Rare 1792 penny sells for $1.15M

Associated Press
In this Thursday, April 19, 2012, photo, Todd Imhof, executive vice-president of Heritage Auction Galleries in Dallas poses for a photo with a copper and silver 1792 experimental penny that was put up for auction in Schaumburg, Ill. Officials with Heritage Auctions say Kevin Lipton of Beverly Hills, Calif., bought the penny on behalf of a group of unnamed investors for $1 million and must also pay the auction house's 15 percent commission. It was never actually put into circulation and only 14 examples of the coin are known to exist. (AP Photo/Daily Herald, George LeClaire)  MANDATORY CREDIT; MAGS OUT; TV OUT

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The unusual coin was auctioned off Apr. 19 at the Renaissance Schaumburg Convention Center in suburban Chicago.

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