The 1943 Steel Lincoln Wheat Cent is one of the most fascinating and valuable coins in American numismatic history. Struck during World War II, this penny was part of an emergency shift in coin production due to the scarcity of copper.
The unique circumstances surrounding its creation, coupled with errors and counterfeits, have made it a sought-after coin for collectors.
In this guide, we will explore the history behind the 1943 Steel Penny, the error varieties that make it so valuable, and how to spot fake coins to ensure you’re not duped.
Contents
Story Behind the 1943 Steel Cent
During World War II, copper was needed for military purposes, such as ammunition and electrical wiring, leading the U.S. Mint to look for alternative metals for coin production.
In 1943, the Mint decided to use steel for pennies, plating them with zinc to prevent rust. The resulting coins had a distinctive silver-like appearance that set them apart from traditional copper cents.
While the coins served their purpose during the war, the steel pennies were prone to rusting, and their appearance often confused people into thinking they were dimes.
The steel cent was discontinued in 1944, once copper became available again, and has since become a symbol of ingenuity during wartime.
Notable Errors: The 1943 Copper Cent and 1944 Steel Cent
Due to the unusual circumstances of the 1943 Steel Lincoln Wheat Penny, there are two error varieties that have become highly collectible:
| Error Variety | Details | Value |
|---|---|---|
| 1943 Copper Cent Error | Struck on leftover copper planchets instead of steel. | Up to $1 million |
| 1944 Steel Cent Error | Struck on leftover steel planchets from 1943 despite using copper. | Up to $373,750 |
1943 Copper Cent Error
Some 1943 pennies were mistakenly struck on leftover copper planchets from the previous year. These extremely rare coins are highly sought-after, with some fetching six-figure sums.
Magnet testing is a reliable way to verify whether a 1943 penny is authentic. Copper is non-magnetic, while steel is magnetic.
1944 Steel Cent Error
In 1944, the Mint resumed using copper, but some steel planchets from 1943 were mistakenly used. These 1944 Steel Cents are also rare and highly valuable.
Like the 1943 copper error coins, magnet testing can identify these coins because they are made of steel, unlike the typical copper cents from 1944.
Warning: Counterfeit Copper-Plated 1943 Steel Cents
Due to the high demand for the 1943 Copper Penny, counterfeiters often copper-plate steel pennies to make them look like the valuable copper coins.
While they may appear authentic at first glance, there are a few simple tests you can use to spot a fake:
How to Spot a Fake 1943 Copper Cent
- Magnet Test
- Real 1943 copper cent: Non-magnetic.
- Steel-plated fake: Magnetic.
- Weight Check
- Real 1943 copper cent: Weighs 3.11 grams.
- Steel cent (plated): Weighs about 2.7 grams.
- Visual Inspection
- Check the color of the coin. Authentic copper pennies have a reddish-brown hue, while steel coins have a silver-like appearance.
How to Collect the 1943 Steel Lincoln Wheat Cent
The 1943 Steel Lincoln Wheat Penny is a unique piece of U.S. history, and collecting these coins can be a rewarding hobby.
Whether you’re collecting the standard steel cents or hoping to find one of the rare error coins, these pennies are valuable additions to any collection.
To maximize the value of your collection:
- Authenticate: Always ensure the coin is genuine by consulting with a professional numismatist.
- Grade: Coins in mint condition fetch higher prices, so it’s worth investing in getting your coin graded.
- Buy from Reputable Sources: When purchasing a rare penny, only buy from well-known dealers or auctions.
The 1943 Steel Lincoln Wheat Cent is a rare piece of American history that continues to captivate coin collectors today.
The mistakenly struck copper coins from 1943 and the 1944 steel error coins are highly prized and can fetch tens of thousands to hundreds of thousands of dollars.
If you have a 1943 penny, be sure to check its composition and condition to determine if you’re holding a rare and valuable treasure. With proper testing, authentication, and grading, these pennies could become valuable assets in your coin collection.
FAQs
How much is a 1943 Steel Lincoln Wheat Cent worth?
The value varies based on condition, but the 1943-D Bronze Cent can fetch up to $840,000 at auction. The more rare error coins, like the 1943 copper cent, can also be worth hundreds of thousands of dollars.
How can I tell if my 1943 penny is rare?
Magnet test: If the coin sticks to a magnet, it’s likely the steel version. If it doesn’t, it could be a rare bronze coin.
Weight test: A steel penny weighs less than a copper penny.
Color: The steel cent has a silver-like appearance, while a copper cent will have a reddish-brown color.
Why are the 1943 and 1944 error cents valuable?
These coins are valuable due to their rarity and the unique circumstances surrounding their minting. Only a small number of incorrectly struck pennies were produced, making them highly collectible among numismatists.
2 thoughts on “Could Your 1943 Penny Be Worth $840,000? Learn How to Identify Rare Lincoln Wheat Cents!”
I have some coins for sale , and I have to of the 1943 steel cent .
And a lot more coins .
I have a 1943 steel wear penny I’d like to sell it does stick to a magnet