You never know what you may find at a flea market. Between all the junk, used merchandise, and yard sale pickings, sometimes one lucky duck will find a valuable item and barely pay half of what it’s actually worth. That’s exactly what happened to someone at a French flea market.
One smart, attentive buyer in Europe was making his way through a jar filled with old coins and medals at the market, when one coin in particular caught his eye. He only paid 50 cents to the vendor and took the coin home, and later found the coin to be worth $97,500.00. Now that’s what I call a bargain!
The Proper Steps for Appraisal
According to a statement released on February 14th by Professional Coin Grading Services (PCGS), it is not uncommon to find these trinkets at yard sales, antique shops and flea markets across Europe. What is unique is finding one that is the real deal, so to speak. PCGS graded and analyzed it, and then sent it to the United States, where its origins were verified.
“The seller had a cookie box full of coins and medals for sale and, while the buyer was looking through it, the seller pulled out another box of coins with this coin on top,” PCGS wrote in the statement. “The buyer unfamiliar with this piece asked for a price, and the seller said 50 [Euro] cents. The coin was purchased, and the new owner later Googled ‘Continental Currency’ and ‘1776’ to discover what he had. Believing he had found a treasure, he took it to a local coin dealer for authenticity, who was unsure and suggested he send it to the United States for authentication.”
Finding the Real Value
A telltale sign of the coin’s real heritage were the designs engraved on either side. On one side, there was a sundial and three rings, along with the words “Continental Currency” inscribed in the pewter. On the other, there were 13 chain links, each of which had the name of one of the 13 colonial states inscribed on it, and in the centre was a circle, symbolizing a unified nation. There were also three words inscribed, “We Are One,” referring, of course, to the “one nation under God” motto of America.
PCGS added that it’s unclear where Continental dollars were made. Some experts believe they were “made as satire by England” in an effort to mock the currency of the newly formed U.S. Despite that, these coins are still rare and valuable. “While the origin of these pieces is still under debate, the 1776 Continental Dollars are important early coinage celebrating the birth of the brand-new nation of the United States,” PCGS wrote.
Rare coins are big business. Last year, an extremely rare half-dollar coin from 1838 was sold at auction for $504,000. An extremely rare 1894 dime, one of only 24 minted and once owned by former Lakers owner Jerry Buss, was also sold at auction for $1.32 million last year. You never know what you might find at a flea market, and that’s why it makes meandering through them so much fun.