Spectacular mint error brings impressive price realized in spirited bidding in Heritage Auctions Tampa, FL Florida United Numismatists (FUN) Convention auction
TAMPA — A singular and spectacular U.S. Mint error coin, a Roosevelt Dime struck on a zinc-coated sixpenny nail — graded MS65 PCGS – sold for $42,300 on Jan. 6, 2016, in Heritage Auctions’Florida United Numismatists (FUN) U.S. Coins Signature® Auction in Tampa, FL. The pre-auction estimate on the “coin” was $10,000+.
It was purchased by a prominent American collector of many kinds of collectibles across a wide range of categories.
“Significant error coins are among the most sought-after in the hobby,” said Greg Rohan, President of Heritage Auctions, “as evidenced by the spirited bidding among collectors over this coin. This is certainly among the most unique and mysterious errors to ever come to auction. The truth is, no one really knows how or why it was struck.”
What is known is that the zinc-coated sixpenny nail found its way into the coinage production line during the minting of Roosevelt dimes – the specimen is undated – and apparently escaped through normal distribution channels.
This coin struck onto a nail is not the first coin to have such a distinction. A few examples of cents struck onto nails were discovered in the 1970s. The total number of similar errors, including this one, is thought to be approximately six