Rare US silver dollar coin sold for $12M by Las Vegas man

[ARC]

Rare US silver dollar coin sold for $12M by Las Vegas man

GreatCollections Coin Auctions bought a rare silver dollar coin from a Las Vegas man for $12 million with experts saying the coin dates back to 1794.

www.fox13news.com

 

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[pepperj]

That's one beautiful coin. Thanks for the post up of the sale.

 

[RTR]

That's one beautiful coin. Thanks for the post up of the sale.

So IS 12 million

 

[Blak bart]

Holey moley....a dollar turned into 12,000,000 dollars !!

 

[pepperj]

Holey moley....a dollar turned into 12,000,000 dollars !!

Now that's a great way of looking at it Bart.👍
To be honest I looked at it as:
Bought it for $10M in 2013
Sold it for $12M in 2022
$2M profit over the 9yrs

 

[ARC]

Now that's a great way of looking at it Bart.👍
To be honest I looked at it as:
Bought it for $10M in 2013
Sold it for $12M in 2022
$2M profit over the 9yrs

I knew it was you who owned that coin ! ! !

 

[tamrock]

So out of the of 1758 minted only 140 are known to exist. Where could the other 1618 be?

 

[ARC]

I thought i had one once....

but i left it in my car in the summer heat.... and the chocolate came out.

 

[Mackaydon]

Nice coin, but what did the seller net after commission and taxes?
Assume the commission was 10% and his tax was 20% after the commission.
Commission: $1,200,000 leaves $10,800,000.
20% capital gains tax on $2,000,000 gain= $400,000
Leaves $10,400,000; a profit of $400,000 over 9 years; or 44,444 per year; an overall rate of return of 4.44%
If the commission were 15%, that would just about create a 'push' for the transaction.
Just saying........
Don.....
PS: I would have expected a higher price. Does that bode poorly for our hobby?

 

[ARC]

pepper j...

 

[pepperj]

pepper j...

ARC.....

 

[ARC]

Yes ? ? ?.... Rum ? ? ?

 

[pepperj]

Nice coin, but what did the seller net after commission and taxes?
Assume the commission was 10% and his tax was 20% after the commission.
Commission: $1,200,000 leaves $10,800,000.
20% capital gains tax on $2,000,000 gain= $400,000
Leaves $10,400,000; a profit of $400,000 over 9 years; or 44,444 per year; an overall rate of return of 4.44%
If the commission were 15%, that would just about create a 'push' for the transaction.
Just saying........
Don.....
PS: I would have expected a higher price. Does that bode poorly for our hobby?

It all depends, the buyer's premium vs commission. On high end tickets sometimes the % is lower.

 

[ARC]

It all depends, the buyer's premium vs commission. On high end tickets sometimes the % is lower.

Pepper should know beings it was his coin. :P

 

[ARC]

Btw Poppa Pepper... your buying the Rum tonight. :P

 

[pepperj]

Pepper should know beings it was his coin. :P

Gee in buying and selling all my life a not once did I get a single big fish, lots of Krill making up a good catch.
I guess when the ticket item are of this magnitude it takes $$$ to make $$$

 

[E-Trac-Ohio]

Thanks for the post !