A Lincroft rare-coin dealer has sold a World War II-era penny for $1.7 million, according to a report by Coin Update News.
Legend Numismatics handled the sale of the coin, a 1943 penny struck from the “wrong” metal, Coin Update says.
From the report:
The 1943-D bronze cent is the most valuable cent in the world, and it took four years of aggressive negotiations with the coins owner until he agreed to sell it, said Laura Sperber, President of Legend Numismatics.
The new owner is a prominent Southwestern business executive whos been collecting since he was a teenager, searching through pocket change looking for rare coins, explained Sperber. As a youngster he thought hed actually found a 1943 copper cent in circulation but it was not authentic. He still has that in his desk drawer, but now hes the only person to ever assemble a complete set of genuine 1943 bronze cents, one each from the Philadelphia, Denver and San Francisco Mints. He will display that set at FUN along with his 1944 Philadelphia, Denver and San Francisco zinc cents.
The anonymous collector who formerly owned the coin donated it to a charitable organization so they could sell it with all of the proceeds going to the charity, according to Andy Skrabalak of Angel Dees Coins and Collectibles in Woodbridge, Virginia who acted as agent on behalf of the former owner.
