Heritage Auctions, Associated Press
This undated photo provided by Heritage Auctions shows the front and back of one of the first pennies struck at the United States Mint in Philadelphia. This 1793 “Chain Cent” sold for a record $1,380,000 in a public auction conducted by Heritage Auctions at a coin collector’s convention in Orlando, Fla. on Wednesday evening, Jan. 4, 2012. The linking rings on the back of the coin were intended to represent the original 13 colonies, but critics claimed the chain was symbolic of slavery and the design was quickly changed with a wreath replacing the chain.

ORLANDO, Fla. — A one-cent copper coin minted in 1793, the first year that the United States produced its own coins, has fetched $1.38 million at a Florida auction.

James Halperin of Texas-based Heritage Auctions told The Associated Press on Saturday that the sale was "the most a United States copper coin has ever sold for at auction."

The Orlando Sentinel reports (http://thesent.nl/xZBfyw ) that the final bid by an unknown buyer for the coin was one of the largest sales at the Florida United Numismatists coin show and annual convention.

The newspaper reports that the 1793 penny is rare and in excellent shape, showing no wear on its lettering, its Lady Liberty face or the wreath on its back. It came from the Mint in Philadelphia.

Halperin said the auction had $60 million in transactions. The show runs through Sunday.