Rare 1913 nickel fetches more than $3.1M at auction - FOX 8 WVUE New Orleans News, Weather, Sports

Rare 1913 nickel fetches more than $3.1M at auction

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This Jan. 2, 2013 image provided by Heritage Auctions shows an authentic 1913 Liberty Head nickel that was hidden in a Virginia closet for 41 years after its owners were mistakenly told it was a fake. (AP) This Jan. 2, 2013 image provided by Heritage Auctions shows an authentic 1913 Liberty Head nickel that was hidden in a Virginia closet for 41 years after its owners were mistakenly told it was a fake. (AP)

SCHAUMBERG, Ill. (AP) – A rare century-old U.S. nickel that was once mistakenly declared a fake has sold at auction for more than $3.1 million.

The 1913 Liberty Head nickel is one of only five known to exist. But it's the coin's back story that adds to its cachet: It was surreptitiously and illegally cast, discovered in a car wreck that killed its owner, declared a fake, forgotten in a closet for decades then declared the real deal.

It was offered for sale by four Virginia siblings at a rare coin and currency auction in the Chicago suburb of Schaumburg on Thursday, and sold for well over the expected $2.5 million.

The winning bidders were two men from Lexington, Ky., and Panama City, Fla., who bought the coin in partnership.

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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