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Cryptocurrency News Articles
A RARE coin with an unusual denomination has sold for $2.1 million at auction
Nov 29, 2024 at 04:04 am
A certain date and style made the coin worth much more than face value. But it's hard to find, since it's a $3 coin, and experts say this one could be unique.
A RARE coin with an unusual denomination has fetched an astronomical sum of $2.1 million at auction.
The coin's particular date and style made it worth far more than its face value.
But it's especially hard to find because it's a $3 coin and experts say this one might be unique.
Coin enthusiasts might be able to guess where this coin was made thanks to an “S” on the front, below the date.
It's a product of the Gold Rush, when droves of people headed to California seeking riches.
The coin was minted in 1855 at the San Francisco mint.
The Gold Rush brought an influx of people to the state, and it's said that the government minted the coin to help facilitate transactions.
They used gold to mint a coin that was worth $3.
But this particular coin was valued at even more than an ordinary old $3 coin.
That's because it's a “proof,” which means it was one of the first minted.
Proof coins are usually made for collector or archival purposes and are often higher quality.
A listing on Heritage Auctions, an auction house that sold the coin, said this one was owned by a California family for years before it went up for sale.
The listing said the coin was “among the most elusive issues” in the United States.
Coin experts have said this particular specimen is unique in its quality.
It's made of 90 percent gold and 10 percent copper and weighs just over 5 grams.
The rare coin sold for millions in 2023.
The $3 coin isn't the only piece of currency that's fetched big bucks.
A historic coin from New England recently sold for a whopping $2.52 million.
And what exactly is a die break or error on a coin?
What causes such defects on coins and why are they so rare to find?
A die break, also known as a cud, is an error on a coin that is formed when a die, (a metallic piece that is used to strike a coin) is missing a piece near the rim.
When dies strike coins, they have a heavy impact and pressure and the metal from the blank part of the coin, known as the planchet, overlaps the area left by the missing piece of the die.
Coins with such deformities are rare thanks to the strict quality control measures at the US Mint.
When such errors do occur, they are often caught and destroyed.
However, those that slip through the net become huge collector's items worth much more than their face value.
The simple design predates the United States itself.
Three sisters recently sold off a rare dime that was valued at an incredible $500,000.
It had been stashed away by the family for emergencies.
See the exact date to look for to make $156,000 off a dime.
An odd penny also sold for a massive sum of $840,000.
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