PITTSBURGH – Chump change it isn’t.
A silver dollar insured for $10 million and nickels worth as much as $3 million each are among the $1 billion in coins on display at the American Numismatic Association’s World’s Fair of Money, which opened Wednesday.
Through Sunday, as many as 16,000 people are expected to stroll through the David Lawrence Convention Center to buy, sell or gawk at coins – from a half-cent coin to a $100,000 bill.
The 1794 coin is believed to be the United States’ first silver dollar, and two of the five existing 1913 Liberty Head nickels are on display.
The U.S. Mint also gave conventioneers a glimpse of the designs being considered for the next round of special-design nickels. And the U.S. Treasury’s Bureau of Engraving and Printing placed on display the newly designed $50 bill, which goes into circulation in September.
Like any other collectibles, supply, demand and condition are factors that determine the value of a coin, American Numismatic Association spokesman Donn Pearlman said. A 100-year-old Indian Head penny could cost anywhere from $1 to thousands of dollars, depending on its condition, he said.
But old doesn’t necessarily mean valuable. A 2,000-year-old Roman coin might be worth $25, while a 100-year-old coin might be worth $1 million or more, Pearlman said.
One of the most coveted items at the event is the Neil/Carter/ Contursi 1794 Silver Dollar. Researchers and other experts said while it is impossible to unequivocally say the coin was the very first silver dollar struck in the United States, it probably was the first.
“This coin is to our economy and international trade what the Declaration of Independence is to our country’s freedom: a significant piece of history and a national treasure,” said Steven Contursi, president of Rare Coin Wholesalers and owner of the coin.
Associated Press
A 1794 silver dollar, which may be the first ever made by the United States, is the star attraction at the World’s Fair of Money in Pittsburgh.
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