Snappy newsletters. Simple Facebook sharing. Spirited comments. Sweet features are waiting… GET THEM NOW!

Hot on Facebook

Uproar After NC State Agent 'Fixes' Girl's Lunch Preschooler has to eat chicken nuggets instead of mom's meal »

Prototype Coins Go for $30M

Anonymous buyer pays $30 million for rare coin collection

By Laurel Jorgensen, Newser Staff

Posted Nov 18, 2007 9:53 PM CST

(Newser) – An anonymous buyer spent more than $30 million on a collection of about 1,000 coins that never made it to circulation, the AP reports. The rare “pattern coins,” dated from 1792 to 1942, are trial designs the US Mint rejected before producing them for circulation. Those coins generally stay in the hands of the Mint, making a collection this large very valuable.

Included in the lot are test designs for the first pennies made in 1792 and coins from the 1800s with depictions of an "Amazonian" woman representing liberty. The seller asked to stay anonymous, and the buyer is identified only as “Mr. Simpson, a Western states collector.” The dealer who brokered the sale says it took the seller around 10 years to assemble the collection.

This combination of two undated photos provided Saturday, Nov. 17, 2007, by Heritage Auction Galleries, in Dallas, Texas shows the front and back of an experimental coin from 1792. The coin was intended... (Associated Press)

An anonymous buyer forked over more than $30 million to purchase a collection of rare coins. (AP Photo/David Zalubowski) (Associated Press)

(Shutter Stock)

« Prev« Prev | Next »Next » Slideshow

To report an error on this story, notify our editors.

More Newser Stories

People Left $409K in Coins at Airport Checkpoints

And the TSA is keeping it

(NEWSER) - Your weird stat of the day, courtesy of the Hill : Passengers left behind $409,085.56 in spare change while going through airport security checkpoints last year. The biggest haul by far came at JFK, where about $47,000 was collected, followed by Los Angeles International ($19,000), Atlanta's Hartfield-Jackson ($16,500), San Francisco ($16,000), and Miami International ($15,800). The TSA gets to keep the loot, though Florida Rep. Jeff Miller wants to make the agency give it to United Service Organizations in the future. More»

Burglars Steal Rare Coins Then Make Very Dumb Move

... which gets them $450 for collection worth thousands

(NEWSER) - A group of burglars stole a coin collection worth thousands and proceeded to pour it into a coin-counting machine, resulting in a $450 payoff. Authorities say one of the thieves—who also stole jewelry and tools—was the Oregon victim's son. "The crooks were idiots, just simply an idiot," said Dan Johnson, Sr., the owner of the coins. "To not know the value of what they had taken, just to get pocket change for it. Makes me feel good he was a stupid person and didn't realize what he had." (And yep, that "stupid person" is Dan Johnson, Jr.) More»

Kiss $1 Coins Goodbye

US Mint will stop attempting to circulate unpopular coins

(NEWSER) - The US government has caught on, once again, to the fact that nobody really likes $1 coins, and it will cut production of the latest version. The coins, bearing the likenesses of dead presidents, were mandated by Congress in 2005 and began production in 2007. But government vaults have built up 1.4 billion of the coins, a number that was set to reach 2 billion by the time the US Mint got to the last president in 2016. Instead, the Mint got through 20 presidents—and when the next one, Chester A. Arthur, is produced, the Mint will only make enough coins to satisfy the demands of collectors. More»

Amid Debt Mess, Renewed Calls to Kill the Lowly Penny

Gov't could save millions each year by dropping the one-cent coin

(NEWSER) - Calls to ditch the penny—which cost 1.79 cents apiece to manufacture last year—are nothing new . But with budget-slashing and debt-reducing on America's mind, proponents of the move are renewing their call, reports Politico . So is the time finally right? Many think so. The US Mint lost $42.6 million making pennies and nickels coins last year due to rising metal costs. "Doing away with [the penny] doesn’t raise taxes and it doesn’t eliminate services. That’s a good deal," says a former congressman. More»

Tiny Island to Mint Star Wars Currency

Luke, Yoda will be on legal tender for first time

(NEWSER) - Move over, Queen Elizabeth: Luke Skywalker and friends will soon be sharing a spot on the currency of a tiny Pacific island. Yoda, Leia, and Darth Vader also will appear on the flip side of the soon-to-be-minted coins for the island of Niue. It’s the first time Star Wars characters will show up on legal tender, reports the Sydney Morning Herald . Though the country uses New Zealand currency, the coins will be usable only in Niue. More»

NEWS FROM OUR PARTNERS

What is Newser?

Face it: there's too much news. At Newser, we choose the most thought-provoking and entertaining stories from hundreds of US and international sources and reduce them to a headline, picture, and two paragraphs. And we do it 24/7—you can come back morning, noon, night (and in between) for something new that matters. Read less, know more.

Learn more »

Partnering with: Slate

View Newser on the mobile website

Prototype Coins Go for $30M

Anonymous buyer pays $30 million for rare coin collection

OTHER STORIES ON OUR RADAR

Related links

collecting • coins • US Mint

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

People Left $409K in Coins at Airport Checkpoints

And the TSA is keeping it

Burglars Steal Rare Coins Then Make Very Dumb Move

... which gets them $450 for collection worth thousands

Kiss $1 Coins Goodbye

US Mint will stop attempting to circulate unpopular coins

Amid Debt Mess, Renewed Calls to Kill the Lowly Penny

Gov't could save millions each year by dropping the one-cent coin

Tiny Island to Mint Star Wars Currency

Luke, Yoda will be on legal tender for first time

About Us

Site

Newser By Users

Community

Site Maps

Tools

More News

What is Newser?

Prototype Coins Go for $30M

Anonymous buyer pays $30 million for rare coin collection

Bookmark & Share

OTHER STORIES ON OUR RADAR

Related links

collecting • coins • US Mint

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

People Left $409K in Coins at Airport Checkpoints

And the TSA is keeping it

Burglars Steal Rare Coins Then Make Very Dumb Move

... which gets them $450 for collection worth thousands

Kiss $1 Coins Goodbye

US Mint will stop attempting to circulate unpopular coins

Amid Debt Mess, Renewed Calls to Kill the Lowly Penny

Gov't could save millions each year by dropping the one-cent coin

Tiny Island to Mint Star Wars Currency

Luke, Yoda will be on legal tender for first time

About Us

Site

Newser By Users

Community

Site Maps

Tools

More News

What is Newser?