Retired St. Louis lawyer Eric P. Newman just sold his coin collection for a staggering $23 million. It contained nearly 2,000 coins that Newman had been collecting for 90 years. He is 102 years old. (Via YouTube / coinweek)Newman began collecting in the 1930s.
KWTX reports Newman paid just $7,500 for the 1,800-piece collection back then.
Quite the profit margin.
This isn't the exact coin, but Newman did get $910,625 for a pristine-condition 1795 U.S. silver dollar. He got $822,500 for one from 1799. (Via CoinFacts.com)
A rare quarter dollar from 1796 fetched $1,527,500. Newman paid $100 for it. (Via CoinFacts.com)
The auction took place in New York City. And The International Business Times reports the money will go to the Eric P. Newman Numismatic Education Society.Numismatics is, of course...the study of coins.