Those who thought the American penny had long since lost its value may reconsider: Coin collectors have paid millions of dollars for the last pennies ever to circulate in the United States.
Since the penny ceased production last November, the remaining coins in circulation have been put up for auction, generating significant interest among collectors.
The U.S. Mint sold a set of 232 three-penny coins for a total of $16.76 million at an auction held by Stack's Bowers Galleries last Thursday.
The 232nd and final set, which included the last three pennies ever produced, sold for $800,000. The buyer also acquired the three mints that minted the Lincoln coins.
When introduced in 1793, a penny could buy a cake or a piece of candy. Today, however, pennies are primarily kept in glass jars or in home drawers.
However, for coin collectors, pennies have become valuable historical artifacts.
Each set included 2025 pennies minted at the Philadelphia and Denver mints, along with a 24-karat gold penny to symbolize the end of an era. All coins featured a unique "Omega" symbol.
A total of 232 sets were made, symbolizing the number of years the penny has been present in American culture.
