Long lost coin turns up for reward

Deirdre Newman

A hall closet, the black hole of a home, has yielded a historic and

lucrative find in rare coins, thrusting company Collectors Universe

in Newport Beach into the limelight.

The discovery Wednesday of a 1913 Liberty head nickel has rocked

the world of rare coin collectors, said David Hall, president of the

grading division of the company. The nickel was missing for 40 years.

“All the stars aligned, and everything’s wonderful for coin

collectors,” Hall said. “It’s a very magic moment.”

Liberty head nickels were minted from 1883 to 1912. In 1913, five

of the coins were minted illegally, but they were not put into

circulation.

Another specimen of the 1913 Liberty nickel was the first rare

coin ever to sell for more than $1 million at an auction, back in

1996. The rare coin auction division of Collectors Universe offered a

$1-million reward for the missing 1913 Liberty nickel about two

months ago based on that auction price, Hall said. The division also

offered $10,000 to be the first to view the coin.

The coin had been sitting in the hall closet of relatives of the

late North Carolina coin dealer George Walton, who are asking that

they not be identified. They thought the coin was counterfeit based

on an auction house appraisal in 1962. They decided to bring the coin

in for inspection after hearing of the reward offers and have

accepted the $10,000 reward.

Hall was one of six experts from the grading and auction divisions

of Collectors Universe who examined the coin and declared it to be

the real McCoy.

“We didn’t think it would turn up, but we actually are beyond

delighted that it did, and it’s probably the best $10,000 we ever

spent,” Hall said.

The company is talking with the family about purchasing the coin

from them.

The coins are being displayed at the American Numismatic Assn.

Convention of coin collectors in Baltimore. This is the first time

the missing coin has been publicly displayed with the other four

Liberty nickels since 1920, Hall said.

* DEIRDRE NEWMAN covers Costa Mesa and may be reached at (949)

574-4221 or by e-mail at deirdre.newman@latimes.com.