Tag Archives: coin dealer

Rare Penny Auctioned for Record $2.6 Million

A Beverly Hills coin dealer paid $2.6 million for a rare American penny dated to 1792, the highest amount ever paid for a one-cent piece at auction.
Known as the “Birth Cent” after its engraver Robert Birch, it is one of the first pennies ever made for the newly formed United States of America. It was created as part of a series of prototype coins, and only ten coins are believed to be extant. Kevin Lipton, the coin dealer who made the purchase, believes that this particular coin is in the best condition of the lot.

“I felt elated, just wonderful,” Lipton, 55, of Lipton Rare Coins Inc said of his winning bid made last Thursday at the Heritage Auctions sale in Orlando, Florida. “I thought the coin would bring more money. This was a really good buy.”