As the saying goes, a penny saved is a penny earned. As another saying goes, a nickel saved is worth about 4 million bucks.
According to reports, Russell paid a whopping $4.2 million for the coin. Clearly, this nickel is worth a lot more than five cents.
What makes it so special? Well, for starters, it is one of only five known 1913-dated Liberty Head-designed nickels. Two of the others are in museums.
This particular coin has a little history, too.
Rare Century-Old Nickels Sold For $4.2 Million
“This famous coin was once owned by North Carolina collector George O. Walton who was killed in a 1962 car crash. It was recovered from the crash, but his heirs were mistakenly told it was a fake,” Russell said, via PR Newswire. “Walton’s sister in Virginia kept it in a closet for decades.
“The coin was off the radar until 2003 when a nationwide search was conducted, and Walton’s nephew and nieces submitted it for authentication to experts at Professional Coin Grading Service.”
The coin was eventually auctioned by Walton’s family, for $3.1 million, in 2013. The Firman family of Florida then bought it in 2018 for an undisclosed price.
For those doing the math at home, $4.2 million is more than $3.1 million. We’re guessing it’s more than the sum the Firman paid for the coin as well.
“Our family thoroughly enjoyed owning the Walton nickel for the past four years and it was fulfilling for us to have it on display at the American Numismatic Association Money Museum in Colorado and in exhibits across the country during this time,” Ron Firman said, via PR Newswire.
Oh, and this is the second such coin purchased by Russell. In other words, this is a man with a lot of nickels.
“Two of the five known 1913 Liberty Head nickels are in museums; one in the Smithsonian’s National Numismatic Collection and another example still at the ANA Money Museum in Colorado,” he said. “This is the second one that I purchased in the past year on behalf of collectors, but I doubt if any of the three 1913 Liberty Head nickels now in private hands will become available again for years.”