The E-Sylum:  Volume 7, Number 35, August 29, 2004, Article 5

ASSOCIATED PRESS ARTICLE ON 1792 CENT DISCOVERY

  The following are a few excerpts from the Associated Press'
  article on last week's discovery of a 1792 Cent at the American
  Numismatic Association convention in Pittsburgh:

 "The chocolate brown, quarter-sized coin sat in a tobacco can
  for decades, with its owners unaware of the item's history or its
  value.

  But on Saturday afternoon, appraisers at the American Numismatic
  Association's World's Fair of Money declared it was a 1792
  American copper penny worth at least $400,000. There are just
  nine coins like it in the world, said Donn Pearlman, spokesman for
  the ANA."

  "A family from New York state, who wished to remain
  anonymous, arranged to have Professional Coin Grading Service
  of Newport Beach, Calif., appraise the coin, Pearlman said."

  "The 1792 copper penny has been called a "silver cent without
  the silver" because it was an experimental coin the new country
  developed before the establishment of the U.S. Mint. Some
  such coins had a silver plug, others were made of an alloy of
  copper and silver and this coin was made of nearly pure
  copper, Bressett said.

  There are less than a dozen coins like it because the piece
  never went beyond the experimental stage, Bressett said.

  Their father found the coin 30 years ago in an old tobacco can
  where their grandfather kept about a dozen other old coins.
  From about 1976 to 1989 their father kept the coin in a small
  safe in a house that he never locked, Pearlman said. "
Full Story

  Wayne Homren, Editor

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