The meteorite weighs over 22 pounds (10 kilograms), which makes it the sixth largest found in MI.
University Geology Professor Mona Sirbescu first identified the piece as more than just a rock.
For double verification, a slice of it was sent to the Smithsonian Institution in Washington, DC, which validated it was in fact a meteorite, according to the press release. "I could tell right away that this was something special", Sirbescu explained in a statement published by the university.
"It's the most valuable specimen I have ever held in my life, monetarily and scientifically", she said.
The man said that he was able to discover the meteorite's origins, noting that he'd spoken with the farmer who'd originally discovered the space rock in the 1930s.
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The new owner came into possession of the meteorite after the farm was sold in 1988.
The farmer told him it was a meteorite, that it was part of the property and he could have it.
"The story goes that it was collected immediately after they witnessed the big boom and the actual meteorite was dug out from a crater", Sirbescu said, but added that the tale has been passed down without eyewitness confirmations.
More tests are being conducted to see if the meteorite contains rare elements.
The Smithsonian Institution and a museum in ME are interested in purchasing the meteorite to put on display.
He also told the station that he plans to donate 10 percent of the sale price to Central Michigan University.
You probably don't have many incredibly valuable artifacts laying around your house, but if you did you nearly certainly wouldn't be using them as doorstops, right? "Let's get a buyer!"