Rare coin found in boy's lunchbox worth $2.4 million

A rare coin found by a teenager in the change from his lunch money could be sold for more than $2 million when it goes to auction.

In 1947, Massachusetts teenager Don Lutes Jr, who was just 16 at the time, was given a rare 1943 Lincoln penny in his change after buying his lunch from the school cafeteria, Fox News reports.

Made of copper, the 1943 Lincoln penny is described as the “most famous” coin made in error.

Only 20 of the coins were ever produced, making them a “holy grail” item for rare coin collectors.

Heritage Auctions, the house responsible for auctioning the rare penny, said on its website that only a “handful of legitimate specimens” have ever been found.

The penny is considered to have been made in error because in the 1940s, copper was meant to be reserved for wartime necessities such as shell casings and telephone wires.

Lincoln pennies produced in 1943 were meant to be made from zinc-coated steel, but a handful of coins put into circulation used copper instead.

The Mint denied issuing any copper coins but speculation grew about the existence of the rare pennies, with car manufacturer Henry Ford stating he would give a new car to anyone who could source one for him.

The teenager held on to the penny, thinking he would sell it one day.

When he inquired with the US Treasury about the coin’s value, he was told that it was “fraudulent” and all pennies issued in 1943 were made from zinc-coated steel.

Mr Lutes died in September, and the coin up for auction until January 10.