News24

In for a (1793) penny...

2012-01-08 22:39

Orlando - A one-cent copper coin minted in 1793, the first year that the US produced its own coins, has fetched $1.38m at a Florida auction.

James Halperin of Texas-based Heritage Auctions told The Associated Press on Saturday that the sale was "the most a United States copper coin has ever sold for at auction".

The Orlando Sentinel reports that the final bid by an unknown buyer for the coin was one of the largest sales at the Florida United Numismatists coin show and annual convention.

The newspaper reports that the 1793 penny is rare and in excellent shape, showing no wear on its lettering, its Lady Liberty face or the wreath on its back. It came from the Mint in Philadelphia.


Comments
  • Squeegee - 2012-01-09 06:39

    Super inflation! Wish I had a few of those lying around.

  • Owen - 2012-01-09 07:13

    I wonder what a 1% annual inflation rate over 217 years is? Maybe this was a bargain. In SA we have had prices go up 1000 times in 35 years to where our smallest coin is a 10 cent piece.

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