Pretty penny: Early 1-cent coin sells for more than $1M

AP News
Posted: Mar 27, 2015 1:58 PM

BALTIMORE (AP) — An early trial of America's first 1-cent coin now costs quite a pretty penny — an auction host says one has sold for more than $1 million.

Stack's Bowers Galleries says one of the first 1-cent pieces made in the country went to a rare-coin dealer Thursday night for $1.175 million in Baltimore.

The coin is known as the 1792 Birch cent. It was made as a trial, just months after the 1-cent denomination was first authorized in the young country.

The auction host says the coin that sold is the second-finest of its kind still in existence, and it last sold at auction in 1959.

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Other rare coins also sold at the auction, including an 1861 Confederate half dollar for more than $600,000.