A ONE-CENT copper coin minted in 1793, the first year that the United States produced its own coins, has fetched US$1.38 million at a Florida auction.

James Halperin of Texas-based Heritage Auctions said Saturday that the sale was “the most a United States copper coin has ever sold for at auction.”

Orlando Sentinel reports that the final bid by an unknown buyer for the coin was one of the largest sales at the Florida United Numismatists coin show and annual convention.

The 1793 penny is rare and in excellent shape, showing no wear on its lettering, its Lady Liberty face or the chain of 13 linking rings on its back. It originated at the Mint in Philadelphia.

Halperin said the auction had US$60 million in transactions. (SD-Agencies)