1792 cent realizes $1.15 million in CSNS sale

Silver Center cent pattern sells in April Heritage auction
By , Coin World
Published : 04/26/12
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An example of one of the first coins struck inside the Philadelphia Mint, a 1792 Silver Center cent pattern, brought $1.15 million with the 15 percent buyer’s fee during Heritage Auctions’ April 18 to 20 sale. The auction was held in conjunction with the Central States Numismatic Society’s spring convention at the Renaissance Schaumburg Convention Center in Schaumburg, Ill.

The Heritage offering of the pattern, one of fewer than 20 examples known, is the 54th auction appearance of any Silver Center cent since the first known offering 150 years ago, in November 1862.

The pattern is cataloged as Judd 1 in United States Pattern Coins, Experimental & Trial Pieces by J. Hewitt Judd, edited by Q. David Bowers.

The piece in the Heritage auction is graded Mint State 61 brown by Professional Coin Grading Service. The coin was purchased by Beverly Hills, Calif., dealer Kevin Lipton on behalf of a group of unnamed investors. The winning bid of $1 million was placed via the Internet.

The pattern cent was one of 4,185 lots of United States coins offered by Heritage in five floor sessions.

The third session, Platinum Night, at 7 p.m. Central Daylight Time April 19, comprised 429 of the top lots from the entire auction.

A 15 percent buyer’s fee was added to the final hammer price of each lot won.

Prices realized for the auction, including the buyer’s fee, totaled $22,867,108.75, with 95.3 percent of the lots offered reported sold.

For more details about the auction, visit Heritage Numismatic Auctions online at www.ha.com; write the firm at 3500 Maple Ave., 17th Floor, Dallas, TX 75219-3941; or telephone Heritage either at 800-872-6467 or 214-528-3500.

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