One of a Kind Coin in Panama City

[panhandlefool]

Lifted from the website for WJHG-7 in Panama City, FL. Reprinted without permission, so please don't call anyone and have me arrested .

 

It was only worth $10 back in the 1800s. Today, it's worth more than $150,000. Its a one-of-a-kind 1879 gold piece, and it is now here in Panama City. Larry Lee, owner of Coin and Bullion Reserves, acquired this coin when he bought an estate in Alaska.

 

He wouldnt say exactly how much he originally paid for the estate, but lets just say he got a pretty good deal.

 

Now, he is trying to decide if he's going to sell it to a collector in a private deal or if he'll auction it off in Orlando at a public event in January.

 

Either way, Lee's excited to have come across this coin and excited to show it off.

 

"Showing people something they've never seen before; no one in the coin business has ever seen something like it. So it's very exciting to be able to offer something that nobody else can."

 

There were only 762 minted coins in Carson City, and this is the only one known to still exist.

[gmarguli]

I'm not sure what this coin is. Sounds like it is an 1879-CC $10. If so, then the mintage is 1,762, there are several known to exist, and it isn't worth anywhere near $150,000, more like $10,000+ depending on condition.

[panhandlefool]

Well, the article is a direct cut-n-paste from the TV station's website, so I certainly can't vouch for authenticity or accuracy of the claims. Just thought I'd throw it out there.

 

I do remember from seeing a shot of the coin on TV that it appeared to be NGC graded. I look at the pop report, and there is one MS62 in that grade. If this is that coin, it would definitely be worth more than $10K, I would think.

 

Maybe I'll stop by the shop if I'm in town in the next week or so. This guy loves to show these coins off! I think it creates traffic for his jewelry store.

[gmarguli]

An MS62 would be worth a lot more than $10K.$150K seem high, but you never know with this market.

 

I was figuring a VF/EF example at $10K.

[AlixTCat]

Panhandlefool - Are there any worthwhile coin shops in PC or PCB? I'll be heading over there Friday to take my wife to her favorite Korean restaurant and I would like to make the trip even more worthwhile. Please let me know before Friday.

 

Jonathan

[AlixTCat]

Okay, so I WON'T be going to any coin shops in PC or PCB on Friday. ! Maybe they're aren't any?

 

Jonathan

[HaydenTubbs]

Okay, so I WON'T be going to any coin shops in PC or PCB on Friday. ! Maybe they're aren't any?

 

Jonathan

You can probably look online....