What penny is worth $1000000?

Simpson, co-chairman of the Texas Rangers baseball club, paid $1 million for the finest known 1943-S Lincoln Wheat cent on a bronze planchet. All 1943 Lincoln cents were supposed to be made of steel planchets coated with zinc. However, some bronze planchets left over from 1942 slipped into the production process.

thesprucecrafts.com - 1943-S Lincoln Cent Sells for $1 Million - The Spruce Crafts

Can money transfers be traced?

When you send a Fedwire or local U.S. wire transfer, you get a Federal Reference Number as the confirmation of your transaction. You can contact...

Last updated Jan 22, 2022

Is yellow lucky color for wallet?

Yellow is also an excellent choice for a wallet color as it is also directly linked to savings. If you are simply looking to increase your wealth,...

Last updated Aug 30, 2018

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 »

Promotion

In September 2012, Legend Numismatics of Lincroft, New Jersey has announced that collector Bob R. Simpson, co-chairman of the Texas Rangers baseball club, paid $1 million for the finest known 1943-S Lincoln Wheat cent on a bronze planchet. All 1943 Lincoln cents were supposed to be made of steel planchets coated with zinc. However, some bronze planchets left over from 1942 slipped into the production process. These error coins are extremely rare and highly sought after by error coin collectors. According to a press release, it was successfully acquired by Legend after "determined negotiations" with an East Coast dealer representing the seller who is described only as "a long-time collector," according to Legend President Laura Sperber. "Mr. Simpson said, 'It's a beautiful coin.' As he held it he reminisced about the 1943 'copper' Lincoln cent he found in change when he was a youngster, but that turned out to be a fake," said Sperber. The MS62 coin is the finest of four known 1943-S bronze cents, and it is an upgrade to an example graded PCGS AU58 that was in Simpson's registry set.

What Is an off Metal Error?

When the United States Mint manufactures coins, they are produced with tight tolerances as defined by law. Specifications in the law include diameter, thickness, metal composition, and design requirements. When a new law dictates a change to the coinage, the Mint must adjust its production process to accommodate the requirements of the new law. In this instance, the United States Congress passed a law that specified pennies produced in 1943 will be made out of steel instead of bronze. Additionally, the steel will be plated with a thin coating of zinc to inhibit rust. The thickness and diameter specifications remained unchanged.

How did this Error Coin Happen?

Each production facilities of the United States Mint is a factory that produces coins for the United States of America. Much activity goes on in these facilities that enable them to produce billions of coins every year. While they pay close attention to the process to achieve world-class quality, some mistakes do happen. In this instance, coin experts believe that planchets from the previous year (1942) which were made of bronze were still lingering in the production process. Although it cannot be proven, another explanation for this error coin is that a mint employee purposefully struck a few 1943 pennies on bronze planchets. Although illegal, sometimes these do escape the security procedures of the Mint.

Why Is It So Expensive?

Since Lincoln cents are one of the most collected United States coins, demand for them is extensive. Given the unusual look of a 1943 steel Lincoln cent, a 1943 Lincoln cent made out of bronze is one of the "Holy Grail" of Lincoln error collectors. Compounding the pressure of a highly collectible coin with the fact that there are only five known examples of a 1943-S Lincoln cent made in bronze, the price will skyrocket!

Learn more:

Is 50k saved at 30 good?

Financial services company Fidelity recommends having the equivalent of your annual salary saved. That means if you earn $50,000 per year, by your...

Last updated Sep 23, 2019

Which stone represents good luck?

Citrine. This popular gemstone is popular among those who believe in the power of natural materials. It is the stone of prosperity, wealth,...

Last updated Apr 29, 2022

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 »

Promotion

What do hotels use to make it smell good?

It's all thanks to a clever gizmo known as an HVAC scent diffuser. These are ultra-quiet attachments to heating/air conditioning systems that use...

Last updated Jan 10, 2020

What is the happiest color in the world?

Yellow Yellow is widely recognized as the happiest color in the world and comes with a scientific pedigree to back up this esteemed honor. Research...

Last updated Aug 4, 2018

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 »

Promotion

How do you write a powerful affirmation?

How to write affirmations Write affirmations in the present tense. Even if it's something you wish to accomplish in the future, come up with a way...

Last updated Sep 20, 2022

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 »

Promotion

Why does honey and cinnamon work for weight loss?

A 2011 study found that replacing sucrose with honey can help prevent weight gain. Another study from 2010 showed that honey can activate hormones...

Last updated Nov 8, 2022