1793 penny sells for $2.35 million at Florida auction

[yuiyoshida]

In this undated photo provided by Heritage Auctions, the back of a 1793-dated penny is shown. Dallas-based Heritage Auctions said the penny, known as a "chain cent," sold for a world's record $2,350,000 in an auction conducted in Orlando, Florida, on Wednesday, Jan. 7, 2015. (AP Photo/Heritage Auctions)

DALLAS (AP) -- A U.S. one-cent piece dating to 1793 has sold at auction for $2.35 million.

Dallas-based Heritage Auctions said the penny sold at auction Wednesday in Orlando, Florida.

The penny is known as a "chain cent" because the design on the back is a chain with 13 linking rings symbolizing the unity of the original 13 colonies.

Heritage President Greg Rohan says the copper cent is rare because the design was changed soon after production started in March 1793. He says critics at the time thought the chain evoked an image of slavery. A wreath replaced the chain in later pennies.

Rohan says the buyer is a coin collector who wishes to remain anonymous.

http://mainichi.jp/english/english/newsselect/news/20150110p2g00m0in077000c.html

[uppityperson]

1. I learn things on du all the time, had no clue there was a chain penny and agree

with changing to get rid of the chain.

[Fearless]

4. Typical though, change the penny, don't get rid of slavery for another 70 years.

[lpbk2713]

2. Damn. I spent that penny at Publix just the other day.

:snap:




Nah.

[TerrapinFlyer]

3. As an avid coin collector, this is an important coin

Not many of these coins minted exist, and since it was made of copper -- and not silver — the quality of the ones that do exist are often in very worn condition. Copper does not age as well as silver or gold. These were the coins that went through the hands of our Founding Fathers.

It's the first "penny".. and U.S. coins are among the most collected coins... so it doesn't surprise me that this is now one of the "rarest" coins... surpassing those of silver dollars and other rare gold coins.