Which 1943 steel penny is valuable? In 1943, copper was badly needed for World War II military supplies, so the U.S. Mint produced Lincoln pennies using zinc-coated steel planchets instead. A few copper planchets were accidentally minted that year, making them incredibly rare and valuable to collectors today.
If you’re short on time, here’s a quick answer: The 1943 copper pennies are by far the most valuable, with recent sales over $200,000 for coins graded AU-58 by PCGS or NGC. All 1943 steel pennies have some value to collectors, but only uncirculated examples are worth more than face value.
Background on the 1943 Steel Pennies
Wartime Switch to Steel Planchets
In 1943, the United States Mint changed the standard coin planchet composition from a copper-zinc mix to low-grade carbon steel due to copper shortages caused by World War II.
Copper was considered a strategic war material at the time and was desperately needed to produce vital munitions and communications equipment for the war effort (upwards of 75% of US copper production went directly to military use from 1942 to 1945).
As the war ramped up, rationing and material substitutions became necessary across many consumer and industrial sectors. Thus, for one year only, all circulating Lincoln cents were struck on zinc-coated steel planchets before returning to the standard bronze composition in 1944.
The steel cents stand out for their different visual appearance. They have a gray, metallic color compared to the warm, reddish tone of bronze cents. They also react differently to oxidation and corrosion over the years.
Well-worn, corroded steel cents can take on blackened, pitted surfaces or even flake away the outer zinc coating to expose the dull gray steel underneath. These differences make the 1943 steel cents very popular among modern coin collectors and historians interested in WWII memorabilia.
A Few Copper Planchets Got Through
Although nearly all 1943 Lincoln cents were struck in steel, a small number of bronze planchets from 1942 were caught in the machines and presses at both the Philadelphia and San Francisco Mints. These bronze planchets were accidentally mixed with the new steel blanks and were struck into rare 1943 copper pennies.
Only an estimated 20 such copper pennies were minted, making them extremely valuable rarities today.
In recent years, authenticated 1943 copper cents have sold at major coin auctions for over $200,000 per coin. Their value lies in their unique minting flaw and extreme rarity as outliers to the millions of common steel cents struck that year.
Collectors compete fiercely to obtain one of these vintage wartime errors that literally slipped through the cracks. They offer a tangible window into the unusual coin manufacturing adjustments that were necessary during the moments of WWII.
Value of the 1943 Steel Pennies
A high value of the rare copper examples
The 1943 steel pennies are quite valuable for collectors, especially the rare copper versions mistakenly produced that year. Out of the nearly 1 billion steel cents made in 1943, only about 20 copper examples are known to exist.
These 1943 copper pennies are immensely rare and desirable for serious numismatists.
In auction, the 1943 copper pennies have sold for over $200,000 in the past. One was even sold privately for a record price of $1.7 million in 2010, showing how coveted they are. Experts estimate each legitimate copper example could be worth at least $100,000 or more today.
Uncirculated steel pennies worth a premium
While the 1943 steel cents are common, ones graded in pristine uncirculated condition carry a solid premium over their face value. Uncirculated examples usually sell for $3-5 each and up depending on if they have any noteworthy characteristics.
Exceptional uncirculated pieces with qualities like mirror surfaces, attractive toning, dramatic doubled die details, or wide, dramatic overdates can bring $50 or more apiece. So carefully checking your 1943 steel cents for premium attributes can pay off handsomely.
Circulated steel pennies only face value
Unfortunately, the vast majority of 1943 steel pennies show at least some wear from circulation. While still collectible as wartime relics, circulated examples have no premium over face value and generally sell for around 1 to 5 cents apiece in bulk.
Of course, circulated examples in very worn, battered condition are worth only melt value. But decent specimens with date details visible still carry some historical intrigue for Lincoln cents collectors working on a date and mint mark sets.
How to Identify Genuine 1943 Copper Pennies
Visual inspections
There are a few visual cues that can help determine if a 1943 penny is a rare copper version rather than the common zinc-coated steel version. Check the coin’s color – copper pennies have a distinctive bright copper shade while the steel pennies appear more gray or silver.
Also, inspect the coin’s weight and magnetic properties. Copper pennies feel heavier in your hand and are non-magnetic. Steel cents will stick to a magnet.
Examine the coin closely under good lighting, at least a 10x magnification. Look for the small “S” mintmark placed on the reverse of some proof coin editions. This indicates it could be a valuable 1943 copper coin.
Also, check for an almost frosty-like luster – the surface of a circulated steel penny would show clear evidence of wear.
Professional grading service authentication
For further validation, individuals can send their 1943 pennies to a professional coin grading service like PCGS or NGC. Graders will authenticate if coins are legitimate rare copper versions by conducting composition analysis and assessing attributes like surface conditions, strike sharpness, etc.
Coins are sealed in sonically welded cases with certification numbers and grades. Fees range between $50-$100 per coin.
Collectors should be wary of potential counterfeits. Counterfeit 1943 copper cents have been increasing in recent years to exploit demand. They can resemble real copper cents through visual inspections alone.
Use reputable grading companies like PCGS and NGC which guarantee all certified collectibles are genuine.
Taking Care of Your 1943 Steel Pennies
Proper long-term storage
To preserve the value of your 1943 steel pennies over time, proper storage is key. The best method is to store them in 2×2 cardboard coin holders or coin capsules. This protects the coins from wear and tear. Avoid PVC plastic holders, as they can cause the coins to tarnish over the long run.
Store the coin holders in a cool, dry place away from direct light. A safety deposit box is ideal, but a closet or drawer works as well. Avoid attics or basements with frequent temperature and humidity changes.
For extremely valuable coins graded MS65 or higher, use archival-quality coin folders instead of capsules for the most protection.
Avoiding damage and wear
When handling your steel pennies, be very gentle to avoid fingerprints and scratches which can decrease collector value. Always hold the coins by their edges and wear cotton gloves if possible. Use a soft, clean cloth to wipe away debris. Never rub the coins harshly.
Avoid exposing coins to household cleaners, as they can damage the surfaces. Do not attempt to clean or polish coins yourself, as this requires special equipment and expertise. Instead, you can pay a reputable professional grading service to conserve and encapsulate the coin for long-term preservation.
Encapsulated coins with official grades command higher premiums when selling or adding to your collection.
Which 1943 Steel Penny Is Valuable – Conclusion
While most 1943 steel pennies are only worth face value if circulated, uncirculated examples and the very rare copper issues can be tremendously valuable. By knowing how to identify, authenticate, grade, and properly store any 1943 pennies you come across, you can discover if you have a hidden treasure in your pocket change.
