How 1 cent can make wealth

[Pierre Tavlitzki]

I start by giving the answer, and then I explain.

Just wait two centuries for an American coin of 1 cent to be sold at auction at a very high price.

On February 24, I made an exception to my practice to speak only of future sales (and then their results). I wrote: "As we spoke of the auction house Heritage, I highlight a sale of coins of 1 cent from 1793 to 1806 included in a general coin sale on 14, 15 and 16 February. I counted twenty-three 1 cent coins over $ 100 K with a double high price at $ 632.5 K (including expenses). In the press release, the seller expresses his satisfaction! I appreciate this. "

Coming back to this release, I invite you to view it because it was an extraordinary sale. These 300 lots from a single collection of these coins that are known as "Large Cents" fetched $ 10.7 million.

The two results that I reported above were awarded to coins in nearly uncirculated condition since 1793 and 1794, respectively. Of course it is such a condition that makes them exceptional, as these small coins had no reason to stay in a drawer.

Lot 1143 from the sale of Bowers and Merena in Baltimore on Nov. 20 had not been so lucky : it is very worn. Dating back to 1795 and also belonging to the category of Large Cents, this 1 cent type Reeded Edge Liberty Cap Cent has survived with only six copies known. Its starting bid is 75 K $.

[Pierre Tavlitzki]

The result is far beyond what I had imagined: 400 K$ costs included for that coin, despite its poor condition.

The numismatists, as the philatelists, love the rarities.