe and featuring several important collections — highlights ...
READ MORE
The strip was presented by Watterson as a gift to fellow cartoonist Brian Basset, creator of the popular strips Adam@Home and Red and Rover.
The original hand-colored Bill Watterson Calvin & Hobbes artwork from Nov. 19, 1986 – the first original Watterson Sunday strip known to have come up for public auction – brought ...
READ MORE
Among the finest Cameo examples certified.
A proof-only 1895 Philadelphia Morgan dollar, PR66 Cameo PCGS, leads the thousands of lots up for bid at Heritage Auctions’ November 2012 U.S. Coins Signature® Auction, the official auction of ...
READ MORE
In this photo provided by Heritage Auctions, the front of a 1905 $5 bill is shown. How do you turn a $5 bill into $200,000? Let it sit around a century or so. A Dallas auctioneer is about to off a $5 bill presented in 1905 to Vice President Charles W. Fairbanks _ Theodore Roosevelt's No. 2 _ from the First National Bank of Fairbanks, Alaska. (AP Photo/Heritage Auctions)
The $5 bill displayed for decades on Charles Fairbanks IV's wall was long a treasured family heirloom from Alaska. Now, to the surprise of the grandson of a turn-of-a-century vice ...
READ MORE
Roy Lichtenstein’, Sunrise; Sunset, 1964. Ink and graphite on paper. Estimate: $400,000.
Roy Lichtenstein’s 1964 ink and graphite on paper masterpiece, Sunrise; Sunset, is expected to realize more than $400,000 when it comes across the auction block as the lead lot in ...
READ MORE
Pennies in 1943 were supposed to be made of zinc-coated steel and those grey-colored cents are quite common. A few coins, however, were erroneously made of bronze, the metal composition from the previous year. (PCGS.com)
A rare 1943 Lincoln penny mistakenly struck in bronze instead of zinc-coated steel has reportedly sold for $1 million. UPI.com reports that Bob Simpson, co-chairman of Major League Baseball’s Texas Rangers, ...
READ MORE
Roman Empire. Macrinus (AD 217-218). AV aureus (20mm, 6.81 gm, 6h). Rome, AD 218. Sold for: $203,150.00.
A magnificent gold Aureus of the Roman Emperor Macrinus, dated to 218 AD – and pedigreed to the prestigious Metropolitan Museum of Art Collection – shattered pre-auction expectations on Sept. ...
READ MORE
Australia Reserve Bank 20 Dollars ND (1994-1996) Pick 53s McDS32. Estimate: at $15,000+.
More than 1,600 lots of graphically stunning and significant currency, from every country in the world, will take center stage at the Long Beach Convention Center, Sept. 6-7, as Heritage ...
READ MORE
Spectacular British, Islamic collections Headline Heritage Auctions Event
Bill Watterson’s Calvin & Hobbes Sunday Strip Brings
1895 Cameo Morgan Dollar Highlights Heritage Auctions’ U.S.
Rare Century-Old $5 Alaska Bill to be Auctioned
Roy Lichtenstein Masterpiece Leads Modern & Contemporary Event
Rare 1943 Lincoln Penny Sells for $1 Million
Ancient Roman Gold Brings Five Times Estimate, to
World Paper Money Takes Center Stage in Heritage

Be Sociable, Share!
This entry was posted in ACTV Exclusive, Coin News, Coins and tagged , , , , , , . Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>