Wednesday, May 23, 2012

Memorable Auctions: The 1 million dollar Penny

An American penny from 1793 was sold last January in an Auction in Orlando for 1 million dollars. The 'lucky' buyer prefer to stay anonymous.

Despite the fact that nowadays there are still a few hundred 1793 coins, the coin auctioned is a special penny. "This coin is known as a 'Chain Cent' because the central design on the back is a chain of 13 linking rings. It represented the solidarity of the 13 original colonies, but some critics claimed the chain was symbolic of slavery, and the design was quickly changed from rings to a wreath," said James Halperin of Texas-based Heritage Auctions to The Associated Press.

The sale was one of the biggest deals at the coin show and annual convention of the Florida United Numismatics. However it is not the most expensive penny ever. A 1943 penny was sold for a bid of 1,7 million dollars in 2010.


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