DreamFLight911 Posted November 20, 2010 Report Share Posted November 20, 2010 Is penny worth $3 million? By Barrett J. Brunsman • bbrunsman@enquirer. com • November 17, 2010 BETHEL - Ken Mason laughed at the notion that a penny he sold for $25,000 in 1972 might be worth $3 million today. He has no regrets about parting with the 1936 coin, which might be unique because of a minting error. "It's got heads and tails on the same side," Mason said. "Some supposed experts say it's a fake," said Mason, 77, who said he found it in 1960. "If I don't ever get a penny more out of that penny, it ain't going to worry me to death." However, the sock drawer in which Mason once kept the Lincoln penny was traded Wednesday for the keys to a 1979 Cadillac. The man who proposed the deal was Dan Wilkins, a Californian who bought the penny from Mason 38 years ago. Wilkins figures the penny is worth $3 million now - based on the value of other rare coins. "I have never put it up for sale, (but) it's one of a kind," Wilkins said. "I never questioned it's authenticity." The front of the penny supposedly shows both the head of Abraham Lincoln and the wheat stalks that normally are on the back. "It looked like it got stuck in the die, and it got re-stamped," said Wilkins, 64. "It's totally ridiculous (that some) think it's a fake," Wilkins said. "It's jealousy." Fred Weinberg, a respected dealer in so-called error coins, is among those who think the penny isn't worth much - if anything. Weinberg said Wilkins was in his office two years ago but wouldn't allow him to see the coin, which prevented him from authenticating it. But "from the photos he showed me in my office, the coin is without a doubt 1,000 percent damaged," Weinberg said. "It is NOT a genuine mint error." So-called double struck coins are worth $300 to $500 in general if genuine, said the dealer, who is president of Fred Weinberg & Co. Wilkins confirmed that he had met with Weinberg. "They claim it's a man-made coin, probably," Wilkins said of cynics. Wilkins said he wanted the sock drawer where the penny had been kept by Mason to use in a display for the coin. He hopes to create a traveling museum. "People would come to see the most famous penny in the world," Wilkins said. "If it were fake, it's still a celebrity." "I was a barber from 1956 to 1970," Mason said, explaining how he came across the coin. "I dealt Quote Link to comment Share on other sites More sharing options...
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