Rare Penny to Sell for More Than $1 Million in Auction

An early American coin dating 1792 will be auctioned Thursday evening

By Katy Wolpoff
|  Wednesday, Apr 18, 2012  |  Updated 10:37 AM CDT
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Rare Penny to Sell for More Than $1 Million

Heritage Auctions

Online bidding exceeded $1 million for this 1792-dated copper cent with a tiny silver plug in its center that will be sold in Schaumburg by Heritage Auctions on Thursday. The experimental penny was one of the first coins ever struck by the United States Mint in Philadelphia.

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What can you get for a penny these days? More than a million bucks, in one case.

A 1792 U.S. experimental penny is expected to sell for more than $1.2 million in a public auction on Thursday in Schaumburg. Online bidding has begun, and the penny has received the highest bid in a $20 million auction of rare coins on the Heritage Auctions website.

The rare copper penny features a small silver plug in the center and a symbolic representation of “Miss Liberty." It's one of the first coins struck at the United States Mint.

"This particular coin was carefully preserved from owner-to-owner over the past 220 years, and remains in mint state condition," Heritage Auctions Executive Vice President Todd Imhof said in a statement. "It's been illustrated in several prominent numismatic reference books."
 
There are only 14 known surviving silver-center pennies, according to Imhof. The consignor chose to remain anonymous.

The auction begins at 7 p.m. Thursday at the Schaumburg Renaissance Convention Center, in the Nirvana Ballroom.
 

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