Pawn Stars: VERY RARE 1922 COIN IS HOLY GRAIL OF CURRENCY (Season 10) | History

Pawn Stars
29 Feb 202005:57
EducationalLearning
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TLDRIn a remarkable turn of events, John, a poker game winner, brings a 1922 proof high-relief matte-finish coin to Rick, a coin collector. The coin, considered one of the rarest in American history, was unknown to the public for nearly two decades. After verifying its authenticity with a coin grading expert from NGC, Dave, the coin is valued between $50,000 and $100,000. After negotiations, John sells the coin to Rick for $80,000, a significant win from his initial $20,000 asking price.

Takeaways
  • 😀 John won a 1922 high-relief matte-finish coin in a poker game.
  • 💥 Rick considers the 1922 High Relief Peace Dollar one of the 'holy grails' of American coins.
  • 🧳 The coin is exceptionally rare, with possibly only a dozen in existence worldwide.
  • 💸 Rick is shocked people bring items worth $50,000 to $100,000 or more to his counter.
  • 🤔 John initially asks for $20,000 for the coin, but Rick hints it's worth a lot more.
  • 🔍 Rick calls in Dave, a coin expert from NGC, to verify the coin's authenticity.
  • 💰 Dave confirms the coin is genuine and estimates its worth between $50,000 and $100,000.
  • 💵 After negotiation, Rick agrees to purchase the coin for $80,000.
  • 🎲 John is thrilled with the sale, attributing his luck to poker and hopes for similar future finds.
  • 📈 The transaction highlights the coin's historical and monetary value, and the expertise needed to authenticate such rare items.
Q & A

  • What type of coin did John possess?

    -John possessed a 1922 proof high-relief matte-finish coin.

  • How did John acquire the coin?

    -John won the coin at a poker game.

  • What is significant about the 1922 high-relief coin?

    -The 1922 high-relief coin is considered one of the holy grails of American coins due to its high detail and rarity.

  • What was the issue with the high-relief coins in 1921?

    -The high-relief design was a triumph of art but a failure of technology because they couldn't strike them with enough pressure to produce many, leading to the design's relief being reduced in early 1922.

  • How many of these coins are known to exist in the world?

    -There are only a dozen of these coins known to exist in the world.

  • What was Rick's initial reaction to John's asking price of $20,000?

    -Rick was surprised and indicated that the coin was worth a lot more than $20,000.

  • Who did Rick call to verify the coin's authenticity?

    -Rick called a friend who works at NGC and is one of their best coin graders.

  • What was the expert's (Dave) assessment of the coin's authenticity?

    -Dave confirmed that the coin was genuine, in an intact and genuine NGC holder.

  • What was the recent sale price for a similar coin?

    -A similar coin sold recently for a touch over $100,000.

  • What was the final agreed-upon price for John's coin?

    -The final agreed-upon price for John's coin was $80,000.

  • What was John's reaction to the final sale price?

    -John was very happy with the sale price and mentioned that he would continue playing poker, hopefully to acquire another coin like this in the future.

Outlines
00:00
🎲 Poker Win Leads to Rare Coin Discovery

The first paragraph of the script revolves around a conversation between John and Rick, where John reveals he has acquired a 1922 proof high-relief matte-finish coin, which he surprisingly won in a poker game. Rick, a coin expert, recognizes the coin as an extremely rare and valuable piece, akin to the 'holy grail' of American coins. The coin's history is briefly discussed, mentioning the 1921 silver dollar reintroduction and the subsequent creation of high-relief coins that were later melted down due to production issues. The rarity of the coin is emphasized, as only a dozen such coins are known to exist worldwide. John initially values the coin at $20,000, but Rick assures him it's worth significantly more. To verify the coin's authenticity, Rick calls a friend, Dave, who works at NGC and is a top coin grader. Dave confirms the coin's legitimacy and estimates its value to be between $50,000 and $100,000, having recently seen a similar coin sell for just over $100,000.

05:01
💰 Negotiating the Price of a Priceless Coin

In the second paragraph, John and Rick engage in a negotiation for the 1922 High Relief Peace Dollar. John, now aware of the coin's significant value, is initially content with $20,000, but Rick counters with a higher offer. After a brief back-and-forth, they agree on a price of $80,000. John expresses his excitement about the sale, which netted him a substantial profit, and humorously mentions his intention to continue playing poker in hopes of finding another valuable coin. Rick, on the other hand, reflects on the rarity of the coin and the extraordinary event of such a valuable item being sold in his pawnshop.

Mindmap
Keywords
💡1922 proof high-relief matte-finish coin
This refers to a specific type of U.S. coin minted in 1922 with a high-relief design and matte finish, which means the coin has a non-shiny, textured surface. The coin is considered one of the 'holy grails' of American coin collecting due to its rarity and high detail. In the video, John possesses such a coin, which he won in a poker game, and it becomes the central object of discussion and valuation.
💡poker game
A poker game is a form of gambling where players wager on the best combination of cards in their hands. In the context of the video, it is the setting where John acquired the 1922 high-relief coin, which adds an element of luck and serendipity to the story of the coin's possession.
💡silver dollar
A silver dollar is a one-dollar coin made of silver that has been minted in the United States. It is a popular collectible item among numismatists (coin collectors). In the video, Rick mentions that 'silver dollars is what every coin collector collects,' indicating the coin's significance in the coin collecting community.
💡high relief
High relief refers to a coin's design where the images have a significant depth and stand out prominently from the coin's surface. This term is used to describe the 1922 coin's design, which was intended to have a higher level of detail and artistic expression, but also presented technical challenges during minting.
💡mint
In the context of coins, a mint refers to a government facility where coins are produced. The term is also used to describe the process of making coins. In the video, the mint is mentioned in relation to the production of the 1922 high-relief coins and the initial secrecy surrounding their existence.
💡NGC (Numismatic Guaranty Corporation)
NGC is a leading third-party grading and authentication service for collectible coins, including those made of precious metals. In the video, NGC's role is highlighted when Dave, who works at NGC, is called in to verify the authenticity and condition of the 1922 high-relief coin.
💡coin grading
Coin grading is the process of evaluating a coin's condition and assigning it a numerical grade based on its state of preservation. This is an important aspect of coin collecting as it significantly affects a coin's value. In the video, Dave, as a coin grader, assesses the 1922 high-relief coin's authenticity and provides an estimated value.
💡rarity
Rarity in the context of collectibles, such as coins, refers to the scarcity or uncommonness of an item. A rare coin is highly sought after by collectors due to its limited availability. The 1922 high-relief coin is described as 'beyond rare,' emphasizing its exceptional value and desirability among collectors.
💡authenticity
Authenticity refers to the genuineness or true nature of an item, especially in the context of collectibles. In the video, the authenticity of the 1922 high-relief coin is crucial for determining its value and for the buyer to proceed with the purchase.
💡valuation
Valuation is the process of determining the monetary value of an asset, such as a collectible coin. In the video, the valuation of the 1922 high-relief coin is a central theme, with experts providing estimates based on its rarity, condition, and historical significance.
💡numismatist
A numismatist is a person who collects coins, paper currency, or medals, either as a hobby or for investment purposes. In the video, Rick represents a numismatist, as he is knowledgeable about the value and history of the 1922 high-relief coin and is interested in purchasing it for his collection.
Highlights

John possesses a 1922 proof high-relief matte-finish coin.

The coin was won in a poker game.

Rick refers to the coin as one of the 'holy grails of American coins'.

The 1922 High Relief Peace Dollar is one of the rarest coins in American history.

The coin's high relief means the image has much higher detail and really comes off the coin.

Most people were unaware of the coin's existence for about 15 years after it was minted.

Only a dozen of these coins are known to exist in the world.

John initially asks for $20,000 for the coin.

Rick expresses his desire to verify the coin's authenticity due to its high value and rarity.

Dave, a coin grader from NGC, confirms the coin's legitimacy and its exceptional rarity.

The coin's design was a triumph of art but a failure of technology, as it was difficult to produce in large quantities.

A similar coin recently sold for over $100,000.

Dave estimates the coin's value to be north of $50,000 but less than $100,000.

After negotiation, Rick and John agree on a sale price of $80,000 for the coin.

The coin's sale represents a significant windfall for John, who is excited about the outcome.

Rick regrets not immediately agreeing to John's initial asking price of $20,000.

The discovery of such a rare coin in a pawnshop is described as extraordinary.

Transcripts

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Related Tags
Rare CoinPawnshop DiscoveryValuation DramaNumismatic HistoryPoker WinHigh-Relief DollarCoin GradingCollectible ValueNegotiation