70 Years After A Boy Found A Rare Penny, The Item Sold For Hundreds Of Thousands Of Dollars

Image: Heritage Auctions via New York Post

It’s 1947, and 16-year-old Don Lutes Jr. has just eaten in his school canteen in Pittsfield, Massachusetts. After leaving the dining hall, he takes a closer look at the change that the cashier has given him and notices something different about a particular penny. And since he’s a coin collector, he puts it aside. More than 70 years will pass, though, before the full story about this one-cent coin emerges.

But before we get back to Lutes, let’s look at a little history. The first one-cent coin in America appeared in 1787. Said to have been designed by Benjamin Franklin, it was known as a “Fugio” cent because that word – the Latin for “I flee” – was inscribed on the coin.

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