Coin fetches $40,000 in Frankston

FROM:
http://www.hastingsleader.com.au/art..._hsv_news.html

Coin fetches $40,000 in Frankston

Teresa Murphy

21 Jul 08

A RARE Australian coin has sold for $40,000 in Frankston.

Coin dealer John Reeves, of Johns Coins in Wells St,
recently sold a 1930 penny in above-average condition to
a local collector wanting it as an investment.

The previous owner, also local, had the coin for eight
years. "I just asked him if he had one for sale and he
said 'yes'," Mr Reeves said.

It was by far a record sale for the dealer, who opened
in Frankston in 2006.

The same coin, in perfect, or "proof" condition, is
reportedly worth $1 million the highest-value coin in
Australia and the rarest. It is the holy grail for coin
collectors, and only six are known to exist three in
museums and three privately.

Featuring the head of King George V, it is believed only
1500-2000 were struck, though the exact number is unknown.

The last time one changed hands, in 2005, it sold for
$620,000 and the owner last year refused an offer of
$1 million, according to Coinworks in Hawksburn,
Melbourne, and media reports at the time.

Australia's first coin is the Holey Dollar, made in 1813
from Spanish silver coins with a hole punched in the
middle. The centre is worth a fortune today.

But beware Ebay is selling copy 1930 pennies, from 99c.


....

On Jul 21, 8:31*am, "Arizona Coin Collector"
wrote:
FROM:http://www.hastingsleader.com.au/art..._hsv_news.html

Coin fetches $40,000 in Frankston

Is that Fwankie's home town?