British penny sells for $179,000 in California

[OldCurrencyExchange 1]

Last Friday, a British 1933 penny was sold at auction, by Heritage Auctions, in Anaheim, California at the ANA World’s Fair of Money for US$ 179,000

 

This equates to €174,411.06 or GB£151,920.22

 

I cannot help wondering if this coin might have sold for more money if offered for sale in a British auction.

 

What was the logic behind selling it via an American auction house in California?

 

Did the post-Brexit dip in the value of Sterling adversely affect the bids from the UK?

 

For more info on this extremely rare coin, see https://oldcurrencyexchange.com/2014/08/20/rare-coins-the-1933-british-penny/

[Paulus 1,979]

All the serious UK based penny collectors will have been aware of this sale, the $ vs £ rate may have affected the UK bidding slightly. I thought it would go for far more.

[Nordle11 564]

Me too, I thought it would at least reach £200k..

[azda 981]

Most penny collectors won't have that type of money to buy such a rarity, it virtually equates in price to a Una and the Lion, it was only ever going to sell to someone with very deep pockets either a collector or investor, it may have still ended up in British hands but I wouldn't like to be paying the import duty on it

[Nordle11 564]

Yes it's definitely more of an investment item than a collection item, would be nice to have it back in UK though. Stop stealing all our good coins @RLC35  

[PWA 1967 2,246]

The coin is in the UK were it belongs 

[Nordle11 564]

Good job Pete, now please stop buying all the pennies or I'll have to switch to farthings 

[Chingford 166]

1 minute ago, PWA 1967 said:

The coin is in the UK were it belongs 

And previous owner was American

[azda 981]

I would think someone like Ira and Larry Goldberg would be potential buyers as they are often buyers of very rare British coinage. I seem to remember they had and Edward VIII proof set once upon a time

[VickySilver 883]

Bit out of my league, that one. I also thought it would go 200+.  When will another come along?