Insight & Analysis

The value of this coin is no fake news

Published: May 2018

‘Fake’ coin is worth millions.

A coin collector has become an overnight millionaire after finding out that his 1854-S Half Eagle $5 coin is genuine. This is after being told that it was fake when he first had it appraised.

The coin, produced by the San Francisco Mint at the height of the California Gold Rush, is the holy grail for coin enthusiasts. The Mint only struck 268 coins and it is believed that less than five have survived.

Mark Salzberg, Chairman of the Numismatic Guaranty Corporation (NGC), the world’s largest rare coin authentication company, which confirmed its authenticity said: “It’s like finding an original Picasso at a garage sale. It’s the discovery of a lifetime.”

NGC President Rick Montgomery added: “Our initial reaction on examining the coin from New England was utter disbelief that a rarity of this magnitude could still be discovered in this era. But upon seeing the coin in person for the first time it was apparent that the coin is genuine.”

It is always good to get a second opinion, especially when millions of dollars are at stake.

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