43 million times face value – Look at this incredible auction result

Birch Penny
The ‘Birch Cent’ – sold for over 50 million times its face value

The hammer just came down on two of earliest coins issued by the US Mint, with one of them selling for over half a million dollars.

The 1 cent copper coins, both dating to 1792, went for a combined total of $869,500 at the auction held in California at the start of the month – 43 million times the combined face value of the coins.

One of them, known as the ‘Birch Cent,’ sold for $517,000. The other, known as the ‘Silver Center Cent,’ went for $352,500.

The auctioneer could not explain why one coin proved more valuable than the other, saying that the market just responded differently to the two.

The ‘Silver Center Cent’ is among the very first coins ever struck by the US Mint in Philadelphia.

Huge Historical Significance

America’s Founding Fathers wanted to differentiate themselves from British coinage and British rule and such coins are an example of the transition in American history from the colonies to a new republic.

Both coins have the words ‘Liberty Parent of Science & Industry’ on them, which shows how the United States was trying to distance itself from the religious persecution and monarchy it associated with Britain.

Classic coins with a rich and fascinating history will always be popular among collectors and investors, so make sure your Portfolio contains a selection.

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