Rare penny up for auction could be worth more than $1 million

Posted at 9:00 AM, Jan 10, 2019
and last updated 2019-01-10 11:05:42-05

(WXYZ) — A rare penny found back in 1947 is proving to be much more than one cent.

The coin is one of 20 1943 Lincoln pennies mistakenly pressed with copper. During World War II, pennies were supposed to be made with steel because copper was needed for other uses.

In 1947, a man from Massachusetts found the penny in his high school cafeteria. He kept it in his collection for decades, but sold it before passing away in September.

The penny is now up for auction and the current bid is at $130,000. The sale ends at 6 p.m. Thursday.

A similar penny sold for $1.7 million in 2010.