One of the most unusual pennies produced by the United States Mint was the "1943 Silver Pennies." Most people believe that all pennies produced by the United States Mint are made of copper. Therefore, when someone finds one of these silver pennies in their pocket change, they believe they have come across a great rarity. But, although they are uncommon, they are hardly rare.
The War Effort and Metals
The 1943 silver-colored penny is a wartime coin issue made of steel and coated with zinc. During World War II, the war effort required a lot of copper to make shell casings and munitions. In 1943 U.S. Mint produced the penny out of zinc plated steel to save copper for the war effort, so most 1943 pennies are silver colored.
Metal was not the only commodity that was critical to the war effort. American citizens were asked to conserve food such as sugar, meat, cooking oil, and canned goods. Essential goods were rationed to American citizens using coupon books issued by the government. Most critical of all was gasoline.
Watch Now: The Most Valuable Lincoln Wheat Pennies
Value of a 1943 Steel Penny
They are worth about 10 to 13 cents each incirculatedcondition and as much as 50 cents or more ifuncirculated.The following table lists thebuy price(what you can expect to pay to a dealer to purchase the coin) andsell value(what you can expect a dealer to pay you if you sell the coin).The first column lists the date andmint markfollowed by the buy price and the sell value for an averagecirculatedLincoln Wheat penny.The following two columns list the buy price and the sell value for an averageuncirculated. These are approximateretail pricesand wholesale values. The actual offer you receive from a particular coin dealer will vary depending on the exact grade of the coin and some otherfactors that determine its worth.
Common 1943 Steel Penny Values
Date & Mint
Circulated
Uncirculated
Buy
Sell
Buy
Sell
1943 Zinc
$0.10
$0.06
$2.60
$1.90
1943-D Zinc
$0.13
$0.09
$3.50
$2.40
1943-S Zinc
$0.18
$0.12
$6.10
$4.50
A Flawed Manufacturing Process by the U.S. Mint
To help the war effort by eliminating copper from U.S. pennies, the United States Mint came up with a new metallic composition for the one-cent piece. They decided to use steel for the base metal and plate it with pure zinc. Unfortunately, zinc oxidizes over time and turns into a dull and dark gray color.
Moisture came in contact with the coins as they circulated in commerce. The moisture caused the zinc coating to turn to an ugly blackish color. As the zinc coating wore off the steel core, the exposed steel underneath began to rust.
The manufacturing process for producing theplanchetswas also flawed. Mint workers first rolled a sheet of steel to the proper thickness. Next, the steel sheet was plated with zinc and passed through a blanking press. The blanking press punched coin blanks punched out of it. The manufacturing process resulted in bare steel exposed on theedge of the coin. As moisture attacked the edge of the coin, it would rust regardless of the surface condition of the rest of the coin.
Also, the public rejected this new coin. Some people got it confused with a dime that is almost the same size. As the coin began to circulate, it would turn ugly black, and the edges would rust. This caused problems with people's clothing leaving a rusting.
Valuable 1943 and 1944 Pennies
There are a few very valuable error coins produced in 1943. Since the mint makes billions of coins annually, they use enormous totes to move them around the mint facility. As the totes moved from machine to machine, sometimes a blank from the last batch would get stuck in a crevice. Most numismatists believe that a few copper planchets from 1942 got caught in a gap in the tote. The coining press struck the copper planchets with the 1943 date. Philadelphia, Denver, and San Francisco all produced these ultra-rare 1943 copper pennies.
In 1944 the mint switched back to using copper to produce the pennies. Once again, the totes contained a few zinc-coated steel planchets stuck in the crevices. The coining presses then produced 1944 pennies on zinc-coated steel planchets instead of bronze planchets.
These errors are extremely rare, but if you think you might have a 1943 copper penny or a 1944 steel penny, here's how tofind out if your 1943 copper penny is genuine.It may be one of the most valuable pennies ever!
The easiest way to determine whether or not your 1943 Cent has collectible value—to see if it is possibly bronze rather than steel—is simply to test it with a magnet. If the coin is magnetic, then it is, unfortunately, the common steel version and is not valuable in most cases.
The easiest way to determine whether or not your 1943 Cent has collectible value—to see if it is possibly bronze rather than steel—is simply to test it with a magnet. If the coin is magnetic, then it is, unfortunately, the common steel version and is not valuable in most cases.
There was still material left in the mint presses from the 1942 production so they accidentally made one batch out of copper. Only about 20-40 of those pennies are out there. A used one, as most are, can net you from $100,000 – $500,000.
Most 1943 Lincoln pennies in worn grades (average condition) trade for around 10 cents to 25 cents apiece. Typical examples in uncirculated condition usually realize $1 to $5. Top-level specimens in grades of Mint State-67 or better can go for much more, sometimes hundreds or even thousands of dollars.
To tell if your 1943 penny is worth a mil, put a magnet over it. If it sticks to the magnet, it is steel, but still worth anywhere between 20 cents and $20.
1. 1856 Flying Eagle Cent. The 1856 Flying Eagle Cent is one of the most rare and valuable pennies and is well worth seeking out. Only an estimated 1000 were struck by the US Mint as an unauthorized pattern coin in 1856, though the exact amount is unknown.
The 1943 copper penny is worth more than its face value. Due to its rarity and unique composition, this coin can fetch a high price of $100,000 to $250,000.
Here's a list of the top 10 most valuable pennies for 2023: 1) 1944 Steel Wheat Penny - $408,000. 2) 1943 Copper Wheat Penny - $250,000. 3) 1856 Flying Eagle Penny - $25,000.
The 1943 Lincoln, Steel cent should stick to a magnet and the red is a form of oxidization (rust) - the missing 4 is the result of a grease filled die (where the sunken area of the die is filled and prevents a design element from being fully struck).
Some mint marks are scarcer than others like the S in this coin's case, meaning that 1943-S steel pennies are often the most valuable (not including coins with rare errors). In addition to mint marks, it's essential to check for mint errors that may have occurred during the coin's production.
For a Lincoln cent, however, the 1943 copper penny is extremely valuable, with circulated examples selling at auction in the past two years bringing between $240,000 and $336,000. The unique 1943-D copper penny is held in a longterm collection and carries an estimated value of over one million dollars.
The 1943 Penny is a steel penny. If you see no mint mark, the absence of a mint mark means it was minted in Philadelphia. CMV (Current market value) in circulated condition is in the range $2-3. In fine condition (it would need to be professionally graded) value can be in the range $10-12.
The 1943 Penny is a steel penny. If you see no mint mark, the absence of a mint mark means it was minted in Philadelphia. CMV (Current market value) in circulated condition is in the range $2-3. In fine condition (it would need to be professionally graded) value can be in the range $10-12.
Pass a sizeable magnet, preferably larger than a refrigerator magnet, over your penny. Did it pick the penny up? If it did not pick the penny up or attract it with a noticeable force, it is not a steel penny. If it picked the penny up, your penny is made from steel.
According to Lukes, there are 17 1943 Bronze Cents known (10 from Philadelphia, six from San Francisco, and one from Denver); this conflicts with another census that lists 12 from Philadelphia.
Introduction: My name is Duane Harber, I am a modern, clever, handsome, fair, agreeable, inexpensive, beautiful person who loves writing and wants to share my knowledge and understanding with you.
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