Rare nickel fails to fetch a cent at auction
Wednesday, January 3, 2007 | 02:29 PM ET
The Associated Press
A rare nickel, thought to be worth about $5 million US, did not attract any investors at auction Tuesday.
The coin is one of five known 1913 Liberty Head nickels. New York-based Stack's Rare Coin Galleries put the nickel on the block on Tuesday.
Bidding started at $4.5 million US, but no one made an offer.
"But we aren't disappointed. We've very happy to still own the coin," said Laura Sperber of Legend Numismatics New Jersey. She is a minority owner of the nickel.
Last year, the same coin was sold in New Hampshire for $4.15 million to one of its current owners, Bruce Morelan, a lifelong collector of coins.
It was struck clandestinely at the Philadelphia mint after its design was retired.
Liberty Head nickels were minted from 1883 to 1912. The design was retired and replaced by nickels depicting an American Indian on one side and a bison on the other.
The highest known price paid for a rare U.S. coin was $7.59 million in 2002 for a 1933 $20 gold piece.
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