Bidding on a1792 half dime - one of the very first coins struck by the United States - started at $750,000, before ending with an Internet bidder who advanced $1.15 million for the coin.

With a 15 percent buyer’s premium added on, the coin sold for $1,322,500, said James L. Halperin, co-chairman of Heritage Auction Galleries of Dallas. Heritage conducted the sale as part of the Central States Numismatic Society convention at the Greater Columbus Convention Center.

Halperin said the coin’s new owner prefers to remain anonymous, but he did say the owner is a private collector who bought the coin for his own collection and is not a coin dealer.

The coin, one of 1,500 to 2,000 silver five-cent pieces struck during the summer of 1792, has a representation of Libery on the front and an eagle on the back. George Washington is widely thought to have provided the silver for the first coinage. Jefferson, as Washington’s Secretary of State, recorded delivery of the coins in his account book.

Two worn 1792 half dimes sold just before the uncirculated piece. One sold for $69,000 and the other, which had a hole in it, fetched $14,950.

Altogether, Halperin said he expects about $20 million worth of coins to be sold at the coin show’s auction, which ends Saturday.

Posted: 04|28|06 at 11:26 am. Filed under: US News.