Thursday, December 12, 2013
The Associated Press
(Continued from page 1)
This image provided by Heritage Auctions shows an authentic 1913 Liberty Head nickel that was hidden in a Virginia closet for 41 years after its owners were mistakenly told it was a fake. The nickel is one of only five known and expected to sell for $2.5 million or more in an auction conducted by Heritage Auctions in the Chicago suburb of Schaumburg, Ill., on April 25, 2013.
"The sad part is my mother had it for 30 years and she didn't know it," Cheryl Myers said. "Knowing our mother, she probably would have invested it for us. She always put her children first."
Since its authentication, the Walton nickel has been on loan to the Colorado Springs museum and has been publicly exhibited nationwide.
The coin will be up for grabs at a rare coin and currency auction.
Todd Imhof, executive vice president of Heritage, said the nickel would likely attract lofty bids that only a handful of coins have achieved at auction. That includes $8 million paid for a 1933 double eagle, a $20 gold coin, or the world-record $10 million paid Jan. 24 for a 1794 Flowing Hair silver dollar.
"This is a trophy item that sort of transcends the hobby," he said. "It's an interesting part of American history and there are collectors who look for something like this."
Ryan Givens said he's not keen on selling the nickel.
"First of all, it had been in the family for so long," he said. "It's not like something you found in a flea market or something you just found."
Cheryl Myers said they're often asked why they held on to the coin for a decade after they learned it was authentic instead of immediately cashing it in.
"It was righting a 40-year-old wrong," she wrote in an email. By allowing the American Numismatic Museum to display it for the past decade, it was honoring Walton's wishes.
"It has been quite a ride," she said.