Rare Nickel Expected To Fetch $5 Million In Philadelphia Auction
Follow CBSPHILLY Facebook Twitter
PHILADELPHIA (CBS) -- How much would you pay for a nickel? It might sound like a strange question, but a nickel in Philadelphia is expected to fetch at least $5 million next week at a local auction.
The nickel is the 1913 Eliasberg Liberty Head nickel and it's only one of five made.
"The detail on this coin compared to the others is amazing. It's sharply struck. It's beautiful. It's lustrous. It's going to make a nice addition to anybody's collection," Melissa Karstedt with Stack's Bowers Galleries told Eyewitness News.
Karstedt is the consignment director and auctioneer with Stack's Bowers, the company selling the rare piece.
"The first time we sold this coin was in New York City and it was part of the Louis Eliasberg Sr. Collection. This coin was the first in the world to break the million-dollar mark," she said.
The famous coin was struck at the U.S. Mint in Philadelphia in 1913. What makes it rare is that 1912 was the last year for the Liberty Head Nickel, however five were mysteriously made in 1913. This one is the most pristine of them all. The opening bid for this 1913 treasure is already exceeding expectations.
"We had a presale estimate from $3 to $5 million and we're very happy days from the sale it has already reached a hammer price of $3.8 million, which is $4.5 million and some change with the buyer's premium," Karstedt said.
The gavel will come down on the rare coin on Wednesday evening at the Pennsylvania Convention Center.
For more information about the auction, click here.
