Jersey dealer pays .3 million for rare coin | Economy | NewJerseyNewsroom.com -- Your State. Your News.

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Jersey dealer pays $2.3 million for rare coin

1804coinf050109_optJohn Albanese of Bedminster now owns a dollar that has not suffered from inflation.

He was the winning bidder on an 1804 silver coin, one of only 15 known to exist, at an auction in Cincinnati, paying $2.3 million.

The Adams-Carter silver dollar, named for two previous owners,  was sold by Heritage Auction Galleries of Dallas during the Central States Numismatic Society Convention. It is believed to be the seventh most valuable coin in the world.

Albanese told the Associated Press he doesn’t smoke or drink, but needed a “rare coin fix.”

Despite his craving, he said he had several possible buyers and might sell the dollar.

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