January 30, 2013

Nothing nickel and dime about this coin

A long-ago misdeed at the mint adds millions to worth of a 5-cent piece.

The Associated Press

(Continued from page 1)

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The lady in the Liberty Head nickel is lying about her age, as she was really minted one year before 1913, but that just makes her all the more valuable to serious coin collectors.

The Associated Press

"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 instead of 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.

 

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