It’s hard to believe, but that unassuming penny sitting in your pocket or change jar could be worth more than a high-end sports car. Coin collectors and numismatists are especially excited about the elusive 1943 Lincoln Wheat Penny — a specific version so rare that one has reportedly sold for nearly $950,000.
This coin wasn’t supposed to exist in copper, making it one of the most fascinating mistakes in U.S. minting history and a highly prized collectible.
The History Behind the Rarity
During World War II, the U.S. Mint changed the composition of the penny to conserve copper for the war effort. In 1943, pennies were produced using zinc-coated steel rather than the usual copper.
However, a few copper blanks from 1942 accidentally remained in the mint’s machinery and were used to create a small number of 1943 Lincoln Wheat Pennies in copper. This unintentional batch has become one of the rarest and most desirable coins for collectors.
How Much Is a 1943 Copper Penny Worth?
The market value for an authentic 1943 copper Lincoln Wheat Penny can range widely depending on condition and mint origin. Coins that have been well-preserved — especially those in uncirculated condition — have fetched between $250,000 and $950,000 at auctions.
The highest premiums are typically seen for coins stamped with the Denver (D) mint mark, followed by those from San Francisco (S) and then the Philadelphia mint, which shows no mint mark at all.
Key Features to Identify the $950,000 Penny
If you’ve got a 1943 penny and are wondering if it’s the rare copper version, here are the key characteristics to look for:
| Feature | Description |
|---|---|
| Year | 1943 |
| Material (Rare Version) | 95% Copper, 5% Tin and Zinc |
| Color | Reddish-brown hue (not silver or gray like steel) |
| Weight | Approximately 3.11 grams (heavier than the steel version, which is about 2.7 grams) |
| Magnet Test | Should not stick to a magnet |
| Mint Marks | D (Denver), S (San Francisco), or none (Philadelphia) |
| Estimated Value | $250,000 to over $950,000 |
If your penny passes the magnet test, shows the correct weight, and matches the color, you might be holding a collector’s jackpot.
Common Mistakes to Avoid
- Don’t Confuse It with Steel Pennies: The majority of 1943 pennies were minted in steel and have a silver-like appearance. These are common and usually worth less than a dollar unless in pristine condition.
- Watch Out for Counterfeits: Many fakes exist, with altered dates or coated finishes. Professional authentication is crucial before any sale or purchase.
- Test Your Coins Carefully: Using a digital scale and a magnet can help you eliminate ordinary steel pennies quickly. If your coin meets the copper criteria, consult a specialist.
The 1943 Lincoln Wheat Penny made from copper is among the most legendary coins in American numismatic history. If you happen to find one, it could turn out to be a life-changing discovery.
FAQs
How do I know if my 1943 penny is the rare copper version?
Look for a reddish-brown tone rather than silver. If it doesn’t stick to a magnet and weighs around 3.11 grams, you might have a valuable find.
Why were copper pennies accidentally made in 1943?
When the Mint transitioned to steel pennies for wartime copper conservation, leftover copper planchets from the previous year were mistakenly used, resulting in a handful of rare 1943 copper coins.
Where can I sell a rare 1943 copper penny?
You can sell these highly valuable coins through trusted coin dealers, reputable auction houses, or certified numismatists who can authenticate and help you get top dollar.