NYC Collector Dies Before Rare Pennies Sell for $100,000+ Each

NEW YORK , Jan. 12, 2023 /PRNewswire/ -- A prominent New York City coin collector died before some of his rare pennies will sell at auction for $100,000 or more each later this month. Numismatist and sculptor Stewart Blay was 71. His collection of 162 superb quality Lincoln cents dating back to 1909 has a combined face value of only $1.62 but is expected to sell for over $3 million.

"My brother began collecting coins when he was eight years old and started assembling the finest known collection of early Lincoln cents about 50 years ago," explained Blay's sister, Mariette Blay of Oregon. "He was extremely proud of his collection and many of the pennies were exhibited at coin shows."

"For the last 20 years, Stewart Blay's 'Red Copper' Lincoln Cent collection was recognized as the top set of its kind. Many of the 162 pennies in the set are more than 100 years old but still in superb, brilliant mint condition. Five of them already have bids between $112,500 and $323,000 each," said Ian Russell, president of GreatCollections in Irvine, California (www.GreatCollections.com).

"Stewart painstakingly purchased each coin one at a time by attending coin shows around the country and hunting down the best of the best," explained Russell.

Blay consigned his coins to GreatCollections just a few weeks before he unexpectedly passed away on November 25, 2022. The auction of his collection is divided into three parts with each ending on Sundays: January 15, 22, and 29.

"The familiar penny design depicting President Abraham Lincoln was introduced into circulation in 1909 to commemorate the 100th anniversary of Lincoln's birth. Bidding already is at $255,000 for the finest known example of a 1909-dated Lincoln cent struck at the San Francisco Mint with designer Victor D. Brenner's initials, V.D.B., as part of the design on the tail's side," explained Russell.

The coin with the highest current bid of $323,000 is a 1958 Lincoln cent described as "The King of Doubled Dies."

"It is the finest of only three known 1958 U.S. cents that have severe doubling of letters in the motto IN GOD WE TRUST and the word LIBERTY on the front of the coin," explained Russell.

GreatCollections, the official auction house of the American Numismatic Association, specializes in auctioning certified coins and banknotes, handling transactions from start to finish. Since its founding in 2010, GreatCollections has successfully auctioned over 1 million certified coins, making it one of the leading certified coin companies in the United States with annual sales in 2022 exceeding $270 million. Ian Russell, owner/president of GreatCollections, is a member of the prestigious Professional Numismatists Guild and a member of the National Auctioneers Association. For more information about

GreatCollections, visit www.greatcollections.com or call 800-442-6467.

SOURCE GreatCollections