A rare coin, insured for $8 million, will be displayed in Long Beach this weekend after not having been seen by the public in 30 years. Photo courtesy of Long Beach Expo
Long Beach strikes gold this weekend when a rare gold coin—insured for $8 million—goes on display at the Long Beach Coin, Currency, Stamp and Sports Collectible Expo at the Long Beach Convention Center.
The coin, owned by a real estate developer in Dallas, Texas, is 193 years old and has not been publicly seen for more than 30 years until this weekend, when it makes its debut in Long Beach. It is one of only three 1822-dated U.S. $5 denomination gold coins known to still exist. The other two are part of the Smithsonian’s famous collection in Washington, D.C.
“United States Mint records indicate that 17,796 Half Eagles ($5 denomination gold coins) were produced in 1822 at the Philadelphia Mint, but today only three survivors are known. Two of those coins are part of the permanent collection in the Smithsonian’s National Museum of American History,” said Don Willis, president of Professional Coin Grading Service (PCGS) in Santa Ana, the company that recently authenticated and certified the coin, in a statement.
The last time the coin was publicly seen was in 1982 when it was purchased for $687,500 by Dallas-based real estate developed D. Brent Pogue.
Some of the half-dozen previous owners include Virgil M. Brand, an early 20th century Chicago beer baron, and Louis E. Eliasberg, a Baltimore banker known by collectors as the “King of Coins.”
The Expo, which features more than 500 collectibles dealers, takes place today through Sunday at the Long Beach Convention Center. Use the entrance located at 100 S. Pine Ave. Admission is $8 for adults, and $4 for seniors and children aged eight to 16. Children seven and under are free.
For more information about the event, click here.
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