230 million times face value

Ed62

Earlier this week a half cent sold for $1,150,000. That is 230,000,000 times face value.

I have not seen or heard a single word in the popular or financial press about such an astounding event.

Does not the ANA, PNG, ICTA, the grading services, and/or the auction houses have PR firms on call to publicize events like this?? When Sotheby's sells, say a Picasso, for a record price it is all over the NYT, WSJ, Bloomberg, etc. etc.

LochNESS

Maybe they are too busy reporting on the State of the Union address? Is this really a record? I thought US coin sales were over the $10 million mark now. TDN should know about this …

MGLICKER

Million Dollar coins no longer grip the nation as a whole.

Thank you for posting the info though as the number is still important, especially for a half cent.

lostincoins

For a 1/2 cent that is amazing. Higher denomination coins would of course be lower Xface value and it could be that you are the first to think of it the way you did.

MGLICKER

The cent residing on Mars could eclipse the face value record.

Shipping though would be a problem.

Ed62

That is a 22,999,999,999 per cent increase in value over 220 years.

MGLICKER

<< <i>That is a 22,999,999,999 per cent increase in value over 220 years. >>



Somewhere a 260 year old man will enjoy a cushy retirement.

astrorat

<< <i>Earlier this week a half cent sold for $1,150,000. That is 230,000,000 times face value.

I have not seen or heard a single word in the popular or financial press about such an astounding event. >>

The event really is a non-event outside of numismatics. It becomes an event if the amount of money is huge, not the increase relative to face value. We think it's cool ... we are nerds. Had it sold for $11M ... the news would have been all over it and a tiny bit of trivia would be the "how much times face" angle.

keets

all but a very tiny percent of the population even know that we struck Half Cents. heck, there are even people who think Two Dollar Bills and Eisenhower Dollars are fake. I really enjoy showing novice collectors the odd denomination 19th century coins, many express sheer glee!!

Nap

<< <i>all but a very tiny percent of the population even know that we struck Half Cents. heck, there are even people who think Two Dollar Bills and Eisenhower Dollars are fake. I really enjoy showing novice collectors the odd denomination 19th century coins, many express sheer glee!! >>



Agree. I've told people that I collect old half dollars and they don't even know what a half dollar is!

Greeniejr

The Numismatic industry does have a very talented PR guy working for it. Donn Pearlman, who is a coin collector and was a news guy in Chicago, gets reports into the hands of the media when something big happens. It is no coincidence that when coins sell for big bucks like the 1794 Dollar, the 1804 Dollar or the 1913 Nickels that it is picked up by news agencies around the country. He also used to write for the Numismatist Magazine

LochNESS

Good point, Keets and Nap. I totally agree. The primary reason for this not being "big news" or "headline grabber" is likely that nobody cares because nobody knows it even exists. Can you imagine the following conversation:

reporter: "Chief, check out this major story I just landed! Some guy paid over 230 million times face value for a half cent!"

editor: "Lois, I told you nobody gives a damn about some dusty old coins. Now bring me more pictures of Superman!"