Check What Makes This Penny Worth $1.7 Million on National Lucky Penny Day: The 1943 copper penny is the holy grail for coin collectors and casual finders alike. On National Lucky Penny Day—celebrated every January 25—enthusiasts inspect their change not just for luck but for rare errors that can turn a humble one-cent coin into a multimillion-dollar prize.
Beyond the feel-good folklore of heads-up pennies bringing good luck, the story of the 1943 copper strike embodies a fascinating mix of wartime necessity, minting mishap, and modern detective work. Whether you’re a professional numismatist or a 10-year-old just learning about coins, this guide unpacks the mystery step by step, explains how to spot these “off-metal” cents, and offers practical advice for anyone who might own one without realizing it.
What Is National Lucky Penny Day?
National Lucky Penny Day is an informal holiday on January 25 that celebrates the tradition of picking up coins for good luck—especially if they land heads-up. Beyond the superstition, many collectors use this day to carefully examine their loose change for rare mint errors or varieties that can be worth far more than one cent.
Why January 25?
Legend says that as long as you find a penny (heads-up) on this date, your day—and maybe even your year—will be lucky!
On National Lucky Penny Day, the thrill of uncovering a stray cent goes beyond superstition—it can reveal one of numismatics’ greatest rarities. The 1943 copper penny illustrates how a simple minting error transforms a humble one-cent piece into a multimillion-dollar treasure. Armed with the right tools and knowledge—from magnet tests to professional grading—your next lucky penny could be more than just good fortune; it could be life-changing value.
The 1943 Pennies—Steel Standard vs. Accidental Copper
Wartime Metal Shortage
- During World War II, copper was in high demand for shell casings and military equipment.
- To conserve copper, the U.S. Mint switched Lincoln cents from bronze (95% copper) to zinc-coated steel in 1943.
- Over 1 billion steel cents were produced that year, each magnetic and lighter than their bronze predecessors.
The Off-Metal Error
- Amid the massive steel-cent production, a few leftover copper planchets (blank metal discs) were accidentally fed into the presses.
- These mismatched planchets produced true copper cents dated 1943, indistinguishable in date but different in composition.
- Experts estimate only 40 such coins were struck, of which just 13 are confirmed survivors.
Mint Marks and 1943 Varieties
- The 1943 copper cents can bear different mint marks: “D” for Denver or “S” for San Francisco.
- Mint mark location: below the date on the obverse (heads side).
- Most auction records involve D-mint coins, but S-mint examples also surface and command high prices.
- No known Philadelphia (no mint mark) copper cents have appeared, making any future find from that mint even more extraordinary.
Why the 1943 Copper Penny Commands Millions
Extreme Rarity
- With only a few dozen ever made—and fewer still that survived—supply is minuscule.
- Collectors prize them as the ultimate minting anomaly.
Auction Records
- In September 2010, one specimen sold for $1,700,000 at auction, setting a record for any Lincoln cent.
- Another famous 1943 bronze cent went for $1,000,000 to a private collector.
- Even lower-grade examples often fetch six-figure sums.
How to Identify a Genuine 1943 Copper Penny
Identifying a copper 1943 cent in your pocket change is surprisingly simple if you follow these steps:
1. Magnet Test
- Steel cents will stick to a magnet.
- A true copper penny – weighing slightly more and non-magnetic – will repel the magnet.
2. Weighing
- Copper penny weight: ~3.11 g
- Steel penny weight: ~2.70 g
- A precision scale accurate to 0.01 g can confirm the weight difference.
3. Visual Clues
- Compare the “3” in the date to authenticated steel-cent examples: the genuine steel cents have a slightly different numeral style.
- Look for exceptionally sharp details; copper planchets struck at steel-press pressures produce very crisp strikes.
Coin Collecting as a Hobby: Getting Started
- Choose a Focus: Decide on an area (e.g., error coins, wheat cents, buffalo nickels).
- Build Tools: Get a loupe (10× magnification), precision scale, and magnet.
- Learn Grading Basics: Understand wear grades (Good, Fine, Extremely Fine, Mint State).
- Network: Join local coin clubs or online forums (e.g., Reddit’s r/coins).
- Record-Keeping: Maintain a digital or physical inventory with photos and condition notes.
Storing and Insuring Your Rare Coins
- Storage: Use acid-free coin flips or hard plastic holders—avoid PVC flips that can damage coins over time.
- Environment: Store in a cool, dry place with stable humidity.
- Insurance: Contact your homeowner’s or renter’s insurance; consider a specialized coin insurance rider.
- Estate Planning: Document your collection’s value and designate a trustee or executor who understands numismatics.
Authenticating and Grading Your Penny
Even if your penny passes the magnet and weight tests, professional certification is essential before sale or insurance.
Reputable Grading Services
These services will:
- Authenticate the metal composition.
- Grade the strike and condition on a 70-point scale.
- Encapsulate the coin in a sealed holder to preserve its condition.
Pro Tip: Avoid local “coin shops” that offer plating or cleaning services; many counterfeits are steel cents plated with copper.
Auction History and Market Trends
Price Milestones
- $1,700,000 – Record for a 1943 copper cent (Sept 2010).
- $1,000,000 – Sale of a 1943-S copper cent to a private collector.
- $200,000+ – Typical price for lower-grade examples.
Market Demand
- Adult collectors and institutional investors drive demand.
- Increasing interest in error coins as alternative assets.
- Featured at major houses like Heritage Auctions and Stack’s Bowers.
Practical Advice for Coin Hunters
- Check Your Change: Use a magnet swipe at home.
- Inspect Old Collections: Estates and attics can surprise you.
- Stay Informed: Follow auction results and numismatic news.
- Use Genuine Comparisons: Keep a known steel 1943 cent handy for side-by-side tests.
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FAQs About Check What Makes This Penny Worth $1.7 Million on National Lucky Penny Day
Q1: How rare is a genuine 1943 copper penny?
A1: Only around 40 were struck, with 13 confirmed survivors, making it among the rarest U.S. coins.
Q2: Can I clean a copper penny to increase its value?
A2: Never clean error coins; cleaning can damage the surfaces and void grading.
Q3: How do I ship my penny for grading?
A3: Secure it in padded mailers, use insured shipping, and follow PCGS/NGC submission guidelines.
Q4: What if I find a plated fake?
A4: Counterfeits are often plated steel cents; magnet and weight tests catch most, but professionals confirm plating.
Q5: Are there other valuable error pennies?
A5: Yes—1955 doubled die, 1969-S doubled die, 1972 doubled die. None match the multimillion-dollar status of the 1943 copper strikes.
