1943 Steel Penny Coin Value Lookup (2024)

Steel pennies (Steelies) minted in 1944 are among the most expensive American coinage. On the other hand, specimens issued a year earlier are pretty available and affordable, while those made of bronze can reach unbelievably high prices.

Despite their unusual look, you can expect the 1943 steel penny value to be relatively moderate, with a few exceptions. You should particularly pay attention to rare errors because they are highly desirable among collectors. Let's take a look.

(from Coin Value Checker)

History of the 1943 Steel Penny

The 1943 steel pennies appeared because the US decided to help the Allies by using nickel and copper for military purposes that war year. Unfortunately, this metal was not the best option for coinage, resulting in quick design wear and rusting.

Even though they are only a cheap alternative to bronze pennies, these coins are collectible nowadays. Interestingly, you can find counterfeit pieces, so the only way to determine their authenticity is to do a magnet test.

1943 Steel Penny Value Guides

The 1943 steel pennies were issued in three mints during WWII. The US Mint used such an unusual metal for coinage production because of the increased military need for copper. The total number of produced coins was 1,093,838,696, and such a high mintage makes them abundant on today's market.

1943 No Mint mark steel penny value

Except for twenty bronze cents minted in 1943 by mistake, the Philadelphia mint issued 684,628,670 steel pennies this war year. Since they are still pretty common on the market, you can buy one in circulated condition for $0.13 to $0.30.

Coins graded MS 60 to MS 65 are worth less than ten dollars, while those rated MS 66 and MS 67 typically cost $60 to $240. As expected, the best-quality pieces in the set are the most expensive. So, you can find MS 68-graded steel pennies for $3,000 to $3,600.

1943 D steel penny value

Interestingly, the Denver mint issued one 1943 D bronze penny, making it unique. Their regular mintage included 217,660,000 steel pennies that year. Most circulated pieces are affordable, with an average price of $0.13 to $0.60.

While you can find lower-graded uncirculated coins from this set for under $3.50, those graded MS 65 and MS 67 cost $10 to $230. The priciest cents are MS 68-rating ones, with an average price range from $1,800 to $2,500.

1943 S steel penny value

The primary cents produced in San Francisco in 1943 were steel pennies. This mint released 191,550,000 of these coins, besides five bronze pieces minted by mistake.

The circulated 1943 steel-zinc Lincoln cents that spent months or years in circulation cost less than a dollar, while you should set aside at least $1.50 for one in the mint state. Depending on each piece's quality, it is necessary to count on $1.50 to $85 per one.

On the other hand, steel pennies in MS 67 grade often reach $180 to $275 on the market. Rare MS-rating specimens are the best estimated, with a fantastic price range from $3,000 to $3,400.

There are many factors that go into determining a coin's value. If you're not yet sure what your 1943 steel penny coins are worth, the Coin Value Lookup website is a great free resource for you to check and check.

Features of the 1943 Steel Penny

Victor Brenner designed both penny sides in 1909. Since that didn't change during the first fifty years, you can expect the 1943 steel pennies' appearance to remain the same.

Obverse

Like all other pennies minted from 1909 to 1959, those made of steel depict Lincoln's profile on the obverse. The only difference is in color since these pieces are silverish, without the recognizable copper toning.

The letterings were unchanged, and you can read -IN GOD WE TRUST- above the central figure's image. The minting year and the mint mark, when it is present, are on the right coin side. The designer placed LIBERTY behind the President's back.

Reverse

The reverse of early pennies, including those made of steel, have recognizable two wheat stalks along the right and left edges. They surround two inscriptions in the center, including the denomination of ONE CENT and the full State name. The final touch is the motto (E·PLURIBUS·UNUM) struck along the upper edge.

Other features

The US Mint issued steel pennies for only two years. These one-cent coins with a plain edge contained 99% of this metal with a small addition of zinc. Each piece weighed 0.09531 ounces, which equaled 2.702 grams.

The expected diameter was 1.75 inches or 19.05 millimeters based on the metric scale, while their thickness was 0.06102 inches. If you calculated in millimeters, it was 1.55 mm.

1943 Steel Penny Errors and Varieties

Even though the 1943 steel pennies are highly collectible, errors are even more desirable for collectors. The most famous pieces come from the Denver mint, but others are also attractive. Let's see.

D over D

No one can be sure how many 1943 D/D steel pennies still exist, but these error coins are typically pricey. Their value depends on the grade, so you should pay approximately:

· $260 to $312 for those in MS 60 grade

· $285 to $342 for those in MS 61 grade

· $295 to $354 for those in MS 62 grade

· $310 to $372 for those in MS 63 grade

· $385 to $462 for those in MS 64 grade

· $690 to $828 for those in MS 65 grade

· $2,000 to $2,400 for those in MS 66 grade

Expectedly, piecesrated MS 67 are rare and the costliest. If you find one such imperfect coin, you can sell it for about $8,000 to $12,000.

1943 Bronze penny variation

Since the US Mint issued only steel pennies in 1943, those made of copper were rare. Their number was limited, and numismatists consider them a valuable variety.

· The Philadelphia mint produced twenty bronze pennies in 1943

· The Denver mint produced one bronze penny in 1943

· The San Francisco mint produced five bronze pennies in 1943

Other errors

Wrong coating - Some steel pennies minted in 1943 were coated in bronze instead of zinc. One of these error coins is the most expensive in the series.

Re-punched mark - Pennies from San Francisco sometimes have the re-punched mint mark, increasing their price to a few hundred dollars.

Double die (DDR and DDO) - Steel pennies with this error are typically worth hundreds of dollars, but a few unique pieces were sold for even more.

1943/2S DDO - The overdate (1943 over 1942) pennies minted in San Francisco are highly collectible. The costliest piece reached $10,000 at an auction in 2022.

1943 Steel Penny Grading

The 1943 steel penny grading is based on the 70-pointed Sheldon scale, like other American coinage. Most dedicated collectors know how to rank the coins they find or buy.

However, most rely on expert opinion regarding scarce and valuable specimens. In this case, the crucial thing is to find a reputable grading company, such as PCGS, ANACS, or NGC, and get your coin professionally evaluated.

What makes a 1943 steel penny rare?

Unlike rare steel pennies minted in 1944, those issued in 1943 are pretty common, thanks to the high mintage in all three mints. Only several coins in the highest grade and those with collectible D/D error can be considered scarce and valuable.

Which 1943 steel penny are worth a lot of money?

Unlike bronze-coated pennies minted this year with prices up to $840,000, those made of steel are of more moderate value. A list of these coin's record prices includes:

· 1943 AU58 steel penny sold at $218,500 (2010)

· 1943 S AU58 steel penny sold at $138,000 (2004)

· 1943 D/D MS67 steel penny sold at $21,275 (2011)

· 1943 D MS68+ steel penny sold at $14,250 (2022)

· 1943/2 S MS67 steel penny (Doubled Die Obverse) sold at $10,000 (2022)

· 1943 AU Details steel penny (Doubled Die Obverse) sold at $5,999 (2019)

· 1943 XF Details red-brown steel penny (Experimental Shell Case) sold at $3,840 (2023)

· 1943 MS67 steel penny (Doubled Die Obverse) sold at $2,150 (2020)

· 1943 MS66 steel penny (Doubled Die Reverse) sold at $1,293 (2020)

· 1943 S MS65 steel penny (Doubled Die Obverse) sold at $716 (2013)

· 1943 S MS63 steel penny (PL) sold at $204 (2022)

How much are the 1943 No Mint mark steel penny worth?

Steel pennies minted in Philadelphia in 1943 are common nowadays, meaning you can get one used piece for $0.13 to $0.30. Those in the mint state come in a wide price range from several cents for those in MS 60 rank to $3,600 for MS 68-graded ones.

What is the priciest steel penny?

The costliest steel Wheat penny was produced in 1944 in the San Francisco mint. This piece in MS 66 grade reached an astonishing price of $408,000 at Heritage Auctions, organized in August 2021.

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