Rare Penny Auction Bids Over $1 million for 1792 Penny

Rare Penny One Million Auction

Heritage Auctions ended their auction of the 1792 Silver Center Cent. The rare coin was the first coin struck inside the Philadelphia Mint and showcases some amazing history for America and their coinage. Coin collectors around the world had their eye on this auction. This rare penny auction bid over $1 million at $1,150,000 on April 19th, 2012.

The activity on the auction listed at Heritage Auctions was 22 Internet, Mail & Phone bidders on this specific famous 1792 penny. Currently the total pageviews of this million dollar penny is at 13,557 page views. The winning bidder was one of the Internet bidders meaning they were never even fully at the auction and have probably never seen this rare penny in person.

Don’t Forget The Video Of The Penny Auction Below

The coin was talked about on a lot of nightly news channels and has been nicknamed “Miss Liberty” on many of these specials. The front face of the 1792 rare coin is Lady Liberty. The actual name of the coin which was never put into circulation was Judd 1. This prototype and many others are called Silver Center cents due to their silver plug. The silver plugs in these coins varied and is likely different in all surviving specimens as no standard dimensions were ever established.

So who exactly was the bidder of this prized collectors coin that was minted at the start of the United States? The Daily Herald uncovered the actual bidder that won the auction. They named the winner as Kevin Lipton who is a dealer out of Southern California that represented a group of investors. It was this group of bidders that pushed the bid up to the $1.15 million pricetag before the real auction ever started at the Renaissance Schaumburg Convention Center.

The executive vice president of Hertiage Auction Galleries said about the rare penny auction and it’s incredible pricetag, “The auction is a major event for a couple of reasons. First is the historical value of the piece. It’s a real classic, one that’s rarely ever seen in such good condition. Second is the interest that this has generated. Only about 25 coins have ever sold for more than $1 million.”

If you’re dreaming of owning a copy of one of these rare pennies there are currently only 14 surviving prototypes that are known to exist. The silver plug pennies are popular and are at the top of the collection dream list for most numismatist. There is a really good historical perspective and background on this rare silver plug penny at the Heritage Auction listing. You’ll find dates, presidents and people associated with this coin and hit’s history.

All our photos are credit of Heritage Auctions.

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1792 PCGS MS61BN J-1 Libery Collection 1C

Rare Penny 1792

1792 Rare Penny Silver Slug Front

1792 Rare Penny Front

1792 Rare Penny Silver Slug Back

1792 Rare Penny Back

1792 Penny Fetches 1 million dollars

An auction was held inSchaumburg Thursday night for an ultra-rare 1792 U. S. “experimental” penny. The lot sold to an internet bidder for one million dollars.

1 Comment on "Rare Penny Auction Bids Over $1 million for 1792 Penny"

  1. Earnest L. Hicks | April 23, 2012 at 4:44 pm | Reply


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