When you think of a penny, you’re probably not impressed.
After all, what is one cent really worth these days?
But if it was made in 1943, it could be worth much more than that.
A mint-condition 1943 copper wheat penny could earn you more than $85,000!
Here’s what you need to know.
In 1943, manufacturers temporarily stopped using copper to make pennies.
That year, pennies were made of steel and zinc-plated to prevent rust.
Coin Week explains:
“Because copper was needed for purposes relating to World War II, all 1943 cents were planned to be struck on zinc-coated steel planchets.”
The 1943 “steel pennies” (as they were called) weren’t very popular upon release.
Modern coin collectors consider them a bit of a novelty.
More than a billion of these new steel pennies were manufactured, so they’re not particularly valuable or rare.
Generally, they go from anywhere between 10 cents to three dollars.
However, while these run-of-the-mill 1943 steel pennies were being minted, something happened to a few of them.
Somehow, 30-40 pennies were struck with the previous year’s bronze planchets — and those ‘mistake pennies’ are now worth big bucks.
The error is thought to have happened because the previous year’s planchets were left in the hopper while the coins were being made.
These 1943 bronze pennies are known as one of the most popular coin-minting mistakes in US history.
At some point during the decade, it was even rumored that if someone could find one of these 1943 steel pennies, Henry Ford would personally gift them a new car.
The rumors persisted even after the car company denied the claims.
One of these 1943 bronze pennies can now sell for $100,000.
In fact, CoinWeek calls it “the most expensive penny in the realm of coin collecting.”
Saul Teichman, an expert in U.S. Mint errors explains that collectors also seem to drive up the value of the coin, explaining:
“1943 copper cents have a special cachet with collectors. As for market value, the 1943 cents sell for much more than other errors struck around the same time. “
“Many other World War II errors are rarer than 1943 copper or 1944 steel cents but bring a fraction of a price as they lack that special cachet.”
According to media sources, coin collectors must also be cautious of 1943 copper penny dupes.
Now that these pennies have been getting a lot of attention, the market is rife with counterfeit copies.
Coin Trackers said that many fraudsters will file down the left side of the number 8 on a 1948 copper penny to make it look like a genuine from 1943.
Others will take a regular steel penny and coat it with a copper covering in order to make it appear like the real deal.
If you’re concerned about a counterfeit, Coin Trackers advises using a magnet to test the coin.
As Daily Mail UK explains:
“A solid copper penny will not stick to a magnet, while a steel penny with copper plating will.”
So, what are you waiting for?
Check your change jars, people! You might just have a fortune!
Learn more about the valuable 1943 penny in the video below!
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