Old coins are a big collector’s niche in the world and there is a surprising amount of money in the business. An ancient penny has turned up in the market and is worth one million dollars. The coin originally comes from 1792 and was made by an American engraver named Robert Birch who was commissioned by the brand new United States government to design and create the first ever coins.
The coins came from the Philadelphia Mint and the coin is officially known as the Birch Cent. Only ten of these historical pennies are still believed to exist in the world today and are extremely rare. At a past auction another one of the Birch Pennies popped up and was sold for an astonishing $2.58 million when the initial pre-sale auction price was estimated that the coin would sell for somewhere between $600,000 and $700,000. Coin specialists Stack’s and Bowers auction of coins all of the time and are lucky enough to also be selling an 1861 Confederate Half Dollar that is predicted to go for $1 million.
All of these coins are the originals created when the United States was founded and while Birch was a main designer, there are certain versions that famous historical figures like Thomas Jefferson created. The coins have disappeared throughout the years and the minimal amounts left are what make them so price worthy. The coin collecting industry is actually quietly massive with tons of people pouring money into their collections and building up impressive amounts of quality pieces. People see the coins as being a great investment opportunity because while they are dumping tons into purchasing them, as more time goes by the coins will only continue to rise in value as long as the owners make sure to keep them in proper condition.
It will be interesting to see how much the coin actually sells for at auction and hopefully these pieces of our nation and the world’s history continue to pop up.
Photo Via Stack’s and Bowers
