If it does not stick, the coin might be of copper and should be authenticated by an expert. If it sticks to the magnet, it is not copper. Roughly 20,000 of these pennies were released in 1955, and most were distributed as change from cigarette vending machines.
The easiest way to determine if a 1943 cent is made of steel, and not copper, is to use a magnet. The 1955 Doubled Die Penny is a unique coin that features a double image due to misalignment in the minting process. The highest amount paid for a 1943 copper cent was $82,500 in 1996.īecause 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. A subsequent piece sold for $10,000 at an ANA convention in 1981. 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.Ī 1943 copper cent was first offered for sale in 1958, bringing more than $40,000. Nearly all circulating pennies at that time were struck in zinc–coated steel because copper and nickel were needed for the Allied war effort.Īpproximatcopper–alloy cents are known to remain in existence. One that’s been circulated could sell for $150,000 to $200,000, but prices can fluctuate significantly.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. The 1943 bronzed Lincoln penny is described as “the most famous error coin in American numismatics,” CNBC Make It pointed out, and the odds of finding one are not in your favor. $10,000 Quarter: This 1999 Georgia Coin Is Worth Big Money Because of an ErrorĪ penny’s worth depends on its quality and rarity, CNBC Worth It added. He advises keeping a close eye on your coins to increase your odds of finding something rare. Double die pennies are coins that have been struck twice by a metal die during the minting process.īlake Alma, a coin collector and founder of the coin-collecting blog CoinHub in Lebanon, Ohio, told Fox News Digital that doubled die pennies can have doubled artwork and text that are a “minor deviation” or a “major structural anomaly.” Fox Business pointed out that many of these double die pennies are listed in the high $1,000 and $2,000 range on sites like eBay.įinding these rare coins is usually left up to chance, Alma explained. In January, a 1958 double die penny sold for a record $1.136 million through an auction held by GreatCollections Coin Auctions, the fastest-growing coin and paper money auction house in the U.S, reported Fox Business. A few errors were made on the steel coins, making them rare and valuable pennies.Īnother rare penny is the “double die” penny. According to, the cent was 95% copper until copper was needed for war in 1943 and the penny’s composition changed to zinc-coated steel for the year. For some reason this coin, more than any other, has lodged itself. Wheat pennies, which depict an image of Abraham Lincoln on one side and two stalks of wheat on the other, were minted from 1909 until 1958. If you have heard of only one rare coin, there is a good chance that it is the 1933 penny.
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They could be worth thousands of dollars to avid coin collectors. Before you toss your old pennies in the coin jar, take a closer look at them.
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