Rare American Cents Auction Nets $10.7M

February 24th, 2008 by admin | Filed under offbeat news.

A Rare American coins collection of Burbank resident Walter J. Husak was sold in an auction that nets to $10.7 million.

The collection of 301 cents featured some of the rarest and earliest examples of the American penny, including a cent that was minted for two weeks in 1793 but was abandoned because Congress thought Lady Liberty looked frightened.

That coin and a 1794 cent with tiny stars added to prevent counterfeiters each raised $632,500, according to the Dallas-based auction house Heritage Auction Galleries, which held the sale in Long Beach on Friday night.

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