The E-Sylum:  Volume 9, Number 30, July 23, 2006, Article 21

1792 CENT TRADES HANDS

The Associated Press published an article July 21 about the resale
of 1792 cent by a West Palm Beach E-Sylum subscriber.

"Denis Loring and Donna Levin, of Singer Island, reaped a windfall
from a copper 1792 penny the couple bought last year at a Beverly
Hills auction for $437,000.

Two months ago, the penny sold for a whopping $660,000 to "an East
Coast energy company executive" who wished to remain anonymous, said
Greg Rohan, president of Dallas-based Heritage Auction Galleries,
which arranged the transaction. The couple took home $600,000.
Heritage made a $60,000 commission.

The coin had originally been owned by descendants of Oliver Wolcott,
a signer of the Declaration of Independence and Connecticut's governor
in the 1790s, Rohan said. It had been kept for decades in an old
tobacco tin.

The chocolate-colored rare coin, one of only nine known to exist,
bears the date 1792, the inscription "Parent of Science & Indust:
Liberty," and the likeness of a woman's head representing "Miss
Liberty."

"As silly as it sounds, coins like this, you don't really ever own.
You get to be a custodian," Loring said Friday. "It was here long
before I was here, and it will be here long after I'm gone."

To read the complete article, see Full Story

  Wayne Homren, Editor

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