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Alright, now that your writer has checked his coin stash here we go… Did you know that there is a penny in circulation TODAY that is worth $282,000? Yeah, we were surprised too. It turns out that one of them sold a few years ago in 2017 at an auction in Denver according to local news outlets. What’s the particular coin in question? The 1943 copper penny.
12News in Denver reported,
“The Lincoln penny is coveted because it was supposed to be made of zinc-coated steel due to copper shortages during World War II but it was erroneously made of bronze left over from 1942. This occurred when some bronze blanks from the previous year became lodged in the trap door of a tote bin used to feed the delivery system of the coin presses.
Beginning in 1943 all U.S. pennies were made from zinc-coated steel. Popularly referred to as “steelies,” these oddities have always been popular with collectors.”
The US Mint has publicly stated that they are aware of only about 40 1943 copper-allow pennies in existence. As the story goes, these forty were struck accidentally when the mints changed over to zinc-coated steel to preserve copper for the war effort.
Apparently, a few copper plates were left in the presses and there you have it. The mint explained in a 1999 press release that the pennies when they’ve turned up have always sold for top-dollar, “A 1943 copper cent was first offered for sale in 1958, bringing more than $40,000. A subsequent piece sold for $10,000 at an ANA convention in 1981. The highest amount paid for a 1943 copper cent was $82,500 in 1996.”
A Common Counterfeit Penny (Check Before You Get Excited)
According to The Mint, because of its very high value, the 1943 copper penny has been repeatedly counterfeited by coating steel pennies with copper and forging the date of 45′, 46′, or 48′ issued pennies.
The best way to test your possible six-figure penny is to use a magnet. Copper isn’t magnetic so it won’t stick, steel is so, therefore… But if you find one, seriously let us know so that we can do a follow-up with you. For nothing else, it’s worth it to give you a virtual high five.
