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If you always kept your extra coins in a jar and never touched it for decades, you might have one of the most sought-after coins. Some money, especially old money, holds a significant amount of value. For example, a Lincoln Wheat penny sold for $840,000 through Heritage Auctions in 2021.
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Here’s what makes some of these 1943 pennies so valuable and how to tell if you have one.
Why is the 1943 Copper Penny so valuable?
During World War II, copper was needed for ammunition and military equipment. To conserve the metal, the United States Mint switched penny production from copper to zinc-coated steel. However, a handful of old bronze planchets were stuck in the machine. That’s why a handful of 1943 coins were mistakenly made of bronze instead of steel.
Because they were never minted, collectors consider them the most valuable error coins in American history. It is believed that there are no more than 20 coins in circulation, making them rare coins.
How to tell if you have any valuable money from 1943
If you have some 1943 pennies, here are some tips to help you identify whether they are valuable coins:
- Check Color: Most 1943 pennies are silver-gray steel. Brown or copper colored money can mean something.
- Use a magnet to test: Steel coins stick to the magnet due to their iron content, whereas bronze coins do not stick to the magnet. If your 1943 penny doesn’t stick to a magnet, you may have something valuable.
- View Date: There are now many counterfeit 1943 pennies. Authentic 1943 pennies have a distinctive long tail on the number 3. Many counterfeit pennies use altered dates, such as changing from 1948 to 1943.
- weight: A genuine 1943 bronze penny weighs approximately 3.11 grams, while a steel penny weighs approximately 2.7 grams. Use an accurate scale to measure weight.
- Get it verified: Before assuming that you have found a valuable penny, submit it to a professional grading service to confirm whether it is real or fake.