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The coin sold for $506,250 in an online auction that concluded Sunday, according to Ian Russell, president of GreatCollections, an auction house based in Irvine, California.
The GreatCollections.com website launched in late 2010, facilitating the sale and purchase of coins and paper money in online auctions. [6] It has since become well known for auctioning rare examples of American currency, [7] [8] such as the Cigarra Collection, [9] and a collection of Indian Head nickels that sold for over $500,000. [10]
The speculator might hope to buy the coin in large lots and sell at a profit within weeks or months. [13] Speculators may also buy common circulation coins for their intrinsic metal value. Coins without collectible value may be melted down or distributed as bullion for commercial purposes.
Many history and cultural museums have large numismatic collections (coins, money, and tokens). Some museums are specifically dedicated to the history of money or coins, while others have major collections amongst other material. Many small museums often have important collections of coins from their local area or important archaeological sites.
The dime, struck by the U.S. Mint in San Francisco in 1975, is so valuable because it is just one of two dimes missing an "S" mark for San Francisco.
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