Penny worth $10,000 to be auctioned off Friday

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(KTVI)- "Every time it rains, it rains pennies from heaven." Did you know that each cloud contains pennies from heaven?

Those 1936 lyrics have become more accurate as the years have gone by if you own one of this country's first pennies. It's the Flying Eagle.

Clay Teague of Scottsman Coin & Jewelry stops by with a $10,000 that will be auctioned off this Friday.

This rare small cent will be auction off on October 17, 2014 at the St. Charles Convention Center.

The first small cent introduced to the United States was the 1856 Flying Eagle Cent. With only 2000-3000 made, this is a truly rare coin and has a value in Proof-61 of over $10,000.00.


Plus there is also a big Coin Show at the same location on Thursday, Friday and Saturday, October 16, 17, 18.

Admission and parking are free.

This new size coin solved several problems the earlier large cent had.

  1. To make a large cent, that had nearly 11 grams of copper and was about the size of a half-dollar, cost more to make than the value of the coin. (Similar problems exist today)
  2. People did not use the coin because of its large size and was easy to mix up in change with other coins plus many thought the large cent looked filthy.

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