Lincoln Wheat Penny features minting from 1909 to 1958 and is among the most illustrious coins of U.S. history. Almost all pennies are common, but selected variants, such as the rare 1943 bronzed cent, have realized auction prices that are spectacular. In fact, one of them went for as much as $990,000, making it one of the costliest American coins ever found.
What about these pennies renders them so interesting? Let’s explore the intriguing tale, rarity, and underlying critical considerations that fuel their astounding cost.
Penny Bronze 1943:
In World War II, the mint in the U.S. produced a steel penny that had been coated in zinc instead of copper. That was for copper to be used into military supplies. However, because there were a few bronze planchets left out from the previous year, the mint mistakenly created some pennies with bronze planchets in 1943. As a result, this is one of the rarest and most valuable forms of error coins ever conceived.
Features:
- Features: Color: Unlike silver colored steel pennies, bronze pennies have a reddish-brown shade. Magnetism: Steel pennies are magnetic, but not bronze pennies.
- Weight: A true 1943 bronze penny weighs around 3.11 grams, while steel pennies weigh 2.7 grams. Because of their extreme rarity, these pennies are extremely sought after by numismatists.
Last year, a 1943 bronze penny was auctioned off for a staggering $990,000, proving its desirability in the numismatic world.
Condition And Value
Apart from scarcity, the condition of the coin is also pertinent in deciding on the coin’s market value. A scale of 1-70 grades the coins, with higher numbers indicating better preservation.
Grading Factors for Coins
- Luster: The natural glow and reflection from the body of the coin.
- Surface Marks: Scratches, nicks, and other imperfections can reduce value.
- Wear: Coins are more valuable if there is little wear, especially in high-relief areas.
Value increases with the mint state (MS65-70). To illustrate, a 1943 bronze penny graded MS64BN, or Mint State 64 and colored brown, fetched $212,750, demonstrating how even slight differences are significant concerning price.
| Factor | Description |
|---|---|
| Rarity | Coins with low mintage or unique errors are highly desirable. |
| Condition | Higher-grade coins command premium prices. |
| Historical Significance | Coins from important historical periods tend to be more valuable. |
| Demand | Collector interest drives up prices for specific coins. |
| Authenticity | Genuine, professionally certified coins are worth more than counterfeits. |
Authenticating a 1943 Bronze Penny
Unfortunately, the 1943 bronze penny is a high-value coin, and so, it is still often counterfeited. You will have to first get your coin certified by professional grading services like:
- Numismatic Guaranty Corporation (NGC)
- Professional Coin Grading Service (PCGS)
All these services authenticate, grade, and value the coin in the market, thus instilling the required degree of confidence to the buyer while providing a significantly higher resale potential to the coin.
The 1943 bronze Lincoln Wheat Penny stands tall among the numismatic rarities as an example of how condition and rarity can lead to some truly extraordinary valuations. If you think you have a penny worth a lot, you might want to get it certified-you could have a small fortune sitting right in your hands!
FAQS:
What is the value of a genuine 1943 bronze penny?
It Can be worth up to $990,000.
How can I tell if my 1943 penny is bronze?
The color, weight (3.11g), and absence of magnetism should be checked.
What makes the 1943 bronze penny so rare?
Very few pieces were struck erroneously from leftover bronze blanks.
Where can I get my 1943 penny authenticated?
Professional grading gets conducted by NGC and PCGS.
Can I sell a 1943 bronze penny online?
Yes, Auction houses and coin dealers will facilitate the selling.