In what is being described as the largest single numismatic transaction in history, a collection of over 1,000 U.S. coins sold in November for more than US$30 million. That's roughly A$34 million, and is probably equal to 5-10% of the total annual turnover in Australian coins & notes for 2007!

The coins were acquired by a private collector who has added them to what was already the finest known collection of pattern coins of the United States. If you aren't already aware, patterns are unissued coins that have been produced during the pre-production phase, and often feature designs or dates that arent' seen on circulation coins for one reason or another. Several Australian pattern coins that may ring a bell with you are the Kookaburra square pennies and halfpennies, the 1937 patterns (Penny though to Florin), or the 1853 sovereign and half soveriegn pair.

The successful US collector wishes to remain anonymous, however goes my the name of Simpson, and lives in the Western United States. US$30 million is quite a sum, clearly he isn't heavily invested in the sub-prime real estate market.

Category: Market News