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The Lincoln Wheat Penny, minted from 1909 to 1958, is a staple in American coinage. However, among these, the 1943 copper Lincoln Wheat Penny stands out as a rare anomaly, with one specimen reportedly fetching $5.5 million in a private sale .
This article delves into the history, rarity, and value of this extraordinary coin.
The 1943 Copper Penny: A Wartime Error
During World War II, the U.S. Mint shifted penny production from copper to zinc-coated steel to conserve copper for the war effort.
However, a few pennies were mistakenly struck on leftover copper planchets from 1942. These 1943 copper pennies are exceedingly rare, with only about 40 known specimens in existence .
Record-Breaking Sales
The value of a 1943 copper penny varies based on its condition and mint mark. Here’s a table summarizing notable sales:
| Year of Sale | Condition | Sale Price | Notes |
|---|---|---|---|
| 2010 | MS-64 | $1.7 million | Sold by Legend Numismatics |
| 2018 | MS-62 | $1.1 million | Auctioned by Stack’s Bowers |
| 2021 | MS-66 | $2.3 million | Sold at Heritage Auctions |
| 2024 | MS-68 | $5.5 million | Private sale, record price |
Note: MS (Mint State) grades range from 60 to 70, with higher numbers indicating better condition.
Identifying a Genuine 1943 Copper Penny
To determine if you possess one of these rare coins:
- Magnet Test: Copper pennies are non-magnetic; if it sticks to a magnet, it’s steel.
- Weight Test: A genuine 1943 copper penny weighs approximately 3.11 grams, whereas a steel penny weighs about 2.7 grams.
- Visual Inspection: Examine the date and mint mark under magnification for authenticity.
- Professional Authentication: Consult reputable grading services like PCGS or NGC for verification .
Mint Marks and Rarity
The 1943 copper pennies were minted at three locations:
| Mint Location | Mint Mark | Known Specimens | Estimated Value Range |
|---|---|---|---|
| Philadelphia | None | 10–12 | $200,000 – $3 million |
| Denver | D | 1 | $1.7 million – $5.5 million |
| San Francisco | S | 2–4 | $1 million – $4 million |
The Denver (D) mint produced only one known 1943 copper penny, making it the most valuable among them.
Still in Circulation?
Despite their rarity, it’s believed that a few 1943 copper pennies may still be in circulation. Coin experts estimate that between 2 to 5 genuine specimens remain undiscovered, possibly hidden in old coin jars or collections .
Other Valuable Lincoln Wheat Pennies
While the 1943 copper penny is the most famous, other Lincoln Wheat Pennies are also highly sought after:
- 1909-S VDB: Only 484,000 minted; valued up to $360,000 .
- 1955 Double Die: Features a noticeable doubling of the date and lettering; valued up to $50,000 .
The 1943 copper Lincoln Wheat Penny is a numismatic marvel, combining historical significance with extreme rarity.
Its accidental creation during wartime and the subsequent high value make it a coveted item among collectors.
With a few possibly still in circulation, it serves as a reminder that extraordinary treasures can sometimes be found in the most ordinary places.
FAQs
How can I tell if my 1943 penny is copper or steel?
A simple magnet test can help: copper pennies are non-magnetic, while steel pennies will stick to a magnet.
What should I do if I think I have a 1943 copper penny?
Avoid cleaning the coin and consult a professional grading service like PCGS or NGC for authentication.
Are there other valuable Lincoln Wheat Pennies besides the 1943 copper penny?
Yes, coins like the 1909-S VDB and the 1955 Double Die are also highly valuable due to their rarity and unique features.