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Beverly Hills man pays most ever for a penny: $2.5 million
Beverly Hills man pays most ever for a penny: $2.5 million

One of the rarest pennies cost a Beverly Hills man a pretty penny. At an auction last Thursday, Kevin Lipton shelled out $2,585,000 for the Birch Cent, a penny made in 1792 that is named after its engraver, Robert Birch. It's the most money ever paid for a one-cent piece. And yes, he said, the purchase made sense. “It’s like our very first penny,” Lipton, 55, told the Los Angeles Times on Sunday. “It’s such a spectacular coin. It’s so important, so rare.” The coin is among 10 similar coins known to exist that were experimentally produced after the founding of the U.S. Mint, said Jim Halperin, co-chairman of Heritage Auctions. It...

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