A nice story....

Started by Nightparrot, February 02, 2014, 09:37:19 AM

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Fulvio

QuoteMcConnell said he never thought about doing anything differently, telling the station, "When we misjudge something, it's only right of us to then to go make that right."

Can't think of too many aussie dealers who would do that, and split $2 million. Most would laugh all the way to the bank. :(
http://fulvio55.altervista.org/ - Decimal Mintages and Polymer Notes PDFs
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nealeffendi

The dealer had purchased in good faith and without any attempt to deceive the seller at the time of sale. It would not be unsporting to keep 100% of the auction result, but it is nice he decided to split the payoff.
I doubt the coin will make 2 million, off metal cents struck on foreign blanks are always coming up for sale, I bid on a US dime struck on a sixpence blank a few months back and it sold for about $1,000. (Heritage Auctions)  
To me it is suspicious that the guys father had worked at the mint, same as the "foreign orders" that came out of RAM for many years involved less than honest mint staff.

Ozcoins

I noticed the connection with a mint worker too.
That does imply that the coin was made/taken by the mint worker.

emu666


Sapyx

When the price of copper soared in the 1970s, the Mint recommended to Treasury (and the politicians) that the cent be made from aluminium instead of bronze. They were so sure their "suggestion" would be accepted that they started production in aluminium, in anticipation of Treasury orders - orders that never came. But by the time the politicians nixed the idea, they'd already produced over 1.5 million of the things. All but a handful were later destroyed.

However, only one mint entered a production run of aluminium cents: Philadelphia. Denver dies were made and "about ten" trials were struck, but this new example was not simply pulled off the shop floor of a production run or pocketed by a senator's aide. So, unlike the "Toven specimen" 1974-plain aluminium cent, this new coin much more properly fits into the category of "trial piece" or "pattern". And it was almost certainly "souvenired" by the mint worker in question.
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nealeffendi

1.5 million is still a trial run. The regular production back then was 5 billion/year (so about 20 million every working day).
Souvenired is a polite way of saying it was illegally removed. Promising to donate $100,000 to charity might be a smart way to get public support on your side. Might stop the Secret Service paying a visit to recover stolen property (seizing Gold Double Eagles being an example of their actions) as they wouldn't want to be seen as the big bad guys denying a charity of needed funds.