The finding was recently detailed by Central Michigan University, where geology faculty member Mona Sirbescu was asked to take a look at the unusual 22lbs rock.
"For 18 years, the answer has been categorically "no" - meteor wrongs, not meteorites", she said.
"I could tell right away that this was something special", said Sibescu, who determined the meteorite is made of 88.5 percent iron and 11.5 percent nickel.
The Smithsonian Institution in Washington, D.C., corroborated Sirbescu's analysis that the 22-pound "rock" is, indeed, a meteorite, and is apparently the sixth-largest of its type to be discovered in MI.
"It's the most valuable specimen I have ever held in my life, monetarily and scientifically", she added.
A rock (pictured) that was used as a door stop for three decades has turned out to be a meteorite worth $100,000 (£76,000). The farmer claimed the rock had fallen in the 1930s and that the new owner could have it since it was "part of the property".
The unidentified man told the professor the meteorite was passed on to him in 1988, when he bought a farm in Edmore, Michigan.
Now, the Smithsonian Institution is considering making an offer on the space rock.
A man has discovered a rock he's been using as a doorstop for 30 years is actually worth more than A$140,000.
"A piece of the early solar system literally fell into our hands", Dr Sirbescu said in a video made by the university to promote its discovery.
So they dug up the meteorite. "I wonder how much mine is worth, '" Mazurek said.
The Smithsonian museum has valued the meteorite, which they named the Edford, at $100,000. She said it will likely be called the "Edmore meteorite".
The meteorite's owner said he will donate 10 per cent of the sale amount to the university. "It was brought by this gentleman and within minutes, within seconds i knew it was a real one", says Dr. Monaliza Sirbescu, CMU Department of Earth & Atmospheric Sciences.