LONG BEACH, California (AP) -- A penny saved is not necessarily just a penny earned. One man's collection of rare American cents has turned into a $10.7 million auction windfall.
The collection of 301 cents featured some of the rarest and earliest examples of the American penny.
It included a cent that was minted for two weeks in 1793 but was abandoned because Congress thought Lady Liberty looked frightened.
That coin and a 1794 cent with tiny stars added to prevent counterfeiting each raised $632,500, according to the Dallas-based auction house Heritage Auction Galleries, which held the sale in Long Beach on Friday night.
The coins came from the collection of Burbank resident Walter J. Husak, the owner of an aerospace-part manufacturing company.
A 1794 large cent, about the size of a modern quarter, was sold for $632,500
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Collection of 301 pennies sells for $10.7 million at auction
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