1,800 rare US coins sell for $23M in NYC auction - Los Angeles News | FOX 11 LA KTTV

1,800 rare US coins sell for $23M in NYC auction

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NEW YORK (AP) - Nearly 2,000 rare American coins amassed over 90 years by a 102-year-old Missouri collector have sold for $23 million at a two-day New York City auction.

Heritage Auctions Co-Chairman Jim Halperin says Sunday retired St. Louis lawyer Eric P. Newman began collecting in the 1930s, only paying about $7,500 for the 1,800 piece collection.

Halperin says a 1795 U.S. silver dollar in almost pristine condition sold for $910,625 and another one from 1799 sold for $822,500 in the online and in-person auction.

He says a rare quarter-dollar from 1796, the first year the denomination was produced by the U.S. Mint, sold for $1,527,500. He says Newman paid only $100 for it.

Proceeds from the sale will go toward supporting the Eric P. Newman Numismatic Education Society in Missouri.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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