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IN FRATERNAM MEAM
Thursday, February 24, 2005
200-YEAR-OLD PENNY SELLS FOR MORE THAN $400,000
BEVERLY HILLS, California----
A copper penny minted in 1792 and kept in a
tobacco tin for decades was auctioned Monday
for $437,000.

Antony Terranova of New York City was the
highest bidder, said Donn Pearlman, spokesman
for Beverly Hills auction house Ira & Larry
Goldberg Coin & Collectibles, Inc.

The penny's owners were descendants of Oliver
Wolcott, the governor of Connecticut in the
1790's and a signer of the Declaration of
Independence, according to auctioneer Ira Goldberg.

"The historical importance of this coin cannot
be overestated," said Michael Sherman, vice
president of Professional Coin Grading Services,
which directed a team of expert who authenticated
the coin.

The chocolate colored penny, the ninth known example
if its type, bears the date 1792, an inscription
"Parent of Science & Industry: Liberty", and the
likeness of a woman's head representing Miss Liberty,
Goldberg said.

The owners surprised collectors with its existence
in August when he brought the valuable penny to
the American Numismatic Association World's Fair
of Money convention in Pittsburgh.

(abstracted from DAILYHERLD/Associated Press)
posted by infraternam meam @ 3:34 AM  
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Name: infraternam meam
Home: Chicago, United States
About Me: I am now at the prime of my life and have been married for the past 25 years. Sickly at times, but wants to see the elixir vita, so that I will be able to see my grandchildren from my two boys.
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