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OldCurrencyExchange

British penny sells for $179,000 in California

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Last Friday, a British 1933 penny was sold at auction, by Heritage Auctions, in Anaheim, California at the ANA World’s Fair of Money for US$ 179,000

 

This equates to €174,411.06 or GB£151,920.22

 

I cannot help wondering if this coin might have sold for more money if offered for sale in a British auction.

 

What was the logic behind selling it via an American auction house in California?

 

Did the post-Brexit dip in the value of Sterling adversely affect the bids from the UK?

 

For more info on this extremely rare coin, see https://oldcurrencyexchange.com/2014/08/20/rare-coins-the-1933-british-penny/

1933 British Penny (rare).jpg

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All the serious UK based penny collectors will have been aware of this sale, the $ vs £ rate may have affected the UK bidding slightly. I thought it would go for far more.

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Me too, I thought it would at least reach £200k..

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Most penny collectors won't have that type of money to buy such a rarity, it virtually equates in price to a Una and the Lion, it was only ever going to sell to someone with very deep pockets either a collector or investor, it may have still ended up in British hands but I wouldn't like to be paying the import duty on it

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Yes it's definitely more of an investment item than a collection item, would be nice to have it back in UK though. Stop stealing all our good coins @RLC35 :D 

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Good job Pete, now please stop buying all the pennies or I'll have to switch to farthings :ph34r:

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1 minute ago, PWA 1967 said:

The coin is in the UK were it belongs :)

And previous owner was American

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I would think someone like Ira and Larry Goldberg would be potential buyers as they are often buyers of very rare British coinage. I seem to remember they had and Edward VIII proof set once upon a time

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Bit out of my league, that one. I also thought it would go 200+.  When will another come along?

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