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The 1864 reply to a petition by 195 children asking for the freedom of "all the slave children in this country" surpassed the previous record of $3.1m.
It was bought by an American collector bidding by telephone, Sotheby's said.
The letter was the highlight of a sale of some 100 manuscripts written by other American historical figures.
Other highlights included documents written by George Washington, a Lincoln autograph penned on the day of his famous Gettysburg Address, and one from the sixth US president, John Quincy Adams, foretelling the Civil War.
Sotheby's said the record-breaking manuscript was "arguably Lincoln's most personal and powerful statement on God, slavery and emancipation".
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