View Article: http://news.yahoo.com/s/ap/20071117/ap_on_re_us/30_million_coin_col...
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TRENTON, N.J. - An anonymous buyer has paid more than $30 million for a collection of rare U.S. prototype coins, some from the 1700s, that never went into circulation, according to the dealer that brokered the deal.
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The collection consists of about 1,000 coins that collectors refer to as pattern coins — trial designs that never went into production because the U.S. Mint chose other designs.
"This collection is an incredible collection. ... These were some of the first coins ever, ever struck by the United States government," said Laura Sperber, a partner in Legend Numismatics of Lincroft, N.J., which brokered the deal.
The seller wanted to remain anonymous, and the buyer, concerned about security, agreed to be identified only as "Mr. Simpson, a Western states collector," Sperber said.
"Both the buyer and the seller are very competitive people. And they're very successful in their careers, and they both love the romance and collectability of coins," Sperber said.
The coins span the period from 1792 to 1942. Highlights include test designs for the first pennies made in 1792 and six coins from 1872 that are often referred to as "Amazonian" patterns because the female figure portraying liberty is much stronger and regal looking than earlier versions.
It took the seller about 10 years to assemble the collection, Sperber said.
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Submitted: Nov 18, 2007 Views: 241 Comments: 0 Likes: 8
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