Get To Know The 1943 Steel Penny Information And Its Value

1943 Steel Penny - Currently, many collectors are collecting old pennies that deserve to be included in a collection. No wonder they are also curious about the 1943 steel penny value because it is one type of coin that is currently being targeted by many people.

Even though the nominal only reads one cent, that's all for the current price value, it is also not adjusted to the nominal. Because it can have a higher price when compared to the nominal.

Moreover, there are quite a lot of people who are after this type of penny, because 1943 is an example of an important year in the history of money and the second world war.

But of course, this can be realized by considering many things. At least you have to know interesting information about penny coins. As in our discussion this time because it will discuss the value of the 1943 steel penny.

1943 steel penny value

1943 Penny

Some raw materials such as copper and tin are some examples of important materials during the second world war for the production of weapons that need to be preserved. 

You should know that the composition of this penny consists of 4% zinc,95% copper, and 1% tin and it turns out that the composition must be changed.

The government gives a commission to seven companies to conduct experiments to replace penny composition with various types of metals. Various materials such as zinc, tempered glass, and white metal have also been used to conduct experiments.

So in the end, Mint decided to coat the steel with zinc to prevent corrosion or rusting of the steel. And no tin is used for new materials when they want to make money.

By making pennies from this material composition, it is estimated that it can save 100,000 pounds of tin per year. Because the defense industry at that time was in dire need of tin, so a stock of 40,000 tin was sent there.

1943 Steel Penny

Until finally based on the 1942 law, Public Law 815, was signed into law on December 18, 1945, to ratify the new coins called “steelies”.

The production of this 1943 coin starting in February 1943. At the end of the year, more than 1 billion minted. Today's production, the Philadelphia Mint produced 684,628,670 coins, in the Denver Mint produced 217,660,000, and 191,550,000 in San Francisco.

After becoming a new coin, the weight of the previous cent which was 3.11 grams is now lighter by using steel at a weight of 2.7 grams. This proves that reading has magnetic properties making it easier to find fake steel cents.

Approximately how much is a 1943 steel penny value? A good quality mint state of three cents of 1943 steel can be found for around $30, while the higher-value MS65 set is priced at $75.

But unfortunately, once the steel begins to be touched by the circulation, it makes the appearance of stains quite quickly.

Since then collectors in America began to stamp the coin as one of the legendary cents because it has a significant difference from the wheat penny. 

This is also related to the fact that reading material is indeed more difficult to work with when producing coins.

How to Identify a 1943 Steel Penny?

how much is a 1943 steel penny worth

Although many today collectors are looking for this type of coin. So for those who do not know the original form of the coin. That's why they needed some information that could be used to identify the correct 1943 steel penny.

There's no need to worry because identifying the 1943 steel penny is quite easy to do. On one side you will be able to see the head of President Abraham Lincoln and there is an inscription of 1943 to the right of the picture.

Then, on the other hand, you can see the grain design used on an old coin. Apart from having a unique silver color, there are also other features of the Identifier. This money has magnetic properties while for copper money it is not magnetic.

That's why you can try to attach a magnet to the money and be able to tell which coins are steel and which are copper coins.

1943 Steel Penny Value

1943 steel penny value

This time we will describe the information you are currently wanting to know, namely about the value of the coin. It can be seen that most of the 1943 coins currently in circulation are stained.

This makes the value is less than a dollar. But it’s still available a good mint penny. On MS60 they have a value of $7;$15, while for MS65, they have a value of $28.

On the high end, the MS67 coin commands $150 while the MS68 commands $2,250. Certainly higher than 12,000 cents 1943 steel Which has a grade of MS60 or higher, only 75 at MS68.

1943 d penny steel value turned out to be the same as 1943 (P). However, for 1943-S it is worth higher (The lowest creation of the trio). 

This is especially true for the two highest values. If you don't know the two highest values, the highest value is in the status with MS67 having a value of $240 and $4,250 for MS68.

The Rare 1943 Penny

You should know that if the 1943 cents you have are made of copper, then the value is very large because generally, it can reach $10,000 or more. The reason is quite simple, namely because that type of coin is a mistake coin.

The US Mint apparently used the wrong type of metal planchet when it hit the coin. Yet very few of them leave United States Mint facilities.

It is also known that this error coin was indeed unintentional. Because some of the leftover copper planchets that got stuck in the corner of the big trash can from the previous year were moved to the empty planchet around the mint.

So that when they are separated or dislodged, they are mixed with ordinary zinc-coated steel planchet processed through coining presses. However, it is unfortunate that there are currently so many fake 1943 copper cents in circulation.

1943 lincoln steel penny value

How Much Is a 1943 Steel Penny Worth?

Previously, we have described information on how to identify the 1943 coin. Previously, we have also read about the value of this penny. However, we will provide additional information on how much the 1943 steel penny is worth.

According to the USA Coin Book, a 1943 cent of steel in circulation turns out to be worth between 16 cents and 53 cents. But if the 1943 coin was still in pristine condition and not in circulation it would have fetched more than $1,000 according to the one sold by Heritage Auctions.

Grading a 1943 Steel Penny

If you want to find a coin like this and know how to value it based on its quality, try applying the grading guidelines that have been provided by Numismatic Guarantee Corporation:
  1. Poor: The coin rim is flat or damaged, making the details unclear
  2. Fair: some details of the coin are visible
  3. Good: The details are visible but not perfect
  4. Very Good: All details on the coin are visible and can be read by all
  5. Fine: The raised area on the coin looks very sharp and clear
  6. Very Fine: The points are almost perfect when viewed although there is some wear and tear at the higher design points.
  7. Mint Status: the coin is still in the same condition it was in when it was produced because it was kept after it was produced and not for circulation.

Sample Values for 1943 Steel Pennies

The way to determine how much 1943 steel penny value is to have it assessed by a qualified professional. To serve as an illustration, then you can compare sales of similar coins:
  • For a 1943 penny steel that is in very fine condition and with excellent detail and luster, it can sell for around $2,200.
  • Then for a penny of 1943 rainbow-colored steel From the San Francisco Mint if it is not in circulation it can be sold for around $270.
  • But if you have a penny of 1943 steel but it's rusted and in very bad condition it will only sell for about $3.

1943: Interesting Year for Penny

If you are a collector and are interested in rare pennies, you can use the 1943 steel wheat penny as an interesting example to be used as a collection.

These 1943 notes are even have more value compared to the steel counterparts because of the error among the most valuable cents. Moreover, it can be seen that 1943 was a very important year for money and offers various interesting views of history during wartime.

So by knowing some of the information above about the 1943 steel money, of course, you can find out how much the cents are worth. 

So it will be easier to be able to decide whether this type of rare penny deserves to be a collection or not. Because if you can find this type of penny in the best condition, it can be appreciated at a fairly expensive price. You can find out the 1943 steel penny value through the information above.