Legend Numismatics Acquires Mickley 1793 AMERI. Chain Cent Valued at $2+ Million

by Legend Numismatics on March 24, 2011 · 0 comments

Legend Numismatics of Lincroft, New Jersey is pleased to announce the purchase of a world-class partial Type set that has been off the market for many years.

Mickley 1793 AMERI. Chain Cent

PCGS TrueViewSM images of the obverse and reverse of the Mickley specimen 1793 AMERI. variety (S-1) Chain cent certified PCGS Secure Plus SP65. Photo credit: Professional Coin Grading Service.

This set contains a number of spectacular rarities in superb condition. Included in the set is the famous Mickley 1793 AMERI. Chain cent in PCGS Specimen 65. This is the finest AMERI. Chain cent ever graded by PCGS and is valued at over $2 million.

Other highlights include a run of some of the finest-known proof Morgan dollars including the mindboggling 1893 Morgan dollar in Proof 69 DCAM; an 1836 Gobrecht dollar in PCGS Proof 66, the finest graded at PCGS; a 1856 Flying Eagle cent in Proof 67, pop 1 none finer; and several toppop proof gold pieces.

"The circumstances of this purchase were extraordinary," said Laura Sperber, Legend Numismatics partner. "The owner of the coins was a neighbor of one of the Legend partners, Bruce Morelan. Bruce discovered the extent of his neighbor’s collection completely by accident.

It turned out to be a lucky coincidence for everyone involved. Legend has known about most of these coins for years and we have always had an interest in owning them. The negotiations were short and the collection was purchased outright for several million dollars. Legend and Bruce Morelan had to own these coins; fortunately it all worked out."

1793 AMERI. Chain 1C holder PCGS Secure Plus SP65

The Mickley specimen 1793 AMERI. variety (S-1) Chain cent certified PCGS Secure Plus SP65. Photo credit: Professional Coin Grading Service.

"PCGS was thrilled to see a collection of this caliber. We see a great many coins, but we are always excited to examine some of the finest coins ever minted," said Don Willis, President of PCGS. "This group of spectacular coins was highlighted by the Mickley 1793 AMERI. Chain cent graded Specimen 65 by PCGS. 

The pedigree of the Mickley chain cent includes many famous collectors and dealers such as Edward Cogan, W. Elliot Woodward, Lorin Parmelee, Virgil Brand, Harold Bareford, Herman Halperin, R.E. Naftzger and several others. The superb condition that the coin remains in today is a testament to the great care all of these individuals exercised over the years. Congratulations to Bruce Morelan for adding this amazing coin to his world-class type set!"

These coins can be viewed on Legend’s website, www.Legendcoin.com or you can contact Legend at 800-743-2646.

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