1793 Penny: Rare 1793 One-Cent Coin Fetches Over $1M at Florida Auction (Photo)

By on Jan 8, 2012 in Amazing, United States, World Comments
1793 Penny

1793 Penny
Image Credit: Coin Facts

A rare 1793 penny reportedly fetched $1.38 million in an auction during the coin show and annual convention of the Florida United Numismatists at the Orange County Convention Center in Orlando, Florida. The sale of the 1793 penny is considered as one of the biggest deals at the coin show, according to reports by several international news sites on Sunday, January 8, 2012.

The 1793 penny, a copper minted coin, was produced during the first year of coin production in the United States. The penny was able to get a good price because it is rare, its lettering and Lady Liberty face and the chain of 13 linking rings on its back were still in good shape.

In a press release, James Halperin, of Texas-based Heritage Auctions, said that the “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.”

Reports say that almost 600 dealers of coins and currency joined the Orlando, Florida coin show. Over 100,000 attendees are expected at the show which ends on Sunday, January 8. The coin show is open from 10 a.m. until 3 p.m..

The Florida coin show features Buffalo nickels, silver one-ounce pieces and coins from antiquity, misprinted cash, Confederate notes and several foreign currency.

Dealers are selling, appraising and buying coins from visitors during the coin show.

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