The 1943 silver penny was made of steel due to copper being needed for the war effort. They are relatively common as collector’s items, but rare in circulation. The steel tarnished quickly and they were easily mistaken for dimes. Production was halted after one year, but a few 1944 silver pennies were also made. The 1943 copper penny is rare and valuable, with only a dozen ever located. Fake examples have been made by plating steel pennies with copper.
A silver penny is a type of one-cent coin that was minted in the United States in 1943. Silver pennies were not actually made of silver, but steel that had been plated with zinc. For a collector’s item, these coins are relatively common and easily found in coin shops, although it is rare to accidentally find a silver penny still in circulation.
The 1943 silver penny was struck in steel instead of the usual copper. This was due to the growing need to dedicate all available copper to the military during World War II. Military forces needed copper for use in munitions and other warfare applications, and the silver penny was just part of the plan to conserve copper for the war effort.
Despite the patriotic motivation for this change, the results included some unforeseen problems. Steel tarnished even more quickly than copper, due to its high iron content. Rust also formed on the edges of the coin, rapidly deteriorating them. Perhaps the most vexing problem was that the new silver pennies could easily be mistaken for dimes when giving or receiving change for a purchase, due to their color and lighter weight compared to copper pennies.
The public outcry that resulted from these problems led the United States Mint to halt production of the silver penny after only one year, although a few 1944 silver pennies were also made before the completion of production. transition. Large numbers of the 1943 coins were collected by the mints and destroyed, meaning those that have survived are somewhat collectible. A 1943 silver penny that is in circulating condition is worth about $0.12 to $0.15 United States Dollars (USD), while one in new, uncirculated condition is worth about $0.50 USD.
The few 1944 silver pennies that were made are sometimes considered to be minted in error, and in any case, they are much rarer than the 1943 variety, and can fetch a significantly higher price. Due to another similar error, some of the coins made in 1943 were struck in copper instead of steel. Like the 1944 silver penny, the 1943 copper penny is quite rare, with fewer than 50 made and only a dozen ever located. One of these coins, still in new condition, sold at auction for over $200,000 USD in 2004.
In light of such prices, many fake examples have been made by plating 1943 steel pennies with copper. This was also sometimes done to produce novelty items, rather than an attempt at fraud. Either way, the best method of distinguishing a copper penny from a copper-plated steel penny is easy; steel is attracted to a magnet, while copper is not.
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