Kagin's Buys First American Pattern Coin for $1.175 Million in Heritage Auction. VIDEO: 4:37.

Bob Merrill, Auctioneer, Heritage. David McCarthy & Don Kagin, Purchasers, Kagin's. The only known variety of a 1783 Nova Constellatio silver coin sold for $1.175,000 in the recent Heritage Auctions Platinum Night session at the Central States Numismatic Convention in Schamuburg, Illinois. David McCarthy of Kagin's offered the winning bid that set another price for one of the United States rarest coins. Previous owners of this coin include Crosby-Parmelee-Ellsworth-Garrett, Ford-and most recently Walter Perschke. It is part of the first series of coinage proposed for the United States and considered one of the most historical coins ever created. More news and video about coin and paper money collecting at: http://coinweek.com.