1943 Copper Penny Value: The Rare One

There are some coins that many collectors worldwide would like to possess; they are ready to pay thousands or even millions of dollars for these specimens. Among the most sought-after examples is the 1943 copper penny, an anomaly from a year dominated by steel pennies. There are only 26 confirmed examples known to exist. Its rarity and historical significance make it a coin of legendary status. 

But exactly how much is a 1943 copper penny worth? And how to identify these coins and distinguish them from fakes? Today you will find out the answers. 

How This Coin Was Created

The 1943 copper penny emerged during one of the most important periods in modern history—World War II. In 1942, the United States government decided to conserve copper for the war effort, using it for essential military equipment such as ammunition casings and communications wiring. Consequently, the U.S. Mint was ordered to produce pennies from zinc-coated steel in 1943.

Despite this directive, a handful of copper planchets from 1942 accidentally remained in the minting presses at the Philadelphia, Denver, and San Francisco facilities. These leftover planchets were used to strike a small number of 1943 pennies. This unintentional blending of processes resulted in one of the rarest and most valuable coins in U.S. history.

The copper pennies were nearly indistinguishable from the standard pre-1943 pennies, which helped them go unnoticed during their initial release. However, rumors of their existence began circulating by the late 1940s. Some believed that industrialist Henry Ford offered a new car in exchange for a genuine 1943 copper penny, further fueling public interest. The Ford rumor proved false, but it became a reason for the mystique surrounding the coin.

The first authenticated discovery occurred in 1944 when a teenager found a copper penny in his change and realized it was an oddity. By the 1950s (before the 1981 quarter happened), professional numismatists confirmed the existence of the 1943 copper penny, and the coin quickly became one of the most sought-after pieces in numismatic circles. Today, only 26 examples are known to exist, spread across the three mints. 

The Design and Composition

The Obverse

The obverse of the 1943 Lincoln copper penny features Abraham Lincoln’s right-facing bust, designed by Victor D. Brenner. Above his head is the inscription “IN GOD WE TRUST,” symbolizing American unity. The word “LIBERTY” appears to the left, and the date "1943" is displayed prominently on the right.

The Reverse

The reverse design shows the coin’s face value, “ONE CENT,” flanked by two wheat stalks, earning it the nickname “Wheat Penny.” Above the denomination is the phrase “E PLURIBUS UNUM,” while “UNITED STATES OF AMERICA” adorns the bottom.

How Much Is a 1943 Copper Wheat Penny Worth?

The 1943 copper penny price varies based on mint mark, grade, and condition. Below is a detailed breakdown of each variety.

Philadelphia Mint (No Mint Mark)

The 1943 copper penny no mint mark is the most commonly discovered variety, with around 20 confirmed examples. It was minted in Philadelphia and holds incredible value due to its rarity and historical importance.

Disclaimer: Prices fluctuate based on market demand and auction results.

Denver Mint (D Mint Mark)

The 1943 D copper penny is the rarest of the three, with only one confirmed specimen. Its scarcity makes it one of the most valuable coins in U.S. history.

You may have heard about this very 1943 copper penny $1.7 million, as it is a rare and expensive one, and not every collector can afford having it. 

San Francisco Mint (S Mint Mark)

The 1943 S copper penny value is slightly below the Denver variety but remains a prized collector’s item. Five confirmed examples have been identified.

How to Tell if a 1943 Copper Penny Is Real

Given its immense value, counterfeits abound. For collectors and investors, it is rather important to understand whether they have a real 1943 copper penny or a fake one. Here are the key methods of authentication:

1. Magnet Test: Genuine 1943 copper pennies are non-magnetic. If a coin sticks to a magnet, it is made of steel and is not authentic.

2. Weight Test: The copper penny weighs 3.11 grams, whereas steel pennies weigh 2.7 grams.

3. Date Examination: The number “3” in “1943” should match the font style of authentic coins and show no signs of tampering.

4. Professional Grading: Send the coin to trusted organizations like PCGS or NGC for verification and grading.

The Coin ID Scanner app is an excellent tool for preliminary identification that allows users to compare their coins against verified examples. You only need to take a picture of your coin, and it will tell you everything about it, including the 1943 copper wheat penny value. But you can also get any other information about different coins, including the 1964 Kennedy half dollar value. 

Notable Sales and Market Trends

The 1943 copper penny has set records in the numismatic world. In 2010, a 1944 copper penny $1.7 million sale drew attention to the series. Another example, a 1943 copper penny for sale at Heritage Auctions, fetched $329,000 in 2014. These prices underscore the high demand and limited supply of these extraordinary coins. 

But these are not the only examples. You may have one, too, but you need to understand the type and even errors. 

Common Errors and Variations

Die Crack Error

A well-known error is the 1943 copper penny die crack at the bottom of the obverse. This flaw creates a distinctive “cud” on Lincoln’s coat. This mistake influences the value of the coin and increases it.

Altered Dates

Counterfeiters often manipulate dates on genuine copper coins from other years. Look for signs of tampering around the “3” in 1943.

Frequently Asked Questions

What is a 1943 copper penny worth? 

A genuine one can be worth between $175,000 and $1.75 million. It depends on its mint mark and condition. The final price is often determined by the coin’s grade, auction demand, and provenance. Coins in higher grades with excellent preservation command the most value.

How much is a 1944 copper wheat penny worth? 

The 1944 copper penny $1.7 million sale is a record-breaking example, but typical values range from $75,000 to $500,000. Coins with no mint mark generally fall on the higher end of the spectrum (you may check it out with the 1944 copper wheat penny value no mint mark request).

How many 1943 copper pennies are believed to exist today?

It is estimated that only 12 to 20 genuine 1943 copper pennies exist. These rare coins were mistakenly struck on leftover copper blanks (planchets) intended for 1942 production, instead of the steel planchets used for most 1943 pennies. Their rarity is due to the strict control over raw materials during World War II. Some specimens have been discovered over the years, primarily by collectors and metal detector users, but the exact number of surviving coins remains uncertain. Because of their rarity, they are among the most sought-after coins in numismatics with high 1943 wheat penny copper value numbers.

What precautions should I take before selling a 1943 copper penny?

Ensure you take the following precautions:

1. Authenticate the Coin: Have it examined and certified by a professional grading service (e.g., PCGS or NGC). Buyers will require proof of authenticity.

2. Appraise the Coin's Value: Consult a professional appraiser or auction house to understand its market value based on its condition, provenance, and rarity.

3. Research Selling Platforms: Decide whether to sell through an auction, coin dealer, or online marketplace. Auctions often fetch higher prices for rare coins.

4. Beware of Scams: Avoid selling to unverified buyers or platforms that do not specialize in rare coins. Use reputable auction houses like Heritage Auctions or Stack’s Bowers.

5. Secure Insurance: If you are shipping the coin to a buyer or auction house, use insured and trackable shipping to safeguard against loss or damage.

6. Tax Implications: Rare coin sales may have tax consequences depending on your location. Consult a financial advisor if necessary.

Who were the first people to discover the 1943 copper pennies?

The discovery of 1943 copper pennies dates back to the mid-1940s when teenagers searching through pocket change began to notice the unusual copper coins. 

The first well-documented find occurred in 1947, when a 16-year-old named Marvin Beyer from Pittsburgh identified a 1943 copper penny while sorting coins. 

Soon after, more discoveries followed, and the coins gained widespread attention in the numismatic area. One of the most famous specimens was later purchased by a coin collector named Don Lutes Jr., who found the penny in his change from a school cafeteria in 1947. 

Sources:

1. https://coinweek.com/1943-copper-penny

2. https://www.usmint.gov/news/press-releases/19990308-special-1943-copper-penny?