2018-08-18 Sat

A 1792 gold eagle George Washington coin was sold for $1.7 million by Heritage Auctions, the proceeds of which will be donated for a charitable cause.

Experts believe that the coin was handed over to George Washington by the US Mint as a sales pitch to get a contract for producing U.S. coinage. Only one such coin exists today and it was kept as a memento by the first US president. It features a portrait of Washington on the obverse and an eagle on the reverse. The coin has a lot of historical significance. The US Mint got permission to strike coins in 1972. Copper and silver coins were produced in 1973 featuring Lady Liberty on one side and a bald eagle on the other.

George Washington never wanted his portrait on coins that were to be used by the public, making this coin very special. Before the coin was sold it was with Eric P. Newman who acquired it in 1942.

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