1943 Steel Penny Value
Standard steel pennies, the legendary copper error, and how to tell the difference.
In 1943, the US Mint replaced copper with zinc-coated steel to produce Lincoln cents. The result was a silver-colored penny that sticks to a magnet. Over a billion were made across all three mints. They're common, but they're also the most frequently asked-about American coin because of the legendary 1943 copper error.
Standard 1943 Steel Penny Values
Most 1943 steel pennies are worth less than a dollar. They were produced in massive quantities and many have survived. The zinc coating corrodes over time, leaving dark spots or a rough surface. Clean, bright examples in uncirculated condition are the most desirable.
The 1943 Copper Penny: Worth Over $100,000
During the transition from copper to steel in 1943, a small number of pennies were accidentally struck on leftover copper planchets from 1942. These are among the most valuable US coins.
Approximately 20 to 40 are confirmed to exist across all three mints. Authenticated examples have sold for:
- 1943 copper (Philadelphia): $100,000 to $250,000+
- 1943-D copper (Denver): $200,000 to $800,000+
- 1943-S copper (San Francisco): $100,000 to $500,000+
The 1943-D copper cent holds the record, with one example selling at auction for over $840,000.
How to Tell if Your 1943 Penny Is Copper
Step 1: The magnet test. Hold a magnet to your coin. If it sticks, it's a standard steel penny. If it does NOT stick, proceed to step 2.
Step 2: Check the weight. A steel penny weighs 2.70 grams. A copper penny weighs 3.11 grams. If yours weighs 3.1 grams and doesn't stick to a magnet, you may have a copper error.
Step 3: Look at the color. A genuine 1943 copper penny has the distinctive brown/copper color of other Lincoln cents from that era. It does NOT look like a silver-colored steel penny that someone has plated.
Step 4: Get it authenticated. If your coin passes the first three tests, send it to PCGS or NGC for professional authentication. Do not clean it, polish it, or handle it excessively.
Common Fakes and Mistakes
Copper-plated steel pennies. The most common fake. Someone plates a steel penny with copper. The magnet test catches these instantly: a plated coin still sticks to a magnet because the core is steel.
Altered dates. Some people alter 1948 pennies to look like 1943 by reshaping the 8 into a 3. Look carefully at the 3. On a genuine 1943 coin, the 3 is consistent with the rest of the date's font.
1944 steel pennies. The error also went the other direction. A few 1944 pennies were struck on leftover steel planchets. These are real and valuable (circulated: $25,000–$100,000+). A 1944 penny that sticks to a magnet is potentially a major discovery.
Why Were Steel Pennies Made?
World War II created massive demand for copper to manufacture ammunition casings, shell casings, and communications wire. The War Production Board authorized the switch to zinc-coated steel for 1943 cents. In 1944, the Mint switched back to a copper alloy using recycled brass shell casings. The steel penny was a one-year experiment that created one of numismatics' most famous coins.
Get a Free Quote on Your 1943 Steel Pennies
Not sure what your coins are worth? US Gold and Coin evaluates 1943 steel pennies for free. No appointment needed. No obligation to sell.
Visit us in Dallas, Austin, Tampa, Fort Worth, Waco, Kansas City, Overland Park, Lawrence, or Honolulu. We also accept mail-in submissions with insured shipping.
Think You Might Have a 1943 Copper Penny?
Get a free, no-obligation appraisal from our expert team.