Rare coin saves house from foreclosure By Numismatic News
September 05, 2008
PARMA -- A Parma couple on the verge of losing
their home to foreclosure made a rare discovery that saved
The couple, who did not want to be identified, brought an
old silver dollar to the Cash-4-Gold store on the corner of
Ridge and Pearl in Parma.
Jim Matiach, owner of the business and president of Coin
and Jewelry Buyers of America, examined the 1873-CC silver
dollar and gave the homeowner the good news.
"We sat down and we were able to negotiate a price and
he walked away with enough money to pay off some of his bills
and hopefully be able to keep his house," says Matiach.
Depending on its precise condition, the 1873-CC Seated Liberty
dollar can be worth tens of thousands of dollars. Only 2,300
were minted but only 40 to 60 are believed to still exist,
with the others having been melted down.
Matiach says it is not unusual to find people searching their
homes for old coins, especially today. The pile of coins on
his counter, recently sold for cash, confirms his observation.
"I deal with this on a daily basis at this point. The
economy is very slow right now. Metal is very high,"
Matiach tells Channel 3 News.
He says people are scouring their houses for silver, gold,
old jewelry, silverware, and even old tea sets, a fine example
of which was just sold by an older couple.
"People are losing their jobs," explains Matiach,
"and the easiest way to get by and pay your bills right
now is to go clean out your drawers. I mean we buy everything."
"We have old silverware stored in five gallon buckets,"
he says. Almost everything except the coins is destined for
metal dealers who melt it down.
"I guess you could say I'm in the recycling business,"