Rare 1943 Penny: In the world of coin collecting, few things stir up as much excitement as a surprise seven-figure sale — and this week, the buzz is all about a rare 1943 Lincoln penny that just fetched a staggering $1.7 million at auction. A coin that was never meant to exist has become the crown jewel of one lucky collector’s treasure chest. Even more thrilling? You might have one of these elusive coins without even knowing it.
Here’s everything you need to know about the legendary 1943 copper penny, what makes it so valuable, and how you can check your own change for this multimillion-dollar mistake.
The $1.7 Million Mistake: Why the 1943 Copper Penny Is So Rare
In 1943, during World War II, the United States was facing a critical copper shortage. To conserve copper for ammunition and military equipment, the U.S. Mint shifted penny production from copper to zinc-coated steel. These so-called “steel pennies” were minted by the hundreds of millions — and they’re fairly common today.
However, a tiny number of copper planchets (coin blanks) from 1942 somehow remained in the coin presses. These blanks accidentally produced a handful of 1943 Lincoln pennies in copper instead of steel. Rare 1943 Penny
How Many 1943 Copper Pennies Exist? | Rare 1943 Penny
Estimates vary, but experts believe that fewer than 20 authentic 1943 copper pennies were ever produced — and far fewer are known to still exist. The exact number is uncertain because new examples occasionally surface in private collections or inheritances.
| Mint Location | Known 1943 Copper Pennies |
|---|---|
| Philadelphia (no mint mark) | 10–12 known |
| Denver (“D” mint mark) | 1 known |
| San Francisco (“S” mint mark) | 5–6 known |
Each verified specimen is thoroughly authenticated, often through testing at reputable grading agencies such as PCGS (Professional Coin Grading Service) or NGC (Numismatic Guaranty Corporation).
Who Bought the $1.7 Million Penny — and Why?
The record-breaking coin was auctioned by Legend Rare Coin Auctions, a prestigious firm known for dealing in high-value U.S. coins. The buyer? An anonymous private collector who placed a winning bid of $1.7 million for one of the few remaining Philadelphia-minted 1943 copper Lincoln pennies in pristine condition.
According to the auction house, the coin received a grade of MS64 (Mint State) — an exceptionally high condition for such a rare piece. “This is one of the cleanest, sharpest examples we’ve ever handled,” said a spokesperson from the auction house.
What Makes This Penny Worth $1.7 Million?
There are a few key factors that make the 1943 copper penny so valuable:
1. Rarity
With only a few examples known to exist, scarcity drives the price sky-high. Some collectors will pay any price to own a coin this rare.
2. Historical Mistake
The fact that these coins were minted accidentally makes them numismatic anomalies. They’re the product of a one-year fluke in the U.S. Mint’s otherwise orderly system.
3. Condition
Coins are graded on a 1–70 scale. The $1.7 million penny was graded MS64, indicating that it is in near-perfect, uncirculated condition. The better the condition, the higher the value.
4. Collector Demand
As awareness grows, so does demand. Wealthy private collectors are willing to spend millions for iconic coins like this one, especially as investment-grade assets.
How to Check If You Have One in Your Pocket
It might sound like a long shot, but people have discovered rare pennies in pocket change, in old coin jars, and in inherited coin collections.
Step-by-Step Guide to Checking Your 1943 Penny:
| Step | What to Do |
|---|---|
| 1. Check the Date | Look for a 1943 date on your Lincoln penny. |
| 2. Examine the Color | Copper pennies are reddish-brown. Steel pennies are silver-gray. |
| 3. Use a Magnet | Steel pennies stick to magnets. Copper ones don’t. |
| 4. Look for Mint Marks | Below the date, you may see a “D” (Denver) or “S” (San Francisco), or no mint mark (Philadelphia). All are potentially valuable in copper. |
| 5. Weigh the Coin | Use a jewelry or digital scale. Copper pennies weigh 3.11 grams, while steel pennies weigh 2.7 grams. |
| 6. Get It Authenticated | If your penny passes the tests above, have it authenticated by PCGS or NGC. This step is crucial. |
Important Note: There are fake 1943 copper pennies out there. Some are altered steel pennies or even fakes made from different materials. Authentication is essential before assuming any value.
Where to Sell a Rare Penny If You Think You Have One
If you think you’ve found a rare 1943 copper penny, here’s what to do:
- Don’t clean it. Cleaning can damage the coin’s surface and significantly reduce its value.
- Get it graded. Submit the coin to PCGS or NGC for a formal evaluation.
- Contact reputable dealers or auction houses. Firms like Heritage Auctions or Legend Rare Coin Auctions handle multi-million-dollar coin sales regularly.
- Avoid online scams. Don’t try to sell a rare coin on eBay or Craigslist unless it’s authenticated.
Other Valuable Lincoln Pennies to Watch For
While the 1943 copper penny is the holy grail, there are several other valuable Lincoln cents collectors actively seek.
| Coin | Approximate Value |
|---|---|
| 1909-S VDB Lincoln Cent | $800 – $12,000+ |
| 1914-D Lincoln Cent | $300 – $5,000+ |
| 1922 No D Lincoln Cent | $500 – $10,000+ |
| 1955 Double Die Lincoln Cent | $1,000 – $25,000+ |
| 1944 Steel Penny | $40,000 – $500,000+ |
Some of these, like the 1955 Double Die, are easier to spot with the naked eye — the doubling of the date and letters is clearly visible. Others, like the 1922 No D, require a trained eye.
How to Start Coin Collecting (Without Spending a Fortune)
You don’t need to be a millionaire to enjoy coin collecting. Many enthusiasts start by:
- Checking pocket change
- Sorting through inherited jars or bank rolls
- Attending local coin shows
- Joining online collector forums
- Buying affordable coins and learning the hobby
Even common pennies can be fun to study, and you might just stumble upon something extraordinary.
Expert Opinions on the 1943 Penny Craze
We spoke with David Hall, founder of PCGS, about the explosion in high-value coin sales.
“Coins like the 1943 copper penny are the perfect storm — rarity, condition, and history. They symbolize how something so small can have such massive value, especially in today’s collectibles market.”
And according to Lisa Longacre, a seasoned coin dealer in Ohio:
“Every few years, one of these surfaces, and it’s always national news. It keeps the hobby alive and reminds people that the next million-dollar coin could be sitting in a desk drawer.”
FAQs – Rare 1943 Penny
Q1: How can I tell if I have a 1943 copper penny or a steel one?
Use a magnet — steel will stick, copper won’t. Also, copper coins will look reddish-brown, unlike the silver-toned steel.
Q2: Can a worn or damaged 1943 copper penny still be valuable?
Yes. Even a damaged or circulated 1943 copper penny can sell for hundreds of thousands if authenticated.
Q3: What’s the best way to authenticate a rare penny?
Send it to a grading service like PCGS or NGC. They will evaluate and certify the coin’s authenticity and condition.
Q4: Is it legal to own and sell these rare coins?
Absolutely. As long as the coin isn’t stolen or counterfeit, it is perfectly legal to own, buy, and sell rare U.S. coins.
Q5: How can I avoid buying a fake?
Only purchase from reputable dealers or auctions, and always look for coins with third-party authentication.