Dream Come True
December 18, 2008
Every collector's dream of finding a rare coin worth a great deal of money came true this week for a California collector.
I interviewed him yesterday for Coin Chat Radio and a story in Numismatic News.
The story is a happy one, though for security reasons the collector does not want his identity revealed.
He bought for $400 a 1792 silver center cent worth $300,000, according to an estimate made by ANACS, the grading service the pronounced the coin genuine and graded it VG-10 details scratched.
As he told me, he took a chance at a police auction in Modesto, Calif. Had the coin been offered in an online auction, collectors would assume it was just another Chinese fake, so $400 is a lot of money to put on the line.
What should also be gratifying for collectors generally is this specific collector wasn't lowballing a desperate little old lady who didn't know what she had.
From the way the collector answered my questions, he seems like a really nice guy of a kind you could meet at any coin club meeting across the country. He is just enthusiastic about his hobby and a little stunned by the outcome of this particular purchase.
What would you do with such a find? Sell it? He might, but he hasn't decided. Would you lend it to a museum? He might, but he hasn't been asked.
Of course, he hasn't had much time to think. The coin was just sent out to him by ANACS on Monday.
I am enjoying the collector's good fortune. After all, it was my dream to find something like this, too.
Appropriately, this story will be told on www.coinchatradio.com on Christmas Day.
On December 19, 2008 Ginger
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