As well as dollar cents, which can be worth up to 800 million pesos | Finance | Economie

A man known as Lotus went down in history for owning a penny for many years that was sold for it $204,000 (about 867 million pesos), According to Heritage Auctions, the auction house that conducted the sale.

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One penny is supposed to equal this: one penny. however, When these coins are saved Over the years by collectors, Its value increases exponentially.

Lotus owned a 1943 Lincoln Bronze Penny and kept it until 2018, when he passed away. Before his death, he delivered the coin to Heritage Auctions.

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Lotus, then 16, received the copper coin in return at his school canteen in 1947.Tell David Stone, Heritage Coin cataloger CNBC Make It.

The auction house received nearly 30 bids when the coin went up for sale. The proceeds went to the Berkshire Athenaeum Public Library, It is located in Pittsfield, Massachusetts (USA), the birthplace of Lotus.

As Stone explained to the American media, the value of a penny depends on its quality and rarity. As for the 1943 Lincoln Bronze Penny, He indicated that Only a few of these have been discovered, Including those found by Lotus.

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The United States stopped using bronze to preserve materials used in the armed struggle, so cents began to be manufactured from zinc-coated steel plates, according to the Coin Index.

But he added that “Some of the old bronze slabs got stuck in the large containers the mint used to fuel the coin presses in late 1942. The few bronze coins that were minted went unnoticed and were put into circulation“.

Thus the bronze Lincoln penny became, in the words of Stone, “The most famous error coin in American numismatics“.

The expert also emphasized that Chances of finding one of these are almost impossible.

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The most valuable Lincoln Cent was sold privately in 2010 for $1.7 millionStone said.

So far, only collectors know Lincoln Bronze 15 to 20 cents. But due to its value, many fakes made of fake steel circulated, so experts advise anyone who finds one to check it with a magnet, because if it sticks, it is not bronze.

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