1943 Steel Penny Value: How Much They Are Worth Now

Most steel pennies are deserving between 20 cents and 20 dollars. Prices for 1943 penny mistake coins, like the 1943-D doubled mintmark diverseness, can reach several hundred dollars. There are few vintage coins as widely collected as the 1943 steel Lincoln penny. This applies within and even beyond the numismatic kingdom. This unusual-looking Lincoln Wheat penny is unlike any other United States one-cent mint. Its zinc-coated steel typography makes this mint resemble a dime bag more than a typical U.S. penny. But why were these odd coins made, what are they worth, and how does a hobbyist go about collecting 1943 steel cents ? Ed. note: This article is periodically updated to reflect the current value of 1943 steel cents.

lincoln wheat cent steel 1943 Lincoln Wheat penny, steel composition. double : USA CoinBook Listen to this post about the 1943 steel penny or keep reading below:

History: Why the Lincoln Cent Was Made of Steel in 1943

The steel penny may seem like a random anomaly to some. Yet the mint has a critical connection to an external historic event. The 1943 steel cent was produced during the altitude of World War II. This global conflict saw the United States military ‘s participation from 1941 through 1945. During World War II, the Allied Forces needed many substantive resources to help optimize achiever in the war. These materials, including copper and nickel, were used for producing ammunition and weapon. however, bull and nickel were besides integral in making coins. therefore, alternate metals were considered for minting coins. These coins traditionally consisted by and large of copper and nickel. therefore, the Lincoln penny and Jefferson nickel became prime targets for irregular but necessity metallic alterations. An act of Congress in 1942 approved a probationary 35 % silver composition for the nickel. This paved the way for an emergency composition for the one-cent coin as well. A litany of tests and patterns followed for the hand brake constitution, including credit card and glass. The most cost-efficient surrogate metal for the Lincoln penny was determined to be a 99 % steel planchet with a slender layer of zinc plate. These zinc-coated steel planchets represented an efficient and low-cost way to make the 1943 pennies while rationing copper for the war campaign. The diameter remained 19.05 millimeter and the portrayal of Abraham Lincoln stayed the like. however, many in the public were less than thrilled with the alternative composition. The steel cents were much confused with the dime, causing some folks to lose 9 cents ( or more ) in a cash transaction. Others blasted the coins for their inclination to quickly rust once the forbidden zinc coating wore off the coin, exposing the steel core. The United States Mint finally acquiesced to the concerns of the public. After equitable one year, in 1944 the US Mint resumed using a copper-based writing for the Lincoln cent. This was accomplished by using copper shell casings gathered from military aim facilities. These alleged blast casing cents, struck through 1946, consist of 95 % copper and 5 % zinc. This is reasonably different than the distinctive 95 % copper, 5 % can and zinc musical composition by and large used at the time for producing Wheat pennies .

1943 Steel Cent Value

Most 1943 steel Lincoln pennies aren ’ thymine worth much above their font value ( one penny ). This may come as something of a surprise to the many who believe these coins are quite valuable. That common misperception likely stems from the popularity of the well-known 1943 bronze cents. This off-metal transitional error was incidentally struck when a few leftover 1942 copper planchets were fed through the presses at the Philadelphia, Denver, and San Francisco Mints. The 1943 copper penny is extremely rare and valuable. only a couple twelve pieces were made and exist today, and each is worth about $ 100,000. While 1943 copper cents weigh about 3.11 grams and don ’ t stick to a magnet, the more coarse sword cents ( which weigh 2.7 grams ) adhere to a attraction. When it comes to evaluating 1943 Lincoln cents, the couple of a attraction and gram scale has broken many hearts and burst many bubbles over the years. The record monetary value for a 1943 copper Lincoln penny is over $ 1.7 million at auction in 2010. The 1943 steel cents are quite common, and more than 1 billion were struck for circulation. Broken gloomy by each mint, the individual mintages are as follows :

many 1943 steel cents ultimately corroded beyond realization or were otherwise lost to time. however, there are still millions of collectible 1943 pennies out there. Hence, these are relatively common coins and are worth relatively little collector value in mobilize grades. 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 .

How Rare Is the 1943 Steel Penny?

There are besides some significant varieties among the 1943 steel cents, including the 1943-D/D repunched mintmark. This widely collected diverseness is worth more than $ 100 in highly Fine-40 and upward of $ 400 in Mint State-63. While there is no sleep together mintage figure for the 1943-D/D Lincoln cent, it ’ south estimated that possibly 3,000 to 5,000 examples may exist across all grades. differently, non-error steel cents are not in themselves rare. Their value lies in their freshness. How much a steel penny is worth is very pendent on the condition of the coin .

What About 1944 Steel Cents?

1944 steel Lincoln cent 1944 sword Lincoln penny. image : PCGS As mentioned above, 1943 copper pennies are rare and valuable. Their steel counterparts are a lot more common. ironically, the transition back to the convention bronze composing in 1944 reversed this situation ! 1944 bronze cents are coarse, but a few of the steel-coated zinc coins were minted that year by error. therefore, 1944 steel cents are exceptionally scarce and command very high values. Confusing which is which between the two years could cost you dearly in your coin collection .

Collecting the 1943 Lincoln Penny

many mint collectors include the assorted 1943 pennies among their larger collections of Lincoln cents. however, the trio of business-strike Philadelphia, Denver, and San Francisco 1943 Lincoln steel cents constitute a very democratic annual light put. This set is normally sold in mass-market offerings. Often they are “ reprocessed ” ( stripped and recoated ) pieces assembled in formative expose cases. then they are sold via general-readership newspaper and magazine advertisements. There is no right or ill-timed way to collect 1943 Lincoln cents. Given their bangle, they besides make great gifts. Steel pennies have helped spark numismatic interests in folks who otherwise may not have become mint collectors. indeed, whether collected as separate of a unretentive set or incorporated into a larger run of Lincoln cents, the 1943 steel pennies are favorites among non-numismatists and veteran coin collectors alike. Joshua McMorrow-Hernandez is a journalist, editor program, and blogger who has won multiple awards from the Numismatic Literary Guild. He has besides authored numerous books, including works profiling the history of the United States Mint and United States neologism. More about rare coins and coin values from the author: Are Silver & Gold Magnetic ? here ‘s How to Test Your Silver & Gold Buffalo Nickel ( 1913–1938 ) : Values & History What Dimes Are Worth Money ?

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Category : Coin collecting

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