Long Beach Auction story on IWON site.....

[thebeav]

Hi Folks,

Found this story on the Iwon site listed under 'strange news'.....

Long Beach Auction

Strange indeed.....

 

Paul

[MunkyMan95]

Did you listen to the sale on HALive? For some of the coins, the bids were coming as fast as the auctioneer could talk. It sounded like he was counting the seconds rather than taking bids.

 

It was a marvelous collection, and well deserved the return IMO. Several finest known and very rare pieces of copper in that sale.

[Keigwin]

I watched online. It was a stunning display of purchasing power. And fast typing!

 

301 pennies sold for $10.7m. I lost bids on the really early cents. Shallow pockets. But I did scoop up a nice '28-D Lincoln at 40% of numismedia's FMV (or 20% of PCGS's inflated price).

 

 

Lance.

[Norinn Radd]

I heard about this on NPR.

 

http://www.npr.org/templates/story/story.php?storyId=19141322

 

 

Most of the news stories covering this auction aren't very indepth. Here is a good detailed article I found.

 

http://www.latimes.com/news/local/la-me-pennies17feb17,0,901394.story

 

"Husak began squirreling away Buffalo nickels and Indian head pennies as a boy, wheeling and dealing by age 13. After founding an aerospace parts manufacturing company, Husak resumed his hobby in the 1980s, having already sold his coin stash years before for a '54 Cadillac and a down payment on a Chino house. He attributes his show-stopping collection, which was locked away in a bank's triple safe, to luck and timing."

 

""I figured I was just happy to get my money back," he said. "Was I wrong." He estimated that he spent a little over $5 million over time to acquire the coins."