The 1943 Steel Penny Valued At $1.4 Million – Still In Circulation And Easily Overlooked

The 1943 Steel Penny Valued At $1.4 Million – During most of World War II, it was reduced to Smithsonian Institution in Washington, D.C up to the present, the 1943 steel penny is one of the most fascinating pieces of evidence on the history of numismatics in the United States. This is a series that was minted during the World War II to replace copper pennies and although they are ordinary looking, they are definitely interesting to collectors. Yet, one fatal error made the 1943 steel pennies cost $1.4 million each, occasionally. Is this great fortune already in your purse?

The Story of the 1943 Steel Penny

During World War II, copper was a vital material used in the production of ammunition. To save copper, in 1943 the US Mint produced steel coins that were coated with zinc. These coins were lightweight and had a silvery color. However, some of the copper plates were accidentally used, creating the extremely rare 1943 copper penny.

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Key features of the 1943 steel penny:

Material: Steel core and zinc coating
Color: Silver-gray, compared to the traditional bronze penny
Weight: 2.7 grams, which is lighter than the copper penny

Why are some 1943 pennies worth up to $1.4 million?

Not all 1943 pennies are valuable; only coins that are minted on copper plankets hold high value. There are a few main reasons behind this:

1. Minting mistakes

The 1943 copper penny was made from copper plankets that were accidentally inserted into the minting press. These mistakes are very rare, and only 15-20 examples are known.

2. Unique look

Unlike the steel penny, the copper penny has a reddish-brown color, which makes it easy to identify, if you know how.

3. High Auction Value

In good condition, a 1943 copper penny has sold for up to $1.4 million at auction.

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1943 Steel Penny vs. Copper Penny

Feature	1943 Steel Penny	1943 Copper Penny
Material	Steel + Zinc Coating	Copper
Color	Silver-gray	Reddish-brown
Weight	2.7 grams	3.11 grams
Rarity	Common	Extremely rare
Value	$0.05 – $10 (Circulated)	Up to $1.4 million

Ways to Identify a 1943 Copper Penny

Pay Attention to Color

The copper penny has a reddish-brown color, while the steel penny has a silvery color.

High Auction Value

The steel penny is magnetic, while the copper penny is not. You can easily spot the difference with a magnet.

Measure the Weight

The copper penny weighs 3.11 grams, while the steel penny weighs 2.7 grams.

Check for Mint Marks

Look for mint marks D (Denver) or S (San Francisco), as well as the absence of mint marks (Philadelphia).

Get a Professional Appraisal

If you think you have a real 1943 copper penny then consult an expert in the field such as the PCGS or NGC grading services.

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Conclusion

The 1943 steel cent, and its significantly rarer copper equivalent, offer a glimpse in to the United States’ history in the Second World War. When it comes to pennies, there are many steel pennies that have circulated through circulation but very few copper pennies with such a great value as a treasure. People can learn that sometimes knowledge of a few coins may result in a discovering a piece worth a large sum of money. The next time you shake your wallet and check the content, look at the copper reddish-brown penny; you just might find the $1.4m hidden somewhere!