Rare penny fetches $1.3-Million at Florida auction - KPLC 7 News, Lake Charles, Louisiana

Rare penny fetches $1.3-Million at Florida auction

ORLANDO, Fla. (AP) - A one-cent copper coin minted in 1793, the first year that the United States produced its own coins, has fetched $1.38 million 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. Halperin said the auction had $60 million in transactions. The show runs through Sunday.

Copyright 2012 by The Associated Press. All Rights Reserved.

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