ORLANDO (CBSMiami/AP) – As Benjamin Franklin once wrote ‘A penny saved is a penny earned’.
In Orlando on Saturday an old penny saved was sold for $1.38 million.
The one-cent copper coin was made at the Mint in Philadelphia in 1793, the first year that the U.S. made its own coins. James Halperin of Texas-based Heritage Auctions said the sale was “the most a United States copper coin has ever sold for at auction.”
Heritage officials said in a news release that the name of the buyer was not revealed but that he was “a major collector.” One of the coin’s earliest owners was a well-known Baltimore banker, Louis E. Eliasberg, Sr.