Value of 1943 Steel Pennies: Most 1943 steel pennies are worth between 20 cents and 20 dollars. However, some special ones, like the 1943-D doubled mintmark coins, can be valued at several hundred dollars. To get the most reliable information about coin values, it’s best to trust experts rather than hobby websites.
What Are Steel Pennies?
Value of 1943 Steel Pennies: Steel pennies are special coins called Lincoln Wheat cents made in 1943. During World War II, the U.S. Mint created these pennies using steel to save copper for the war effort. In 1944, they went back to making pennies from copper again.
The 1943 steel Lincoln penny is one of the most collected vintage coins. This unique coin is different from other U.S. pennies because it looks more like a dime due to its steel and zinc coating. But why were these unusual coins made? Let’s find out!
1943 Copper Pennies Are Insanely Valuable
A few pennies made in 1943 were mistakenly created with the usual bronze metal that contains 95% copper. These rare 1943 copper pennies are very valuable, with only a couple of dozen still existing today. Each one can be worth around $100,000. In fact, one sold for over $1.7 million at an auction in 2010!
The 1943 copper cents weigh about 3.11 grams and don’t stick to magnets, while the more common steel cents weigh only 2.7 grams and do stick to magnets. Many collectors use a magnet and a scale to check their pennies.
Why Was the Lincoln Cent Made of Steel in 1943?
Value of 1943 Steel Pennies: The steel penny has a historical significance connected to World War II. During the war, the U.S. needed essential resources, including copper and nickel, for making weapons and ammunition. Because of this, they had to use alternative metals for coins.
In 1942, Congress approved using a special 35% silver composition for nickels. This led to the creation of steel pennies in 1943. The mint used 99% steel with a thin layer of zinc for these coins to save copper. The size and design remained the same, with a 19.05 mm diameter and Abraham Lincoln’s portrait.
However, many people were not happy with the steel cents. They often confused them with dimes, which led to some losing money in transactions. Additionally, the coins would rust if the zinc coating wore off. Because of these issues, the U.S. Mint returned to copper coins in 1944, using shell casings from military training.
1943 Steel Cent Value
Most 1943 steel Lincoln pennies aren’t worth much more than their face value. Many people think these coins are valuable, but they are actually quite common. Over 1 billion steel cents were made. Here’s how many were produced at each mint:
| Mint Location | Number of Coins Made |
|---|---|
| 1943 Philadelphia | 684,628,670 |
| 1943-D Denver | 217,660,000 |
| 1943-S San Francisco | 191,550,000 |
While many of these coins corroded or were lost over time, millions are still out there. In average condition, most 1943 Lincoln pennies sell for around 10 to 25 cents. In uncirculated condition, they can go for $1 to $5, while top-quality coins can be worth hundreds or even thousands.
How Rare Is the 1943 Steel Penny?
The 1943 steel cents have some notable varieties, like the 1943-D/D repunched mintmark, which can be worth over $100 in good condition and even $400 in mint condition. However, most steel cents are not rare. Their value mostly depends on their condition.
What About 1944 Steel Cents?
Although 1943 copper pennies are rare, steel pennies are much more common. In 1944, the U.S. Mint accidentally made a few steel-coated zinc coins, making them rare and valuable.
Collecting the 1943 Lincoln Penny
Many collectors love adding 1943 pennies to their collections. There are three main types of 1943 Lincoln steel cents from different mints, and they are popular among collectors. You can buy them in sets, sometimes sold in plastic cases through ads in newspapers and magazines.
There’s no right or wrong way to collect these coins. They make great gifts and can spark interest in coin collecting for many. Both beginners and experienced collectors enjoy the unique 1943 steel pennies.
Conclusion
Value of 1943 Steel Pennies: In summary, the 1943 steel penny is a fascinating piece of history. It reflects the resourcefulness of the U.S. Mint during World War II. While most steel pennies aren’t worth much, some special varieties can be very valuable. Whether you’re a seasoned collector or just starting, the 1943 steel penny can be an exciting addition to any coin collection!
VCS NEWS HOME
FAQs
What is the value of a typical 1943 steel penny?
Most 1943 steel pennies are worth between 10 cents and 25 cents in worn condition.
How can I tell if my 1943 penny is steel or copper?
You can use a magnet; if it sticks, it’s a steel penny. Copper pennies will not stick to a magnet.
What makes the 1943 copper penny so valuable?
The 1943 copper penny is rare, with only a few dozen existing today, making it worth around $100,000 or more.
How many 1943 steel pennies were made?
Over 1 billion 1943 steel pennies were produced across different mints.
Why were steel pennies made instead of copper?
Steel pennies were created to save copper for the war effort during World War II.