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First U.S. penny auction

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posted on Feb, 12 2011 @ 08:02 AM
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In Amsterdam,they had the first U.S. penny auction. The copper coin produced 47,580 euros, while he was valued at 32,500 euros. They not announced who the new owner was.

The 1793 Chain Large was in 1793 the first coin intended for circulation in the United States. In 1993 the copper penny was found in a lot of other U.S. coins.

The coin was not popular because there are chains on the unity among the fifteen states. Many Americans saw that as a reference to slavery.

NOS (dutch)




posted on Feb, 12 2011 @ 08:50 AM
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I still don't understand people who will pay that much for a penny. Are they museums or just people who are filthy rich?



posted on Feb, 12 2011 @ 09:34 AM
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€48,000 for €0.02 worth of metal. What's wrong with this picture?



posted on Feb, 12 2011 @ 12:53 PM
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reply to post by 547000
 


Well I think wealthy coin collectors give anything for their hobby, even their wives, so they can spent more time collecting



posted on Feb, 12 2011 @ 12:55 PM
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reply to post by quackers
 


At least it WAS copper. These days we're too cheap to use good metal for coins. I mean, our pennies now are like copper plated.

Actually if you really think about it, it's kind of depressing....



posted on Feb, 12 2011 @ 01:25 PM
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reply to post by Hefficide
 


Indeed. At todays prices one copper cent would be worth about what 3 cents? Hell you could go to the bank and say "I'd like $1000 in pennies please" and sell them for $3000 down the local scrap merchant.




posted on Feb, 12 2011 @ 02:05 PM
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Originally posted by 547000
I still don't understand people who will pay that much for a penny. Are they museums or just people who are filthy rich?


Too true, it really is a funny summation of the human ego that the wealthiest members of society will spend all those thousands of dollars to buy a useless penny! Someone says yeh its valued at X Euros, and they dive in for it.. Imagine how much they could have helped out a whole community if they had invested it, it's disgusting. Probably could have even built a school or a medical facility in a third-world area that does not have one nearby - maybe even both!

I have a coin collection, but I just like to keep a few interesting notes and coins that I come across in my travels as mementos, I would never pay so much more than the value of the note/coin that I want! Nearly bought a one million zimbabwe dollar note, but even that I thought was a ripoff..
edit on 12-2-2011 by arollingstone because: spelling



posted on Feb, 12 2011 @ 03:19 PM
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I would be more curious who the buyer was US or European, ?



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