What's So Special About 1943 Copper Penny? | U.S. Mint (2024)
March 8, 1999
According to the American Numismatic Association, the 1943 copper–alloy cent is one of the most idealized and potentially one of the most sought–after items in American numismatics. Nearly all circulating pennies at that time were struck in zinc–coated steel because copper and nickel were needed for the Allied war effort.
Approximately 40 1943 copper–alloy cents are known to remain in existence. Coin experts speculate that they were struck by accident when copper–alloy 1–cent blanks remained in the press hopper when production began on the new steel pennies.
A 1943 copper cent was first offered for sale in 1958, bringing more than $40,000. A subsequent piece sold for $10,000 at an ANA convention in 1981. The highest amount paid for a 1943 copper cent was $82,500 in 1996.
Because of its collector value, the 1943 copper cent has been counterfeited by coating steel cents with copper or by altering the dates of 1945, 1948, and 1949 pennies.
The easiest way to determine if a 1943 cent is made of steel, and not copper, is to use a magnet. If it sticks to the magnet, it is not copper. If it does not stick, the coin might be of copper and should be authenticated by an expert.
Unusual Pennies: In 1943, pennies were made of zinc-coated steel because copper was needed during World War II. At the beginning of 1943, a limited number of copper pennies were struck by mistake. In honor of the Mint's 225th anniversary in 2017, pennies made in Philadelphia had a “P” mint mark
mint mark
Mint marks are letters that identify where a coin was made. They hold the maker responsible for the quality of a coin. When the U.S. used precious metals such as gold and silver to make circulating coins, a commission evaluated the metal compositions and quality of coins from each of the Mint facilities.
In 1943, the United States Mint switched from using copper to using steel for their pennies. The change was due to a shortage of copper during World War II. However, a small number of 1943 copper pennies were made by mistake — as a result, the 1943 copper penny is now one of the most valuable pennies in circulation.
It is estimated that there were 40 1943 copper pennies produced, and of those 40, there are 27 known surviving coins. Their rarity makes them one of the most coveted and sought-after items in American numismatics.
(719) 632–2646. P.S. --- according to other calculations there are only a dozen of these pennies left on earth. Anyone's chances of having one is 1 in 15 million. Here you can confirm that only 40 of these pennies were ever minted and that only 12 remain unaccounted for.
According to Gainesville Coins, most circulated 1943 steel pennies trade for around 10 to 25 cents each. Uncirculated examples can be worth $1 to $5, with top-level specimens in Mint State-67 or better sometimes fetching hundreds or even thousands of dollars (Gainesville Coins).
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.
A: All U.S. pennies, regardless of their year of minting, are considered legal tender and can be used to pay for goods and services. However, pre-1982 pennies contain a higher copper content and may be worth more than their face value to collectors.
What to Do If You Think You Have One. If you have performed the test linked above, and you truly believe your 1943 Lincoln penny is the rare copper variety, you need to have it authenticated by a professional. Ultimately, you need to send it to a third-party grading service to have it authenticated and encapsulated.
Some 1943 steel pennies were coated in copper and sold as real copper pennies. These are easily identifiable since you can just check if it sticks to a magnet (steel is magnetic, copper is not).
How do I know if I have the copper 1943 Wheat Penny? This is a very simple test. Go get a magnet. If the coin sticks to the magnet, it's made of steel and worth about 10 cents.
A tiny number of cents were mistakenly struck that year on the copper planchets that had been used previously. It is believed these coins were made because some copper planchets had been left in the hoppers when the steel cents were being made.
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. There has never been a silver penny issued by the U.S. mint.
How do I know if I have the copper 1943 Wheat Penny? This is a very simple test. Go get a magnet. If the coin sticks to the magnet, it's made of steel and worth about 10 cents.
If your 1943 penny is made out of copper, it is worth quite a bit of money, generally $10,000 or more! The reason is that the 1943 copper penny is an error coin. The United States Mint accidentally used the wrong planchet metal when striking the coin. But very, very few of these left the U.S.
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