Can you identify this rare penny?
Coins are everywhere and sometimes their value exceeds their face value. According to the latest news, one penny is worth a lot of money!
According to Coin Trackers, New York Post, KHOU and Daily Mail UK, a 1943 Copper Wheat could fetch over $85,000! According to KHOU, which consulted with Royal Coin and Jewelry in Houston, the pennies were made of steel in 1943 and had a zinc coating to prevent corrosion.
All 1943 pennies were made of galvanized steel because copper was needed for World War II, according to Coin Week. Watch the following video.
Several copper blanks were inadvertently used to create the coins in 1943. These errors now command high prices, often in the five or six-figure range.
The approximate mint value of the 1943 Copper Wheat Cent is $85,000. According to Coin Tracker, they routinely sell for around $60,000, even in poor condition. According to Saul Teichman, an expert on US coin errors, collectors place a high value on these coins, making them more expensive than other errors of the same era.
Although less common, other WWII coin errors don’t sell for as much because their appeal isn’t as strong.
The media is warning coin collectors to beware of counterfeit 1943 copper wheat pennies.
Because there is so much attention paid to these pennies, there are a lot of fakes on the market. According to Coin Trackers, some fraudsters try to make a 1948 cent look like a 1943 cent by putting a figure of eight on it. To make the steel penny look authentic, some coat it with copper. Coin Tracker recommends using a magnet to check for counterfeits.
“A copper-plated steel penny will stick to a magnet, but a real copper penny won’t,” reports Daily Mail UK. Check your collection; you can have a penny for a lot of money! Tell your family and friends about it.
In short, the discovery of the rare copper wheat in 1943 highlights the fascinating world of coin collecting and the potential value hidden in everyday objects.
Accidentally produced using copper at a time when steel was the standard, this unique penny has become a sought-after treasure among collectors, often fetching prices well in excess of its face value. With estimates suggesting a value of around $85,000 for minted coins, it’s no wonder enthusiasts are eager to find this particular piece of history.
However, collectors must be careful when looking for these rare pennies. The market is full of counterfeit coins that can mislead unsuspecting buyers. As noted, the use of a simple magnet can help distinguish genuine copper pennies from fraudulent steel pennies, ensuring that collectors can make informed purchases.
For anyone who enjoys collecting coins or simply wants to check their change, these pennies are worth taking the time to thoroughly examine.
You never know what hidden treasures may be waiting in your pockets or piggy banks. So spread the word, encourage friends and family to view your coins, and enjoy the thrill of potentially uncovering a valuable piece of history.