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The one cent coin that’s worth a mint: Rare bronze penny from 1793 fetches $140,000 at auction

July 19, 2013 in Antique Coins, Auctions, Bronze, Bronze Coins, Cents, Coins, Collecting, History, News, Numismatica, Numismatics, Rare Coins, USA Coins

  • Rare bronze coin dates from 1793 when the United States Mint opened
  • It created a frenzy at auction, reaching $140,000 from an anonymous bidder

By OLIVIA WILLIAMS (http://www.dailymail.co.uk)

A one-cent coin has sold at auction for $140,000 – 14 million times its original price.An international bidding war erupted for the rare bronze coin dating from 1793, the year the United States Mint first opened.The coin had been tipped to sell for around $4,560, but 10 keen bidders sent the price soaring at the Bonhams auction in London yesterday.

Eventually an anonymous coin collector placed the winning bid – at more than 30 times the estimate.

John Millenstead, head of coins and medals at Bonhams, said: ‘Although the coin is quite rare and in good condition, we are slightly bewildered that it went for quite so much.

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