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HOW ONE FAMILY TURNED 5 CENTS INTO $3.1 MILLION

When it comes to our belongings, it’s often times hard to put a price tag on the things that hold sentimental value to us. Sometimes, when it comes time to sell those possessions, it’s amazing how much someone else will pay for something you may have thought to be worthless.

Such was the case for one family who wanted to see how much one particular family heirloom could fetch them. What started as the simple inheritance of a 1913 nickel that had been in their mother’s possession since 1962, soon turned into $3.1 million, providing the family with more financial security than they could ever imagine.

The heirlooms story began in 1912 when the coin was minted, along with four others, with the year 1913. Shortly after the coins were broken up in 1942, a man purchased one of the coins for a reported $3,750. When the man died in a fatal car accident in 1962, the nickel passed to his sister who was told that it was a fake.

Deciding to keep it as a family heirloom, the coin was placed in a box with other family items and stuck in a closet. Upon her death in 1992, the coin was inherited by her children. Despite being told that it was a fake, the children wanted to know if their family heirloom carried any value to someone else. Surprisingly, it did and the coin sold at auction for $3.1 million. After taxes, the children will split $2.7 million amongst themselves.

Although it was bittersweet to part with the coin, the family now has the means to invest their newfound inheritance for future generations.  Proof that even the smallest of assets in a will can turn into something big in the end.

Source: The Twin Falls times-News, “1913 nickel fetches more than $3.1M at auction,” The Associated Press, April 26, 2013