Discovered a 1943 Copper Penny? It Could Be Worth Over $677,000!

Just found a 1943 copper penny? Wait! Take a second and verify it once again. That little coin in your palm might prove to be worth more than a luxury car-even possibly a house! While some of these rare examples of pennies have fetched over $677000 in the auction, another version sold for a record $1.7 million.

This article shall delve into everything regarding this penny’s value, how to ascertain that yours is a genuine penny, what to do if and when you do find one, and much more. We will dig into the fascinating history of this very rare coin, review the tips on scamming, and get real-life advice from experts in numismatics.

Found a 1943 Copper Penny?

Before heading to your coin jar, let us dig into the story behind this very fascinating piece of history in U.S. coinage. One of the most amazing and prized coins in American numismatics is the 1943 copper penny. It holds a value of a whopping $1.7 million, so great is this tiny piece of metal in both the historical and the monetary value it embodies.

Be it a casual or serious collector, knowing what to look for might someday save you a pretty penny. From performing easy tests to knocking on professional doors, it’s worth going through the trouble to verify a 1943 copper penny.

So, when you sift through your change next, don’t overlook the little lincoln. Holding up the humble penny could be a slice of history-and perhaps a fortune.

So What Makes the 1943 Copper Penny So Valuable?

To understand why 1943 copper penny are exceptionally valuable, you have to take a quick trip back to World War II. The United States needed copper for making wartime manufactured items-mainly shell casings, telecommunication wires, and many more military needs-in 1943. The Mint, therefore, changed the penny to a zinc-coated steel composition to save copper.

However, a few copper planchets, the discs blank enough to produce pennies, remained in the coin presses at the time of changing the blanks, and on the 1943 date, they were struck as well, producing what now would be referred to as the ultra-rare 1943 copper penny.

Apart from that, only about 20 to 40 investable coins of this kind are known today, making them highly valuable coins sought after from the entire globe. Even expert coin collectors have often found themselves going through their lives without laying eyes on these coins.

All this makes these pennies not just a rarity but a backstory attached to American history, and because they were inadvertently made, every such specimen that survived is a treasure by itself in numismatics.

How Do I Identify a Genuine 1943 Copper Penny?

Not all 1943 pennies are valuable; over a billion steel pennies were struck that year, making these silver-gray coins very common. How will you tell if your coin is one of the very few copper ones?

Step 1: Do a Magnet Test

Steel is magnetic but copper is not, so one of the simplest ways you can start testing your coin is with a basic magnet test.

• If it sticks to the magnet, it’s a steel penny.
• If it doesn’t stick, this coin may just possibly be made of copper-and there’s reason for excitement.

Step 2: Weigh Your Penny

Weigh your penny using a high-precision digital scale:

• A steel penny weighs about 2.7 grams.
• A copper penny should weigh about 3.11 grams.

Make sure you have calibrated your scale before testing to guarantee accuracy. Slight weight changes can make a difference.

Step 3: Examine the Coin Closely

Counterfeiters have been reworking pennies for years and years. The classic scam is the changing of the “8”-in 1948 it could be made to resemble a “3”. Get a magnifying glass or jeweler’s loupe to examine that date thoroughly. Look for any signs of tampering: tool marks or inconsistent styles of font.

Step 4: Seek Professional Appraisal

After taking these tests, bring the coin in front of the professionals. Send it for professional grading and authentication by PCGS (Professional Coin Grading Service) or NGC (Numismatic Guaranty Company). These organizations will be able to authenticate the coin and assign a grade that will help determine its value in the marketplace.

Famous 1943 Copper Penny Sales

Some of these 1943 copper pennies have made the news because of the staggering sale price:

• In 2010, it sold for $1.7 million, the only known 1943-D copper penny.
• In 2021, the selling price realized at auction for an MS62BN graded 1943 copper penny minted in Philadelphia amounted to $372,000.
• The 1943-S copper penny struck at the San Francisco Mint is prized by collectors and can cost anywhere from $300,000 to over $1 million, depending on the condition.

These coins can often be auctioned through major houses such as Heritage Auctions or Stack’s Bowers, where bidder competition can push prices sky-high.

Why are so Few of These Pennies Surviving?

The simplest and rare minting error is what issued the 1943 copper pennies into existence. When the switch from copper to steel blanks was occurring, some leftover copper planchets from 1942 were accidentally mixed in the production line. Those planchets were struck, distributed, and then circulated.

This was by no means an intentional release; hence, production figures are very minimal. The popular estimates are between 20-40 good 1943 copper pennies across all the mints. Their scarcity is what fuels their astonishing market value.

What to Do if You Think You Have a 1943 Copper Penny

Finding what could potentially be a penny worth hundreds of thousands of dollars is certainly exciting, but don’t rush! These are the steps to follow to maximize your chance for a successful appraisal or sale:

1. Avoid Cleaning the Coin
   Never, ever clean a possibly valuable coin. Cleaning could create micro-scratches that will greatly devalue it and should be reserved for the professionals when conservation is necessary.
2. Safeguard It
   Place the coin in a protective case or holder designed specifically for coins. Keep it in a cool, dry place, away from humidity and sunlight. This will help keep it in good condition while you seek out an expert to evaluate it.
3. Reach Out to a Reputable Dealer or Grading Service
   Make sure you only deal with numismatists or grading services who are reputable and experienced. Reliable experts can be found through organizations such as the American Numismatic Association (money.org) and local coin clubs.
4. Go for Auction or Private Sale
   After authenticity is established, your coin may attract attention by collectors, investors, or even museums. Leading auction houses can give the ideal platform to get in touch with serious buyers ready to pay top dollar.

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