Round red glowing object in the night sky...changed colors......and did not seem to be very high......

We were coming home from drive in movie and were in the country....when we saw round , red glowing object..we stopped the car and watched it for approximatly 10 minutes...it changed from red   to orange tp white to OUT.....It seemed to be metal in appearance.and if you held up a dime and closed  one eye at arms length..it seemed to be  about that size......we then drove down the driveway  to tell my folks about it..and we all came out side...and through the branches of trees we saw an orange flash  Movement from left to right..and did not see it anymore......we called the police department the next morning and asked if anyone else had seen anything,,and he said say they had had a few reports......but it was back in the day when you felt they were thinkin .."yeah sure!"....but I have never forgotten it. I do not know what I saw....but would love to hear a reasonable explanation.....and I do sincerely think I have seen  a true UFO...it made a believer out of me......…
Date is approximate.  PD