2016-08-26 Fri

Two rare 1792 one-cent copper coins were sold for a total of $869,500 at the Anaheim auction. The Birch Cent, sold for $517,000 and the Silver Center Cent, went for $352,500. Organisers estimated the combined sale to top 1 million but were happy with the end result. Officials stated that the coins have historical significance and reflect the transition in American history from the Colonies to a new republic. They were developed by the Founding Fathers to differentiate themselves from British coinage.

The words “Liberty Parent of Science & Industry” on the coins suggest that the U.S. was not in favour of the religious persecution and monarchy it associated with Britain. It is among the very first coins ever struck by the U.S. Mint in Philadelphia.

The coin went missing and was finally discovered in an English pub in the 1960s by a gentleman called Nigel Willmott who auctioned it off for 28,750 British pounds in 1997.

The penny had a small insertion of silver at its centre to make its intrinsic value equal to its face value. Only 12 such coins exist today!