What are the rarest US pennies

Rare US cent auctioned for a million dollars

In the United States, a rare penny coin from 1792 was auctioned for just under $ 1.2 million (870,000 euros). Allegedly only 14 of the coin from the early days of the USA have survived. The coin was auctioned in Schaumburg near Chicago in the US state of Illinois.

The penny coins were minted in large series from 1793 onwards. They were slightly larger than today's 25-cent pieces. The motto "Liberty Parent of Society and Industry" is embossed on the coin from 1792. The coin that has now been auctioned has seen an enormous increase in value: it had already changed hands in 1974 for $ 105,000.

Large coin made of copper and silver

The penny coin from 1792 has a copper and a silver component, which is due to a curiosity in the legislation. The law governing the establishment of the United States' own minting of coins stipulated that the coins were too large and heavy for everyday use. Therefore, the mint decided on the silver component in order to guarantee the same value with a lower weight, as Todd Imhof from Heritage Auctions explained.

A bidder from California who took part in the auction on behalf of an unknown investor group won the bid for one million dollars. Because of the 15 percent commission for the auction house, the total amount to be paid is $ 1.15 million.