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ST. LOUIS (AP) - A rare St. Louis coin collection that sold for $23 million at a two-day New York City auction began when the collection's 102-year-old owner received an 1859 one-cent piece nine decades ago from his grandfather.

Retired St. Louis lawyer Eric P. Newman only paid about $7,500 for the 1,800 piece collection sold at auction. Auctioneer Jim Halperin says the items represent just one-third of Newman's total collection.

Proceeds from the sale will go toward supporting the nonprofit Eric P. Newman Numismatic Education Society. The society operates the Newman Money Museum, which is part of the Kemper Art Museum at Washington University in St. Louis. Newman is a 1935 law graduate of the school.

 

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