The 1943 copper penny is one of the most coveted rarities in American numismatics. A unique 1943-D copper cent fetched an astounding $1.7 million at auction, underscoring its exceptional value.
Historical Context
During World War II, copper was essential for military equipment. To conserve this vital resource, the U.S. Mint shifted penny production in 1943 from the standard 95% copper composition to zinc-coated steel. However, a few pennies were mistakenly struck on leftover copper planchets, resulting in the rare 1943 copper cents.
Identifying a Genuine 1943 Copper Penny
Given the rarity and high value of these coins, numerous counterfeits exist. To determine authenticity:
- Weight Test: A genuine copper penny weighs approximately 3.11 grams, whereas a steel penny weighs about 2.7 grams.
- Magnet Test: Copper is non-magnetic. If the coin is attracted to a magnet, it’s likely a steel cent.
- Visual Inspection: Examine the date, especially the “3” in “1943.” Genuine copper pennies have a distinct long, curved tail on the “3.”
Notable Auctions and Values
The market value of a 1943 copper penny varies based on its condition and mint mark:
- 1943-D Copper Penny: The sole known example from the Denver Mint sold for $1.7 million in 2010.
- 1943-S Copper Penny: An example graded MS63 Brown by PCGS fetched $504,000 at auction.
- 1943 Copper Penny (Philadelphia Mint): These typically command between $100,000 and $250,000, depending on condition.
Comparison of 1943 Copper Penny Auction Sales
| Mint Mark | Auction Year | Grade | Sale Price |
|---|---|---|---|
| D | 2010 | MS64 | $1.7 million |
| S | 2019 | MS63 | $504,000 |
| None (Philadelphia) | 2014 | AU55 | $329,000 |
Steps to Take if You Suspect You Have a 1943 Copper Penny
- Preliminary Tests: Conduct the weight and magnet tests as outlined above.
- Professional Authentication: Submit the coin to reputable grading services like the Professional Coin Grading Service (PCGS) or Numismatic Guaranty Corporation (NGC) for verification.
- Consult Experts: Engage with experienced numismatists or coin dealers to assess the coin’s value and explore potential sale avenues.
Conclusion
The 1943 copper penny is a remarkable artifact from a pivotal era in U.S. history. Its accidental creation and extreme rarity make it a prized possession for collectors and a potential windfall for those fortunate enough to discover one.
FAQs
Why were 1943 pennies made of steel instead of copper?
During World War II, copper was reserved for military purposes, leading the U.S. Mint to produce pennies from zinc-coated steel in 1943.
How many 1943 copper pennies are known to exist?
Approximately 27 confirmed examples exist, including one from the Denver Mint, six from the San Francisco Mint, and the remainder from the Philadelphia Mint.
What makes the 1943-D copper penny unique?
It’s the only known copper penny from the Denver Mint, significantly enhancing its rarity and value.
Can a 1943 steel penny be valuable?
While common 1943 steel pennies hold nominal value, those in exceptional condition or with mint errors can be worth more.
How can I sell a genuine 1943 copper penny?
After authentication, consider selling through reputable auction houses or coin dealers specializing in rare coins.
