What Is the Value of a 1943 Copper Penny?
What Is the Value of a 1943 Copper Penny?
Complete guide to America's most famous error coin - the extremely rare 1943 copper penny worth up to $1.7 million
Introduction
There are few coins as popular as the 1943 copper penny, an extremely rare mint error that is worth a lot of money. The 1943 bronze Lincoln cent first came to light in the mid-1940s and quickly took the numismatic world by storm.
During this time, the United States Mint was striking pennies from zinc-coated steel planchets. This was to help save copper for World War II ammunition shells. However, a small number of bronze planchets left over from the 1942 production remained in the mint presses. As a result, they were accidentally struck with 1943-dated dies.
The Incredible Rarity
The result? A total of perhaps 20 to 30 of these 1943 copper cents were minted cumulatively at the Philadelphia, Denver, and San Francisco Mints. Always worth big money, this error has commanded prices as high as seven figures.
Understanding how to identify, authenticate, and value these legendary error coins is crucial for collectors and anyone who suspects they might own one of America's most valuable pennies.
Table of Contents
Identifying A 1943 Bronze Cent
One of the most common questions people ask is, "do I have a 1943 copper penny?" One of the points of confusion is behind "which" 1943 penny is rare. Many people hear that there is a rare 1943 penny out there and therefore assume all 1943 pennies are valuable.
The Rare One: 1943 Copper
- Bronze composition (same as regular pennies)
- Estimated 20-30 examples exist
- Worth $100,000 to $1.7 million
- Created by mint error during wartime
The Common One: 1943 Steel
- Zinc-coated steel composition
- Over 1 billion made
- Worth 10 cents to $1
- Silvery appearance due to steel
Common Confusion
Others still confuse the 1943 steel penny as the rare coin because of its unusual appearance as a silvery-colored Lincoln cent. The steel cents are quite common—more than 1 billion were made across the Philadelphia, Denver, and San Francisco Mints. But it's the copper 1943 cent that's rare.
Testing Methods: Magnet, Weight, Design
Here's how you can tell the difference between the common 1943 steel cent (typically worth 10 cents to $1) versus the 1943 bronze cent:
The Magnet Test
Does your 1943 penny stick to a magnet? – If it does, it's a common 1943 cent. If it doesn't, there's a chance it may be the rare copper penny, but it still must be tested for authenticity.
The Weight Test
What does your 1943 cent weigh? – A common 1943 steel cent weighs 2.7 grams, while the rare bronze one would click in at approximately 3.1 grams. You must use a scale that measures down to at least a tenth-of-a-gram increments.
The Design Test
What about the "3"? – Your 1943 copper penny absolutely must look exactly like a 1943 steel cent in terms of design and the shaping of the letters and numbers. One of the most common diagnostics is the font of the "3" in the date—it must exactly match the "3" on a 1943 steel cent.
Critical Testing Requirements
For a suspected 1943 copper cent to pass initial testing, it must meet ALL of these criteria:
- Non-magnetic: Does NOT stick to a magnet
- Correct weight: Approximately 3.1 grams (not 2.7g)
- Unaltered design: Font and styling exactly match authentic 1943 steel cents
- Proper composition: Bronze color without plating or artificial coloring
Notice all the "ands," not "ors" here—every single test must be passed!
What to Do If You Think You Have One
Celebrate a little—but don't spend all your money quite yet. You still need to make sure the coin is authentic! Even if the coin you believe to be a 1943 copper cent checks out with your own tests, you should consider having it authenticated by a reputable third-party grading service.
Reality Check
The 1943 bronze cent isn't the kind of coin you'll be able to 100% authenticate on your own. And if you expect to walk it into your nearest coin shop only to dance out the door five minutes later with a stash of cold, hard cash in your hands, then you're unfortunately bound to be a bit disappointed.
Why Professional Authentication is Essential
Even if you are sure you have the 100% real McCoy in your hands, there are too many fakes out there for anyone to buy a 1943 bronze cent without having complete certainty that it's authentic.
- Daily inquiries: Coin dealers receive 1-2 calls daily about "the" 1943 cent
- Common fakes: 1943 steel cents plated in copper
- Altered coins: 1945, 1948, or 1949 Lincoln cents retooled to appear as 1943
- Sophisticated counterfeits: Even old collections contain convincing fakes
Professional Path Forward
If you think you have a 1943 bronze cent—and everything checks out so far—bring it to a reputable coin dealer for an in-hand inspection. They can assist you in getting it graded by a third-party coin grading company. Once certified as authentic and graded, that dealer may be interested in buying the coin from you. You could also consider consigning the authenticated coin with an auction company.
Many old-time coin collections are found to have counterfeit coins that are sophisticated in appearance. These coins could easily sneak past even many of the more advanced collectors. Counterfeits, altered coins, and other fakes are among our hobbies' most significant problems and have been for a long time. This is partly why third-party coin grading services emerged in the 1980s.
How Much Is A 1943 Copper Cent Worth
It's quite literally the million-dollar question! The all-time record price for a 1943 bronze cent is $1.7 million. This price was paid for the only known example of a 1943-D copper penny graded MS64BN by Professional Coin Grading Service.
Price Evolution Over Time
Prices have gone way up for the 1943 copper penny over the years:
- 1981: Made national news selling for $10,000
- 1996: Another example sold for $82,500 at auction
- Today: 1943 bronze cents typically fetch $100,000 to $250,000
- Record: 1943-D copper penny reached $1.7 million
Value Factors
- Mint location: Denver (D) examples are rarest
- Condition grade: Higher grades command premium prices
- Authentication: Must be certified by PCGS or NGC
- Provenance: Documentation and history add value
Market Considerations
- Auction results: Public sales establish market prices
- Rarity premium: Extreme scarcity drives values higher
- Collector demand: Strong interest from advanced collectors
- Investment potential: Long-term appreciation track record
Common Counterfeits and Fakes
Almost every day, your typical coin dealer receives at least one or two calls from an excited individual who has "the" 1943 cent. What happens virtually every time is the coin winds up being a fake.
Plated Steel Cents
The most common fake: 1943 steel cents plated in copper. These fail the magnet test initially but show plating under close examination.
Altered Date Coins
Genuine copper cents from 1945, 1948, or 1949 with dates retooled to appear as 1943. The "3" styling gives these away.
Rusty Steel Cents
Corroded 1943 steel cents that develop rust and "look like" copper to inexperienced eyes.
Sophisticated Fakes
High-quality counterfeits that can fool even experienced collectors without professional authentication equipment.
Trust But Verify
Even if you have a 1943 bronze cent passed down in your family from somebody who was a diehard collector, that doesn't necessarily mean that coin is authentic. Many old-time coin collections contain sophisticated counterfeits that could easily fool collectors for decades.
Investment and Collecting Perspective
The 1943 copper penny represents the pinnacle of American error coin collecting, combining extreme rarity with fascinating historical context and million-dollar values. For serious collectors and investors, understanding this coin provides insights into the broader rare coin market.
Market Dynamics
- Liquid Market: High-end auction houses actively handle these coins
- Price Appreciation: Consistent gains from $10,000 (1981) to $1.7 million (recent)
- Museum Interest: Institutional collectors compete with private buyers
- Media Attention: Regular news coverage maintains public awareness
For Beginning Collectors
While 1943 copper cents are beyond most budgets, collectors can appreciate the story and perhaps focus on other affordable collectible coins with similar historical significance.
For Advanced Collectors
These coins represent the ultimate numismatic trophy. Only pursue with proper authentication, adequate insurance, and secure storage arrangements.
For Precious Metals Investors
While these coins have minimal metal value, they demonstrate how rarity and collector demand can create extraordinary premiums above material worth.
Educational Value
Study of 1943 copper cents teaches important lessons about authentication, grading, market dynamics, and the importance of professional certification in high-value numismatics.
Collector's Reality
While the dream of finding a 1943 copper penny in pocket change captures imaginations, the reality is that genuine examples are extraordinarily rare and valuable. Focus on building collections of coins within your budget while appreciating the legendary status of America's most famous error coin.