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Statement from Kevin Lipton

April 2, 2017 in Antique Coins, Auctions, Coins, Collecting, Dollar Coins, History, Investing, News, Numismatica, Numismatics, Rare Coins, Silver, Silver Coins, Silver Dollars, USA Coins

Statement from Kevin Lipton
President, Kevin Lipton Rare Coin, Inc., Beverly Hills, California

 

April 1, 2017

 

Dexter/Pogue 1804 dollar

Dexter/Pogue 1804 Draped Bust dollar

Somewhere over Topeka, Kansas Friday night, while I was flying back to Los Angeles from Baltimore, John Albanese and I jointly purchased the Dexter/Pogue 1804 Draped Bust dollar for $3,290,000. This is actually the second time I’ve owned this historic rare coin. I purchased it with Hugh Sconyers for a then-record price of $990,000 on behalf of the American Rare Coin Fund at Auction ’89 in Chicago in 1989.

I bought the coin this time strictly the way I buy everything: on a basis of opportunity. In my opinion, this was the best buy of a high value rare coin in the last 20-plus years. It was a moment of opportunity. I don’t have any customers for it, I just want to enjoy it now.

When opportunity knocks, you have to be there to answer.  I was expecting this coin to sell for between $4 and $5 million, and was stunned at this kind of opportunity to acquire it for less than $3.3 million.

John (Albanese) and I have been friends and have done business together for decades. He is one of the most respected numismatists in the world, and was an original co-founder of both PCGS and NGC as well as CAC. We are both excited and happy now to own one of the world’s most famous rare coins.

 

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