1944 Steel Penny Value 2022: Worth a Million Dollars

1944 Steel Penny Value - When we are talking about antique items, old coins are one of the antique items that many collectors are sought after because they are antique, each of them has differences, and is unique, therefore making old coin collections much more valuable than you think. 

Even pennies can be worth so much when the conditions shine, and lusters were right. 

To get you a better idea of the penny value, here, we are going to talk about the 1944 steel penny value and worth million dollars, why some of them might be worth your money, and even has better value than you think. 

If you want to be a coin hunter, then this is an article that you can’t miss out on.

Just like the 1976 penny value article we wrote earlier, we are going to discuss the valuable penny, the 1944 Steel penny. 

Since the 1944 Steel penny is considered one of the most elusive and incredibly valuable pennies, we are going to talk about its origins, history, how it is minted, why it is so much valuable, the worth of 1944 Steel penny, and some notable facts about this penny.

If you like, you could also check our other articles on precious gems and penny, and see other valuable pennies, like the most valuable Canadian penny you can find in the market. 

The 1944 Steel Wheat Penny Value 

Let’s talk about the 1944 Steel penny first shall we, how this coin was minted, its initial design, the initial face value of the steel penny, the compositions, and specifications. 

The 1944 Steel penny was minted in 1944, and it is a type of steel wheat penny. It is considered one of the most expensive types of penny that have ever been minted in existence. It is also considered an ultra-cost safe investment.

However, it is minted by accident, off-metal error pennies that are related to World War II. What makes them have so much value is the accidental creation of the penny, related to World War II. How this penny was minted?

The History And Origin Of The 1944 Steel Penny

World War II was a global war that started in 1939 and 1945, and United States was a big player in World War 2. 

During the war effort, the copper that was traditionally used to mint copper penny was shifted and was required in huge numbers for the war effort, creating military-related purposes, while the US battled in the Europe and Pacific against Axis power. 

The copper that was normally used as material for creating the Wheat penny, now shifted to using steel, creating the special type of penny called the 1944 Steel penny. 

Due to its one-time accidental, off-coin error, this coin is considered a rare type and therefore has one of the best values and worth compared with another more common copper type. 

Therefore, the 1944 penny worth a million dollars is one of the most expensive wheat pennies, and exquisite in the old coins class. 

Many experts claim, that now at least there are only two dozen pieces of the 1944 steel penny that are still out there, and therefore it is extremely rare. 

1944 Steel Penny Value

How it was made in the first place? First, let’s take a look at the steel penny composition:
Year minted: 1944
Mint Mark Penny: No mintmark
Type of penny: Steel Wheat Penny
Initial face value: $0.01 
Edge: Smooth edge
Silver Composition: 0%
Produced: Only a few dozens of minted in existence
One thing to note is that the 1944 steel penny is considered one of the most expensive in existence. The average value, and price for one original, and authentic 1944 steel penny is most likely $70.000 to $110.000

The reason why the steel penny obtains so much value and is valuable is mostly because of the rarities, and scarcity of this type of coin, hence it is rarer than a gemstone, and even more precious too.

What Does The 1944 Penny Look Like?

The initial design and mintage mark of the 1944 penny looks exactly like the other Lincoln head Wheat ear penny, with the bust of Lincoln on the observe side and a pair of the wheatear on the reserve side. 

On the Lincoln side, we can see the inscriptions of “IN GOD WE TRUST”, along with the phrase “LIBERTY” and the year “1944”, and on the reserve side, is pair of the wheatear with the inscription “E PLURIBUS UNUM”.

So, what makes the 1944 steel penny value very high, and also rare? If you look closely at the real authentic 1944 steel penny, you can see that it’s different from other ordinary Lincoln pennies. 

The color itself isn’t copper but shines silver, and it looks much more closely like a dime. 

This creates the luster's beauty like you might never see and created a gorgeous color scheme, and unique and handsome rare coins, like the 1943 steel penny value we discussed earlier.

However, since it is silver in color, it doesn’t contain any silver composition; instead, it is composed of steel, alloy, and composition of zinc. The color representation is luster silver, beautiful shining white and silver, rare and different from any other copper penny. 

Keep in mind, that there is a lot of fake 1944 steel penny that have been sold and are in circulation. 

This fake 1944 penny looks just like the authentic 1944 steel penny, with its silver-white color, however upon closer inspection, you can see that it is just a copper penny that has been painted with zinc paint, hence it is a fake 1944 penny. 

So you need to be careful when purchasing the 1944 penny and check for its authenticity. Always check for the coin authenticity in the local coin grading service, and keep in touch with the trusted local coin dealer you can find. 

Always be skeptical, and careful when buying rare coins online, not just with this kind of coin, but also with other rare coins and gems. 

If you are planning to purchase a 1944 steel penny as your investment, we recommend you do firsthand research first and try to get to know better about the 1944 steel penny value and worth a million dollars. 

Research how much collectors paid for this kind of rare penny, and follow closely on the auction, especially when they have the 1944 steel penny in their collections. 

The 1944 Penny Worth Million Dollars

The 1944 steel penny is considered an elusive, very rare penny, and one of the higher-end classes of the old penny that can be worth more than a couple thousand dollars, or even reach a hundred thousand dollars for each specimen. 

How valuable it is? What is the worth of the steel penny, and why it is worth so much, even though it is just one penny? Now, we are going to discuss more the 1944 Steel penny value. 

What makes the 1944 Steel penny so valuable and has a very expensive price even though it is just a cent? Well, it is because the 1944 Steel penny is very rare. 

Just a few of the 1944 Steel pennies that have been minted ever in existence, due to them released by errors from the US mintage, then released into the coin supply and circulations. 

With the average circulation conditions, and grade (AC), each of the 1944 steel penny could be worth around $77.234 in the auction. 

Now, if the penny is in certified Mint state grade or (MS+) grade, this condition alone could bring up much value for the 1944 Steel penny, and one MS+ grade of the 1944 Steel penny could reach around $110.300 at the auction. 

However, this auction price doesn’t include and is not reference the standard coin grading scale in the United States alone, so one average circulated 1944 penny price that has similar conditions to another type of coin circulated in perfect conditions in 1944. 

This means, that MS+ certified grading is most likely needed to be graded by one of the top coin grading service companies.

The price for every coin is subject to change, and subject to standard supply and demand law by the United States government. 

It is also subject to change based on dealer premiums, market variations and variables, derivation in the market, and auction prices. 

Prices for each 1944 coin reflect on the past values it fetches, especially in online auctions, sales, estate sales, and also certified coin grading sold by dealers.

Even though we try to give the best, and most accurate representations of how much the 1944 steel penny value and is worth in today’s current market, 

It is impossible to determine the exact value of the 1944 steel penny, due to having many affecting variables, fluctuating market, and many other factors besides the appearance price, metal content, grading, and rarities that help determine the exact overall value of the coin.

If you want to know more about the exact current value of the 1944 steel penny, you can visit and ask the coin grading service, and old coin dealers for more information. 

We recommend you to go to a trusted site when dealing with such high antiques like the 1944 Steel penny, there is a lot of misinformation, and scams regarding valuable pennies you can find, and see where the most valuable wheat pennies are for more information.  

Keep it on note, that the price of the 1944 steel penny also depends on how much the coin is appreciated by the buyer. If you are trying to sell the 1944 steel penny, then it is recommended to sell and negotiate with the buyers, to find the best price. 

If you can’t find a trusted buyer or seller, you can always visit the coin dealer and auction that might want to sell or buy your coin collections. 

If you want to buy, or invest your money to get the 1944 steel penny, then you might need to think much about it, since the price of one 1944 steel penny is very expensive, and the price of buying, or finding the penny would be quite a hard nearly impossible task. 

To better decisions for your investment, here are a few notable facts about the 1944 penny, and how you should generally invest well in old coins collection.

Notable Facts, and Tips for The 1944 Steel Penny Value ( Worth Million Dollars )

Here are a few notable facts about the 1944 steel penny, how it was valued, better tips to understand the collections for old 1943 to 1944 steel penny, and generally how to invest better in old coins. 

These general tips would be helpful in your old coin collections, and if you want to know better about old coin selling and dealing, then these would help you.

Be Careful of Fake Pennies

There are only handfuls of 1944 steel pennies that have ever been minted in existence, hence their rarity, and price. 

Dozens of steel penny were minted in an accident in the first place, due to World War II and the change in penny copper materials. 

A lot of analysts suggest that when the mintage of 1944, steel plates have been used and tested, and then left mixed with all of the copper metal used in the minted, hence, creating the error 1944 steel penny. 

Since it has silver-whitish color, many penny rip-offs have been found, with the copper penny coated in zinc paint. Be careful about fake pennies, stay vigilant, and always try to find a trusted dealer or informant.

Research Thoroughly Before Investing

Investing your money in a rare, old, and expensive penny like an authentic 1944 steel penny is a big choice. As the 1944 steel penny value has been increasing, and therefore safe investment to make, you would need to understand the demand, supply, value, and information that need to be researched beforehand. 



Contact Dealer, Community, And Auction Before Deciding to Buy

If you want to start investing in an old coin like the 1944 steel penny, then you would need to contact with trusted dealer, the old coin collectors community, and the auction house. 

Always research first the 1944 steel penny value and worth before deciding to invest your money, since it is one of the rare, and most expensive pence, the value is increasing each day, and one of the safe expensive investments. 

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