The 1943 steel pennies have value as numismatic coins. Keep reading to learn more about these one cent coins.
In 1943 the US was fighting in WWII and a copper shortage led them to issue steel pennies. These pennies are made of steel and coated in zinc. They have the same design as the other wheat pennies.
Specifications
Type: Wheat Penny
Year: 1943
Face Value: $0.01
Composition: 99% steel with a thin zinc coating
Total Weight: 2.70 grams
The US minted the 1943 steel penny with no mint mark and also the 1943 D steel penny and 1943 S steel penny. The mint mark, when present, can be found on the obverse side of the coin below the date.
| Series | Location | Quantity Minted |
|---|---|---|
| 1943 | Philadelphia | 684,628,670 |
| 1943 D | Denver | 217,660,000 |
| 1943 S | San Francisco | 191,550,000 |
Value
Despite their unique appearance, the majority of these coins aren't valuable. This is because many of them were minted.
The 1943 steel penny with no mint mark is worth around $0.30 in fine condition. In very fine condition the value is around $0.35. In extremely fine condition the value is around $0.50. In uncirculated condition the price is around $2.50 for coins with an MS 63 grade. Uncirculated coins with a grade of MS 65 can sell for around $8.
The 1943 D steel penny is worth around $0.35 in fine condition. In very fine condition the value is around $0.40. In extremely fine condition the value is around $0.50. In uncirculated condition the price is around $3 for coins with an MS 63 grade. Uncirculated coins with a grade of MS 65 can sell for around $10.
The 1943 S steel penny is worth around $0.40 in fine condition. In very fine condition the value is around $0.65. In extremely fine condition the value is around $0.75. In uncirculated condition the price is around $6 for coins with an MS 63 grade. Uncirculated coins with a grade of MS 65 can sell for around $20.
Boldly Doubled Mint Mark Variety
There is a notable error variety for the 1943 D steel penny series. One these error coins the mint mark is minted twice onto the coin. This mint mark has a bold appearance.
The 1943 D steel penny with the boldly doubled mint mark is worth around $40 in fine condition. In very fine condition the value is around $50. In extremely fine condition the value is around $60. In uncirculated condition the price is around $100 for coins with an MS 63 grade. Uncirculated coins with a grade of MS 65 can sell for around $1,000.
Copper or Silver Error Coins
A few pennies minted on copper or silver planchets are known to exist. These error pennies can sell for hundreds of thousands of dollars. Because of how valuable they are, fake 1943 copper coins exist. These fake copper coins are regular steel cents that were coated over with a thin copper layer. The magnet test can be used to easily tell a fake from an original. If a 1943 copper penny sticks to a magnet then it's not an authentic error coin.
Grading System
Fine- The lines in the wheat heads are worn but visible.
Very fine- Lincoln's jawbone and cheekbone are worn but still separated. The wheat heads are not worn.
Extremely fine- There is only slight wear on the coin. All of the details are sharp.
MS 60 uncirculated- There are no signs of wear. The coin has luster, but there may be a few stains, abrasions, or surface marks.
MS 63 choice uncirculated- In the major focal areas there are some blemishes or contact marks. The coin's luster might not be as prominent.
MS 65 gem uncirculated- There is strong luster and eye appeal. A few light contact marks may be present but they are barely noticeable.
Sources:
The Red Book
See also: