Featured For The Coin Buffs

It's sad he never actually knew what he really had...........or maybe he DID......he kept it all those years.....just didn't trust the gov't to be telling him the truth!!!!

 

Rare World War II-era penny flops at auction
https://nypost.com/2019/01/10/rare-world-war-ii-era-penny-flops-at-auction/

$204,000 sounds really low for this level of rarity. I wonder what dissuaded collectors from bidding?

 

Hi,
For being "put away" for so many years it is in not so fine shape. The three others that I have actually seen where more dynamic.
greg

 

According to an article that appeared in AntiqueWeek this week, Heritage Auctions had actually estimated the coin at $170,000 to $200,000. So the sale price was in line with their estimate. A news service called South West News Service was apparently the source of the falsely inflated amount of estimate. As the article says, "The error was simply a made-up number by a staffer at SWNS based on an internet search result of a much rarer but similar coin."

It goes on to say that "SWNS's number was not in any press materials provided by Heritage to the service. The final article was never approved by or fact checked before it was sent to the wire service's customers." -- Then of course, media outlets all over had picked up on the story when it was too late. The article says SWNS "admitted its error via email to Heritage Auctions on Jan. 8" soon after erroneous articles started appearing in major news media. Heritage asked SWNS to issue a worldwide correction. It doesn't say whether the correction was ever issued. Meanwhile, there are lots of stories out there making it sound like the penny didn't get anywhere near the price it was worth. But that was not correct, according to Heritage.

 

WOW! Wow wow .

 

People who pay this silly money for one rather dreary looking coin are not coin enthusiasts but contestants in a dick-wagging contest.
A real coin collector would have bought a thousand really nice or historic coins with the same money and had a thousand times more pleasure from them.