Small coins, big money

US investors are paying record-breaking prices for old rare coins. But it’s a different story in Australia.

Collecting old coins isn’t what it used to be. Just ask Jeff Garrett, a collector and dealer based in Lexington, Kentucky. He recently bought a minority stake in a 1913 Liberty Head nickel worth nearly $3.2 million. Up to that point, Garrett had thought nothing of purchasing coins of around $100,000 in value, but this, he says, took his collecting “to a new level.” It was both thrilling and a little frightening, he says—“I lost a considerable amount of sleep.”



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