PCGS-Certified Coin Sells For $3.17 Million At Auction, Gold Coin Comments

The world-famous Walton Family 1913 Liberty head nickel was sold to a duo of investors on April 25 through Heritage Auctions.
By: GoldCoin.net
 
DALLAS - May 1, 2013 - PRLog -- Heritage Auctions and the Central States Numismatic Society have just finalized the sale of one of only five known Walton Family 1913 Liberty Head nickels, and the winning bid of $3,172,500 was paid by a duo of U.S. collectors. Jeff Garrett of Lexington, Kentucky, and Larry Lee of Panama City, Florida, agreed on  April 25, 2013 to purchase the rare coin, which has been certified as a PR63 by the Professional Coin Grading Service (PCGS).

“This was yet another remarkable moment for a coin that has generated nationwide and worldwide headlines since Collectors Universe first announced a search for it in 2003...it emerged from hiding and was authenticated,” said PCGS co-founder and president of Collectors Universe, Inc., David Hall. “We are honored that the Walton family selected PCGS to certify the authenticity and grade of this famous coin.”

According to Coinweek, the coin first made headlines in 1962 when it was recovered from the scene of a car crash that killed collector George Walton. Walton’s heirs submitted the coin for authentication but it was mistakenly labeled as a fake. Walton’s sister, Melva Givens, kept the “fake" coin in a closet in Salem, Virginia, for decades.

Givens’ children eventually heard about the missing “Walton example” nickel and brought it to the American Numismatic Association’s (ANA’s) World’s Fair of Money convention in Baltimore, Maryland, in 2003. It was decided by a team of nuimismatists that the coin was genuine. “The second I saw it, I knew it was real,” Hall recently told The New York Times.

Although coin collecting can sometimes translate into large profits for collectors, the Walton nickel story is an exception to the rule, according to Stewart Lawson, vice president of marketing for Gold Coin. “The majority of profits in the coin market comes from gold and silver coins, especially the pre-1933 U.S. gold coins," Lawson said. “It is possible to make money with collector coins, but the average investor or collector will find it practically impossible to jump into the market and make any money."

Gold Coin (GoldCoin.net) has over two decades of experience advising household investors on smart physical gold and silver investments and gold coin IRA and 401k plans. They buy and sell all types of precious metals and offer free home delivery. For more information or a free “Gold Coin Starter Kit,” visit http://www.goldcoin.net or call 1-800-425-5672 today.
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Source:GoldCoin.net
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