1792 $1million dollar penny prototype hitting the auction block

https://www.barrons.com/articles/fi...times-its-monetary-value-1538508889?link=mktw





"A prototype for the first U.S. penny will be auctioned for around $1 million—or 100 million times its trading value—later this month at an auction via Stack’s Bowers in Baltimore.

The one-cent piece is part of the Archangel collection, which includes coins from American colonial days through the founding of the U.S. Mint in 1792, says John Kraljevich, senior neumacist at Stack’s Bowers"

"... The penny up for sale was printed in 1792 ..."
@paddyman98 they apparently made coins differently back then than today

I'll start the bidding at $5 bucks. That's about all I have. LOL

 

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Printed .. Good one!

Numismatist is now neumacist..

 

They should've gone for that design for common circulation in my opinion.

 

They should go back to that design now. Forget eliminating the cent. We need to go back to large copper cents.

 

That was more difficult to read than it needed to be. I think the median 8th grader could produce a better piece of writing than whoever wrote that article.

 

Is that the Neumacist in you stating that; or the Numismatist ?

 

now thats something different

 

"Abraham Lincoln didn’t appear on pennies until the centennial of his birth in 1909."

Um he wasn't even born when they printed this prototype. Why bring him up?

Interesting pattern, poorly written article. It hints that there are approx. a dozen of these that survived.

 

Try not to read the article. It hurts.

 

Yeah, I like the design too. Except they've used the old design for modern gold commems, such as the 2007 Jefferson First Spouse (below), 2008 Jackson First Spouse (capped bust) and 2008 Van Buren (seated)

 

I raise the bid to $6.

 

The unknown population is a concern. How many survived? How many are slabbed with a cert. number for documentation?
If 12 of these exist is it really worth a million dollars?

 

12 is a very low number why wouldn't it be depending on condition? PCGS has 5 total 4 J-4s and 2 J-3. A PCGS J-4 58 sold for 1.175 Mil in early 2015. The Garret J-4 got 2.585 mil in 2015 as a 65 RB.

From a quick search of stacks it looks like the AU 58 up for sale is the J-3, which just shows how terrible that article is as that is the ONLY BN one PCGS has graded (the other is RB if it isn't the same I didn't look into it that deeply) and they used the picture of the J-4 58.

 

One day coins will be 3D printed

 

Maybe. But most likely will be obsolete before that happens.

 

Shhhhhh. Don’t give the Chinese any ideas!

 

Do you really think that hasn’t been tried and failed already?