$1.15 million for a 1792 silver center cent

morgansforever · April 22, 2012 7:34PM

Great coins/patterns bring big money even in a down economy apparently.
This one is a PCGS MS61 BN, what's the highest graded?
Anyone know how many were struck? RB states 14 are known, including one unique specimen.
What is the unique specimen? Cheers to the buyer

Link

ricko · April 22, 2012 11:24PM

Would love to find one of these while metal detecting the old colonial sites in this area... maybe... Cheers, RickO

coinman23885 · April 22, 2012 11:33PM

The buyer on this coin received an excellent deal in my opinion, and I am a bit shocked that the coin only sold for $1.15 million. I would have expected a bid closer to $1.5 million. I think there is a lot of future upward potential here. If I had had the money, it would have been mine. It's gorgeous.

CaptHenway · April 23, 2012 12:44AM

Would it have sold for more if the coin were not lightly circulated (IMHO)?

TwoSides2aCoin · April 23, 2012 12:57AM

I'd have to trade ten thousand boxes of 20 for that coin

. I don't even have one , yet.

Coinsponge · April 23, 2012 1:14AM

<< <i>Would love to find one of these while metal detecting the old colonial sites in this area... maybe... Cheers, RickO >>

Probably would not be in as nice of condition but you couldn't beet the acquisition price.

johnny9434 · April 23, 2012 4:42AM

<< <i>Would love to find one of these while metal detecting the old colonial sites in this area... maybe... Cheers, RickO >>

one never knows ricko. i know someone who got a higley not to far from the mine here. again, ya never know.

seateddime · April 23, 2012 9:23AM

wow!

Quarter1822 · April 23, 2012 10:17AM

<< <i>Would love to find one of these while metal detecting the old colonial sites in this area... maybe... Cheers, RickO >>

Hey Ricko yes same me too I wish. I wish find by detecting.

AMRC · April 23, 2012 11:31AM

<< <i>Would love to find one of these while metal detecting the old colonial sites in this area... maybe... Cheers, RickO >>

I would not care how I found it!

Analyst · April 25, 2012 10:34AM

MorgansForever: <<Great coins/patterns bring big money even in a down economy apparently.>>

While this statement is true, it is misleading in this context. The 1.15 million result was not that strong a price. As I explain in an article referenced below, in 2008, Heritage auctioned a well circulated 1792 cent pattern for more than $600,000. The two coins that each brought $1.38 million in January are better examples of coins bringing “big money” in the current economic environment.

MorgansForever: <<This one is a PCGS MS61 BN, what's the highest graded?>>

The Garrett J-1 is PCGS graded MS-67. Reportedly, it sold for $5 million within the past few months. The Norweb piece is PCGS graded MS-64 and sold for $2.8 million in 2011. Please read my articles.

MorgansForever: <<Anyone know how many were struck? RB states 14 are known, including one unique specimen. What is the unique specimen?>>

No one knows how many were struck. The one “unique specimen” lacks a silver center, and, reportedly, has an empty area where the silver plug would have been. I have never seen this piece, though there is more information about this piece in my recent article. It probably should be considered a different pattern, a J-2 or a new listing?

1792 Silver Center Copper Cent Pattern Brings $1.15 million

1792 ‘Fusibly Alloy’ Pattern Cent

$1.38 Million Auction Record for a Half Eagle

keyman64 · April 25, 2012 10:47AM

Along the lines of what Analyst says...this was not strong money. Legend(Laura) thought it would bring close to 1.5million and it certainly fell significantly short of that. I was watching the auction when it went live. Do you know how many bids were placed during the live auction?................ZERO! ZIP! ZILCH!...internet bidders got it up to 1 million prior to the live auction and that was all she wrote. Pretty sad and boring.

roadrunner · April 25, 2012 12:19PM

Article

This coin brought $105K back in 1974, a fairly lackluster gain over 28 yrs compared to other great coins of that era....many of which increased 30-50X. If one starts looking at
pop 1 or 2 20th century pop tops that number could be >100X.

Examples from the 1975 James A. Stack sale - what they realized then and prices they have sold for or would be worth over the past few years:

1855 half gem unc $900 to $52,000+
1867-s quarter gem unc $1800 to >$100,000
1904-s barber half gem unc - $1000 to $75,000
1901-s barber quarter gem unc - $5500 to $275,000
1871-cc quarter gem unc -$10,500 to >$400,000
1892-0 barber half gem unc - micro o - $3100 to >$100,000

This 1792 cent could have done better.

tradedollarnut · April 25, 2012 12:31PM

How do you build a $50M pattern collection? Start with $100M worth of patterns :-D

Just had to say it. As cool as they are, financially they get no respect!

Analyst · June 7, 2012 7:25AM

TDN: <<How do you build a $50M pattern collection? Start with $100M worth of patterns. … As cool as they are, financially they get no respect!>>

I do not find TDN’s statement to be convincing.

1) In 2007, a Dallas area collector paid more than $30 million for a collection of patterns assembled by a Southern Collector. I am almost certain that the Southern Collector paid much less than $30 million for his patterns, many of which were purchased in the same decade, some just months earlier.

2) When HA sold Queller’s collection in Jan. 2009, the prices realized for major pieces were high, usually much more than the prices paid by Queller. Patterns that Queller bought in 2003, for example, sold for much more in Jan. 2009, during a severe recession.

Auction of Queller Collection, part 1

Auction of Queller Collection, part 3

3) In Jan. 2010, a Bickford Ten sold for $1,265,000

4) Consider the result for a Washlady Dollar in an auction at the Oct. 2010 CoinFest

$1.15 million for a 1792 silver center cent

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