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Lexington coin dealer throws serious bills toward rare nickel

SCHAUMBURG, Ill. (AP) - A rare century-old U.S. nickel that was once mistakenly declared a fake has sold at auction for more than $3.1 million by a Lexington coin dealer.

The 1913 Liberty Head nickel is one of only five known to exist. But it's the coin's back story that adds to its cachet: It was surreptitiously and illegally cast, discovered in a car wreck that killed its owner, declared a fake, forgotten in a closet for decades then declared the real deal.

It was offered for sale by four Virginia siblings at a rare coin and currency auction in the Chicago suburb of Schaumburg on Thursday, and sold for well over the expected $2.5 million.

The winning bidders were Jeff Garrett, owner of Mid-American Rare Coin Galleries in Lexington, and a man from Panama City, Fla..

They bought the coin in partnership.

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