“Old Penny” Collects $14,000… Selling On eBay.
Recently an Old Penny selling on eBay ignited a bidding war among collectors wanting ownership of the rare cent. When it was over, the final bid had risen to $14,552, for a single penny. (1856 U.S. Flying Eagle)
The eBay auction counter recorded over 500 visitors checking-in to see what bidders were battling over during the 10 day auction. Nine bidders had (collectively) placed 23 bids before the auction ended.
According to James Massey, publisher of WhatSellsBest.com, a free website tracking top selling eBay items. “Even in our current economy, collectible pennies appear to be in high demand. More than 30 Lincoln Wheat Pennies have fetched final (eBay selling) prices between $2,000 - $8,000 in the last 90 days.”
While pennies collecting the highest prices are often rare, and rated as being in excellent to mint condition. Flawed pennies are also favorites of collectors. (Provided the flaw happened during the minting process) Several “flawed” U.S Lincoln pennies recently received final eBay selling prices in the $1,000 to $2,000 range.
Massey added; “Some holders rare pennies probably have no idea they own them. They might have them stored away in a jar, or even mixed in with pocket change. It’s unfortunate, because these days it usually only takes a few minutes to get a general sense of (monetary) value using free online sites.”
To see “the Penny” mentioned in this article, or get free information on how to check the market value of your items: Visit WhatSellsBest.com or use the links below.
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