A rare Lincoln cent has sold for a whopping $60,000, as reported Heritage Auctions.
A total of 37 bidders battled to win the auction, which took place in January.
Originating from the year 1909 – the first year of the Lincoln penny – the coin is especially valuable due to its red color.
It was designed by Victor David Brenner, and boasts the initials VDB on the coin.
These initials are often the hallmark of a valuable coin.
But whereas typical Lincoln pennies of this era are red and brown, or sometimes full brown, this one is a full red.
Red coins are the most difficult for proof Lincoln cent collectors to find.
The penny was authenticated by the third-party coin certification company Certified Acceptance Corporation (CAC), with Heritage Auctions calling it the “finest CAC example we have seen.”
PRESIDENTIAL PENNIES
Lincoln pennies are popular among coin collectors.
The coin was originally issued in 1909 to celebrate what would have been the 16th president’s 100th birthday.
The most valuable coins are usually those with a low mintage or an unusual error.
But Lincoln pennies are not the only type of valuable coin in the US.
Old Washington quarters can also fetch a pretty penny.
First introduced in 1932, many valuable examples are from more recent decades.
In particular, quarters that are oddly shaped or have other defects can fetch up to $599.
