Million-Dollar Coin Should’ve Been Buffaloed; Experts Aren’t
BALTIMORE — A million-dollar mystery was solved Wednesday when experts certified that a nickel that had been missing for decades is the fifth 1913 Liberty head nickel.
Relatives of the late George Walton, a North Carolina coin dealer, took the coin to the American Numismatic Assn. convention that opened Wednesday. The relatives did not want to be identified.
Family members put the coin away after Walton’s death because they didn’t believe it was genuine, said Paul Montgomery, president of Bowers and Merena Galleries, a Louisiana-based coin dealer and auction house.
They decided to bring it out for inspection after learning that Montgomery had offered a $1-million reward for the coin and $10,000 just to be the first to see it.
The association brought six experts together Tuesday. After comparing the coin to four documented coins, they declared the coin authentic.
The family members had no immediate plans to take Montgomery up on his million-dollar offer. However, Montgomery said he would write them a check for $10,000 for allowing him the first glimpse at the specimen.
The Liberty head nickel was replaced by the Indian or buffalo nickel after 1912, Montgomery said. But five Liberty nickels with 1913 dates were minted illegally by a U.S. Mint official, Samuel Brown.
The coins weren’t put into circulation and for many years were considered illegal to own because they weren’t regular issue.
Two of the coins are now in private collections and two are in museums.
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