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Cent pattern sells for $660,000

One of nine known copper pattern cents of 1792 changed hands in a private transaction announced July 21.
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An anonymous buyer paid $660,000 for a copper pattern cent of 1792, Judd-2, Pollack-2, to Heritage Auction Galleries of Dallas in a private-treaty sale announced July 21.

Heritage bought the coin from Denis Loring and Donna Levin of Singer Island, Fla. The pair of copper specialists had originally purchased it in 2005 when as a newly discovered piece, it had sold in an Ira and Larry Goldberg Coins and Collectibles auction. They paid $437,000, with Anthony Terranova acting as the public bidding agent.

One of nine known, the pattern is made of copper. It features Liberty facing right with ?Liberty Parent of Science & Indust(ry)? around it. The 1792 date is below. Others are known with a silver center.

The coin belonged to Oliver Wolcott, a signer of the Declaration of Independence and a member of the Continental Congress, 1775-1778 and 1780-1784. His descendants brought it to the Pittsburgh American Numismatic Association convention in 2004 and it was authenticated by the Professional Coin Grading Service, which graded it VF-30.

Though the identity of the buyer could not be coaxed out of Heritage President Greg Rohan, he did call him ?an East Coast energy company executive.?