Affluent Savvy
Photo by Ksenia Chernaya Pexels Logo Photo: Ksenia Chernaya

How many 1943 steel pennies are left?

While there is no known mintage figure for the 1943-D/D Lincoln cent, it's estimated that perhaps 3,000 to 5,000 examples may exist across all grades. Otherwise, non-error steel cents are not in themselves rare. Their value lies in their novelty.

Is anxiety a chemical imbalance?
Is anxiety a chemical imbalance?

But researchers don't know exactly what causes anxiety disorders. They suspect a combination of factors plays a role: Chemical imbalance: Severe or...

Read More »
How do I know God has saved me?
How do I know God has saved me?

The Bible clearly teaches that the moment a person turns from his sin and trusts in Jesus to be forgiven of his sin, he is saved (Acts 2:37-41). He...

Read More »
Awaken your dormant DNA ability to attract wealth effortlessly
Awaken your dormant DNA ability to attract wealth effortlessly

The simple yet scientifically proven Wealth DNA method laid out in the report allows you to effortlessly start attracting the wealth and abundance you deserve.

Learn More »

Most steel pennies are worth between 20 cents and 20 dollars. Prices for 1943 penny error coins, like the 1943-D doubled mintmark variety, can reach several hundred dollars. There are few vintage coins as widely collected as the 1943 steel Lincoln penny. This applies within and even beyond the numismatic realm. This unusual-looking Lincoln Wheat cent is unlike any other United States one-cent coin.

Its zinc-coated steel composition makes this coin resemble a dime more than a typical U.S. penny. But why were these odd coins made, what are they worth, and how does a hobbyist go about collecting 1943 steel cents?

Ed. note: This article is periodically updated to reflect the current value of 1943 steel cents. Listen to this post about the 1943 steel penny or keep reading below:

History: Why the Lincoln Cent Was Made of Steel in 1943

The steel penny may seem like a random anomaly to some. Yet the coin has a vital connection to an international historical event. The 1943 steel cent was produced during the height of World War II. This global conflict saw the United States military's involvement from 1941 through 1945. During World War II, the Allied Forces needed many essential resources to help optimize success in the war. These materials, including copper and nickel, were used for producing ammunition and artillery. However, copper and nickel were also integral in making coins. Thus, alternative metals were considered for minting coins. These coins traditionally consisted mostly of copper and nickel. Therefore, the Lincoln cent and Jefferson nickel became prime targets for temporary but necessary metallic alterations. An act of Congress in 1942 approved a provisional 35% silver composition for the nickel. This paved the way for an emergency composition for the one-cent coin as well. A litany of tests and patterns followed for the emergency composition, including plastic and glass. The most cost-effective replacement metal for the Lincoln penny was determined to be a 99% steel planchet with a thin layer of zinc plating. These zinc-coated steel planchets represented an efficient and affordable way to make the 1943 pennies while rationing copper for the war effort. The diameter remained 19.05 mm and the portrait of Abraham Lincoln stayed the same. However, many in the public were less than thrilled with the alternative composition. The steel cents were often confused with the dime, causing some folks to lose 9 cents (or more) in a cash transaction. Others blasted the coins for their tendency to quickly rust once the outer zinc coating wore off the coin, exposing the steel core. The United States Mint eventually acquiesced to the concerns of the public. After just one year, in 1944 the US Mint resumed using a copper-based composition for the Lincoln cent. This was accomplished by using copper shell casings gathered from military training facilities. These so-called shell case cents, struck through 1946, consist of 95% copper and 5% zinc. This is somewhat different than the typical 95% copper, 5% tin and zinc composition generally used at the time for producing Wheat pennies.

What are the three importance of money?
What are the three importance of money?

Why Do We Need Money? Money can't buy happiness, but it can buy security and safety for you and your loved ones. Human beings need money to pay for...

Read More »
Have they found the Ark from the Bible?
Have they found the Ark from the Bible?

In 2020, the Institute for Creation Research acknowledged that, despite many expeditions, Noah's Ark had not been found and is unlikely to be...

Read More »
Awaken your dormant DNA ability to attract wealth effortlessly
Awaken your dormant DNA ability to attract wealth effortlessly

The simple yet scientifically proven Wealth DNA method laid out in the report allows you to effortlessly start attracting the wealth and abundance you deserve.

Learn More »

1943 Steel Cent Value

Most 1943 steel Lincoln pennies aren’t worth much above their face value (one cent). This may come as something of a surprise to the many who believe these coins are quite valuable. That common misperception likely stems from the popularity of the well-known 1943 bronze cents. This off-metal transitional error was accidentally struck when a few leftover 1942 copper planchets were fed through the presses at the Philadelphia, Denver, and San Francisco Mints. The 1943 copper penny is extremely rare and valuable. Only a couple dozen pieces were made and exist today, and each is worth about $100,000. While 1943 copper cents weigh about 3.11 grams and don’t stick to a magnet, the more common steel cents (which weigh 2.7 grams) adhere to a magnet. When it comes to evaluating 1943 Lincoln cents, the duo of a magnet and gram scale has broken many hearts and burst many bubbles over the years. The record price for a 1943 copper Lincoln penny is over $1.7 million at auction in 2010. The 1943 steel cents are quite common, and more than 1 billion were struck for circulation. Broken down by each mint, the individual mintages are as follows:

1943 Philadelphia Mint cents – 684,628,670

1943-D Denver Mint cents – 217,660,000

1943-S San Francisco cents – 191,550,000

Many 1943 steel cents ultimately corroded beyond recognition or were otherwise lost to time. However, there are still millions of collectible 1943 pennies out there. Hence, these are relatively common coins and are worth relatively little collector value in circulated grades. Most 1943 Lincoln pennies in worn grades (average condition) trade for around 10 cents to 25 cents apiece. Typical examples in uncirculated condition usually realize $1 to $5. Top-level specimens in grades of Mint State-67 or better can go for much more, sometimes hundreds or even thousands of dollars.

How Rare Is the 1943 Steel Penny?

There are also some significant varieties among the 1943 steel cents, including the 1943-D/D repunched mintmark. This widely collected variety is worth more than $100 in Extremely Fine-40 and upward of $400 in Mint State-63. While there is no known mintage figure for the 1943-D/D Lincoln cent, it’s estimated that perhaps 3,000 to 5,000 examples may exist across all grades. Otherwise, non-error steel cents are not in themselves rare. Their value lies in their novelty. How much a steel penny is worth is very dependent on the condition of the coin.

Which religion prays to God?
Which religion prays to God?

Christians generally pray to God. Some Christians, such as Catholics, Lutherans, Orthodox, and Methodists pray for the dead; Roman Catholics, will...

Read More »
What are the 5 most profitable businesses?
What are the 5 most profitable businesses?

Most Profitable Business Ideas Business Consulting. If you're an expert in your industry and have been working at it for years, you should consider...

Read More »

What About 1944 Steel Cents?

As mentioned above, 1943 copper pennies are rare and valuable. Their steel counterparts are much more common. Ironically, the transition back to the normal bronze composition in 1944 reversed this situation! 1944 bronze cents are common, but a few of the steel-coated zinc coins were minted that year by mistake. Thus, 1944 steel cents are exceptionally scarce and command very high values. Confusing which is which between the two years could cost you dearly in your coin collection.

Collecting the 1943 Lincoln Penny

Many coin collectors include the various 1943 pennies among their larger collections of Lincoln cents. However, the trio of business-strike Philadelphia, Denver, and San Francisco 1943 Lincoln steel cents constitute a very popular one-year short set. This set is commonly sold in mass-market offerings. Often they are “reprocessed” (stripped and recoated) pieces assembled in plastic display cases. Then they are sold via general-readership newspaper and magazine advertisements. There is no right or wrong way to collect 1943 Lincoln cents. Given their novelty, they also make great gifts. Steel pennies have helped spark numismatic interests in folks who otherwise may not have become coin collectors. Indeed, whether collected as part of a short set or incorporated into a larger run of Lincoln cents, the 1943 steel pennies are favorites among non-numismatists and veteran coin collectors alike. Joshua McMorrow-Hernandez is a journalist, editor, and blogger who has won multiple awards from the Numismatic Literary Guild. He has also authored numerous books, including works profiling the history of the United States Mint and United States coinage.

More about rare coins and coin values from the author:

Are Silver & Gold Magnetic? Here's How to Test Your Silver & Gold

Buffalo Nickel (1913–1938): Values & History

What Dimes Are Worth Money?

Mercury Dime (1916–1945): Values & History

Washington Quarters: Key Dates & Varieties

The Most Valuable Kennedy Half Dollars

How can I cleanse my air naturally?
How can I cleanse my air naturally?

Even the chemicals from paint, nail products, cleaning equipment and detergents, all contribute to polluting the air inside our homes. ... Here's a...

Read More »
What are the top 10 birthdays?
What are the top 10 birthdays?

The 10 Most Popular Birthdays September 9th. September 19th. September 12th. September 17th. September 10th. July 7th. September 20th. September...

Read More »
Awaken your dormant DNA ability to attract wealth effortlessly
Awaken your dormant DNA ability to attract wealth effortlessly

The simple yet scientifically proven Wealth DNA method laid out in the report allows you to effortlessly start attracting the wealth and abundance you deserve.

Learn More »
What was Jesus favorite color?
What was Jesus favorite color?

The Bible doesn't specifically mention Jesus' favorite color but we know He would've witnessed the oranges and reds of sunsets, the blue of the...

Read More »
Can you give birth silently?
Can you give birth silently?

While there's no scientific evidence to support the idea that silent birth preserves the baby's psyche, it's long been known that women labor most...

Read More »