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Beverly Hills Man Who Spent Nearly $5M On Rare Coins Says He Got A Bargain

BEVERLY HILLS ( — A prominent Beverly Hills businessman just made the biggest purchase ever made for a penny after spending more than $2.5 million.

Kevin Lipton bought the exceptionally rare 1792 penny, which depicts Miss Liberty, at an auction.

"These are incredibly historically important things as well as beautifully artistically things," Lipton told KCAL9's Brittney Hopper.

Lipton, a coin collector, has also previously spent $2.4 million on a rare quarter.

He says he feels he got both coins at a bargain.

"Whenever you come across the greatest or the best of anything, they command these huge trophy prices," he said.

Lipton should receive the penny and quarter early next week.

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