If it does it once it's an anomality if it does it again next week there might be an issue. I don't think you flooded the motor unless there is an issue with the float, needle or seat.
That was disappointing, someone had cleaned the penny diminishing its value. If it hadn't been cleaned it was $2.50 in its present condition .25 cents.
Your either going to have break the bolt or take a wood chisel or osculating tool to split the wood block allowing the bow eye to move forward and cut through the bolt. Then you can see what the next step will be.