The "Pennies" Sale of Alaska: Russia’s Biggest Regret?

The "Pennies" Sale of Alaska: Russia’s Biggest Regret?

In 1867, Russia sold Alaska to the U.S. for just $7.2 million—roughly 2 cents per acre! Mocked as “Seward’s Folly” at the time, the deal turned out to be one of America’s best, as Alaska became a treasure trove of gold, oil, and natural resources. What seemed like a desperate sale by Russia transformed into one of the U.S.’s most valuable acquisitions.