Tuesday, January 02, 2007

No auction bidders for rare nickel shown by New York gallery (Newsday)

ORLANDO, Fla. (AP) _ A rare nickel, shown by a New York gallery and thought to be worth about $5 million, didn't fetch a cent at auction Tuesday. The coin was one of five known 1913 Liberty Head nickels. New York-based Stack's Rare Coin Galleries showed the nickel, which was struck clandestinely at the Philadelphia mint after its design was retired.

Bidding started at $4.5 million, but no one made an offer for it.

The coin's owners said they weren't disappointed. . . .

(A.C. Dwyer comment: I'm sorry, you buy a rare nickel for over $4 million dollars almost two years ago. Newspaper articles all over the country cover the auction commenting on how you "hope to make millions." You then try to sell if for a minimum of $4.5 million and get no takers. You have to be disappointed! $4.15 million put into a 5% APR CD for those two years would have done better than the $4.5 million!)

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