Penny sells for $200,000 at auction

Heritage Auctions
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(KKTV) - UPDATE 1/11/19:
A rare 1943 bronze Lincoln penny has sold for more than $200,000 at a Florida auction.

Heritage Auctions says more than 30 people bid on the rare coin Thursday night. Only 10 to 15 of these pennies, mistakenly minted in bronze instead of steel, are believed to exist. They were made at a time when bronze and copper were being saved to fill metal shortages during World War II.

The auction house says Don Lutes, of Pittsfield, Massachusetts, found the penny in his pocket as a teenager in 1947 after getting some change at his high school cafeteria, and held onto it ever since.

Lutes died in September. He directed all proceeds from the sale to be donated to the Berkshire Athenaeum at the public library in Pittsfield.

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PREVIOUS STORY 1/8/19:
Are you so rich you're willing to spend more than $1 million on a penny?

Well then, we have an auction for you! When copper was needed for bullets and wire to win World War II, a 1943 accident at the U.S. Mint created one of the most valuable coins in American history. That's the year all U.S. cents were supposed to be made of zinc-coated steel to keep the war machine moving.

Before the switch to steel just a few pennies were mistakenly minted in copper. Making a 1943 Bronze Lincoln cent coin one of the most famous in U.S. history. People are now bidding on one of those pennies through Heritage Auctions.

A similar penny sold for about $1 million in the past.

As of 4:50 p.m. on Thursday the penny's current bid was $130,000.

Click here to learn more about the coin up for auction.

Click here if you have a ridiculous amount of money and you want to bid on it. The auction for the coin is open through Jan. 10.