People who collected coins decades back probably didn't imagine that some of those would be considered rare and a lot more valuable than their face value in the future. Although old coins are fetching big bucks at auctions and shows such as "Pawn Stars," there was a time when the holy grail of all American coins made an appearance on the show. A collector named Walter, brought two coins, a 1792 Half Disme, and a 1781 Libertas Americana silver medal, which were among the earliest coin minted in American history.
Rare Relics of American Numismatics
As Walter walked up to the counter, celebrity businessman Rick Harrison couldn't hold his excitement. Placing the two counters, Walter showed the two rare coins to Harrison. Picking up one of them, Harrison said it could be considered the first coin of America. Looking at the coin from 1792, Harrison added they were minted right after George Washington became the president and America got its constitution.
The Half Disme featured an eagle on a gray coin which was about the size of a modern dime. Rumors claim that Washington stole his wife's silverware for the production of the coins, Harrison said. Coming to the Libertas Americana, Harrison said that Benjamin Franklin had the coins commissioned in France. The shiny coin marked the early alliance between the U.S. and France during the Revolutionary War. It depicted a baby, a lion, and a protector. The baby was the personification of the U.S. that had just come into existence and the protector represented France shielding the baby from the lion which symbolizes England.
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Putting a Price on History
Since both the coins were graded by the Professional Coin Grading Service (PCGS), the coins are bound to command a high price. Walter came in with an asking price of $200,000 for the Libertas Americana and a whopping $600,000 for the Half Disme. Thus, for the two coins, Walter demanded a total of $800,000.
While Harrison started sweating, he phoned Jeff Garett, the owner of Mid-American Rare Coin Gallery, to see if the asking price was fair. The professional that Harrison consulted, confirmed that the coins were a rare find given the pristine condition. To Harrison's disappointment, the expert echoed Walter's numbers saying that the Half Disme would go for anywhere between $500,000 to $600,000.
For the Libertas Americana, the expert said that the right buyer could pay up to $200,000, which was exactly what Walter was asking for. The expert added that the two coins were quite popular among collectors and he hoped that Harrison would buy them. Harrison admitted that the Half Disme was "pretty damn amazing" and he would probably never get to hold another one in his hands. However, he let it go since he was worried about buying the coin and failing to sell it, which made it a big financial risk for him.
At the same time, Harrison believed that he could find some customers for the Libertas Americana. The negotiation began with the host offering $140,000 for the coin but Walter wasn't willing to come down that far. While he understood that Harrison had to make some money off it, he said he could only accept $180,000.
According to the PCGS website, the various iterations of the coin have been sold for up to $198,000 at auctions. Thus, realizing its value, Harrison agreed to pay up to $150,000.
Walter countered the offer by asking for $160,000 seeing that Harrison wouldn't pay that much, he finally decided to shake on a deal.
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