The 7 Million Dollar Penny.

[BNBCoins.com-migration]

So, I was thinking.. How did that Penny come about? You know, the one copper penny (was it 1943) that should have been steel? I can't believe Andy(Angel D) brokered that deal for 7 million or so, just for a penny! But hey, my family knows people who were in the diamond business and there are some nice ones, one sitting in the smithsonian for 255 mil.

 

Seperate question, will a coin ever be worth 100 million+?

 

edited the year thanks to WalkerFan's correction.

[Walkerfan]

The year was 1943.

 

100 mill.? Maybe, but probably not in our lifetimes.

[dimefreak]

So, I was thinking.. How did that Penny come about? You know, the one copper penny (was it 1943) that should have been steel? I can't believe Andy(Angel D) brokered that deal for 7 million or so, just for a penny! But hey, my family knows people who were in the diamond business and there are some nice ones, one sitting in the smithsonian for 255 mil.

 

Seperate question, will a coin ever be worth 100 million+?

 

edited the year thanks to WalkerFan's correction.

 

I am assuming your talking about the Bronze 1 cent pieces. The anwser is rather simple. Left over Bronze planchets. Yes I said planchets. There is more than 1 1943 bronze 1 cent piece

 

To answer you next question of course a coin could sell over $100 million. But the coin would have to be quality first..

Lastly I want apologize for accidentally putting your contact info on the forum. No matter how much I detest you I would never deliberately do something like that.

[World Colonial]

When did this sale happen? I performed a Google search and came up empty. In any event, if someone actually paid that amount, they are a fool.

 

As for a $100 million coin, who knows. The PCGS "million dollar club" lists the 1849 and 1907 pattern double eagles at $15 million last time I checked. When money like that is being discussed, there are many competitive alternative forms of art available. As much as I like coins, I would prefer to buy one of the Czarist Imperial Russian Faberge eggs, assuming availability of both. Several years ago, Sotheby's had a collection with estimates of $5 to $24 million each. They ultimately sold them for an undisclosed amount to a Russian national.

[Walkerfan]

It didn't sell for $7 MILLION it sold for $1.7 MILLION.

 

The world's most valuable penny, a Lincoln cent struck in the wrong metal at the Denver Mint in 1943, was sold for a world's record price of $1,700,000 by Legend Numismatics of Lincroft, New Jersey. It sold just this past September.

 

The buyer is a Southwestern business executive. The historic World War II era coin's former owner arranged for the entire proceeds of the sale to be given to a charitable organization.

 

[James_OldeTowne]

I remember distinctly when the Brasher Doubloon was the world's most valuable coin, with a huge Coin Prices headline of 725,000. At that time, it seemed pretty clear that a coin would someday cross the $1,000,0000 barrier, but nobody would have bothered wasting even a second of thought on something as ridiculous as $10,000,000.

 

So as I sit here today, $100M seems laughable... as laughable as $10M seemed 20 years ago.

 

Hindsight is 20-20!

[Keigwin]

So, I was thinking.. How did that Penny come about? You know, the one copper penny (was it 1943) that should have been steel? I can't believe Andy(Angel D) brokered that deal for 7 million or so, just for a penny! But hey, my family knows people who were in the diamond business and there are some nice ones, one sitting in the smithsonian for 255 mil.

 

Seperate question, will a coin ever be worth 100 million+?

 

edited the year thanks to WalkerFan's correction.

 

I am assuming your talking about the Bronze 1 cent pieces. The anwser is rather simple. Left over Bronze planchets. Yes I said planchets. There is more than 1 1943 bronze 1 cent piece.

The coin was a bronze 1943-D and only one is known to exist. A couple dozen from Philly and SF exist.

Lance.

[RareSov]

100 million yes in no time. When the USD devalues enough, those patters worth 15 will be worth 100.

[BROADSTRUCK]

Wasn't that $1.7M deal like a 5 year ongoing negotiation and the buyer made the check out in full to the sellers stated charity organization?

[comicdonna]

I remember reading about the 1943 bronze cent in a newspaper back in the mid 70's. I have been keeping my eye out for one every since. The paper stated that 4 have been found.

[Conder101]

The paper stated that 4 have been found.

But non-numismatic media reporting is frequently wrong. Even in the 1970's there were a lot more than four known.