The man then made a decision to take his rock to Mona Sirbescu, a geology faculty member in earth and atmospheric sciences at Central Michigan University.
"It's the most valuable specimen I have ever held in my life, monetarily and scientifically", she said.
The charred hunk of space debris is the sixth largest meteorite ever found in the state, and it's estimated worth tops $100,000.
A man from Grand Rapids, Michigan, who told the university he wanted to remain anonymous, brought the rock to Sirbescu for examination earlier this year. "I wonder what mine is worth", Mazurek said in the release.
The farmer said it was a meteorite that "made a heck of a noise when it hit" Earth back in the 1930s.
A rock that was used as a doorstop on a MI farm for decades has been identified as a meteorite worth $100,000.
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Upon receiving the meteorite, Sirbescu evaluated it and discovered it was an iron-nickel meteorite, composed of 8 to 8.5 percent iron and 11.5 percent nickel.
The man told Sirbescu that he kept the rock for the next 30 years, even after moving away from the farm. He says the farmer who sold him the property told a tale about his father seeing it fall from the sky and then digging it out of a hole in the 1930s.
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).
She said she felt excited to play a role in identifying the meteorite. It will be used as funding for students of earth and atmospheric sciences.
He is doing a neutron activation analysis to determine its chemical composition.
Now the Smithsonian museum is considering buying the space rock, and it could fetch as much as $100,000, the release says.
"Just think, what I was holding is a piece of the early solar system that literally fell into our hands".
The meteorite's owner said he will donate 10 per cent of the sale amount to the university.