1943 steel penny 0

[NumisMagic]

My brother tells me that 1943 steel pennies are a dime a dozen. I have never located one so he gave me 5 of his for my BD. What are the hallmarks of a desirable or unusual 1943 steel penny that might increase it's value (if it's worth at least a penny?!) The only thing I know for sure is they are the only pennies I have that stick to a magnet 🧲. 😁 Thank you in advance for any info provided. 

[Woods020]

Your brother is correct in that there are plenty available. It only becomes rarer at the highest grades. MS 67 and above they start to get much more valuable, and there are some MS 68s floating around that are a pretty penny (pun intended). So to answer your question look for strong strike, nice surface preservation, and eye appeal. 

[Just Bob]

Your brother sounds like a cheapskate, if, as a birthday present, he gave you only 5 coins that are a dime a dozen. 

 

[Coinbuf]

Yes steel cents from 1943 are very common, what is also very common with these coins is the number of them that have been reprocessed.  They are so common that steel cents can be found in grades up to MS66 at very affordable prices, however avoiding the reprocessed coins is important.   You should be wary of anyone advertising one of these steel cents as very high grade (MS67 or higher) that is not graded by a reputable TPG, those are very often the coins that have been reprocessed.

[Hoghead515]

There are definitely plenty out there. Very easy to come by in circulated condition at a very cheap price. Like Woods020 said though when you start getting up there in the higher mint state coins the price starts getting high. 

Edited June 24, 2021 by Hoghead515

[EdG_Ohio]

A MS67 will look like this(price guide $215.00 but lower price on market)....and regardless of condition these do hold a bit of our American history within them, so at least they hold these qualities.

[RWB]

On 6/24/2021 at 9:10 AM, NumisMagic said:

My brother tells me that 1943 steel pennies are a dime a dozen. I have never located one so he gave me 5 of his for my BD. What are the hallmarks of a desirable or unusual 1943 steel penny that might increase it's value (if it's worth at least a penny?!) The only thing I know for sure is they are the only pennies I have that stick to a magnet 🧲. 😁 Thank you in advance for any info provided. 

If you want to buy one in uncirculated condition, only buy from a legitimate coin dealer. A great many of these have been chemically stripped and replated, then sold to unsuspecting people as "original." They are worthless.

1943 cents are too common for all but the very best to justify the cost of authentication and grading.

[comicdonna]

Here's my stash.

[Alex in PA.]

Nice stash.  

I'm really surprised at those 'Steel' cents considering all the tanks, ships, etc they were making.  Pittsburgh, PA was a booming place.

Edited June 25, 2021 by Alex in PA.
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[numisport]

The amount of steel needed for these coins would have been small compared to military and ship building requirements but I suppose the resources needed for the processing of planchets could have been disruptive. Take note of the huge quantities of iron [taconite] hauled across the great lakes to build stuff in Detroit and Pittsburg. Remember later in the 60's the Edmund Fitzgerald went down in water that wasn't as deep as the ship is long ? Pretty sure thousands of tons of ore still lay at the bottom to this day.

[comicdonna]

3 minutes ago, numisport said:

The amount of steel needed for these coins would have been small compared to military and ship building requirements but I suppose the resources needed for the processing of planchets could have been disruptive. Take note of the huge quantities of iron [taconite] hauled across the great lakes to build stuff in Detroit and Pittsburg. Remember later in the 60's the Edmund Fitzgerald went down in water that wasn't as deep as the ship is long ? Pretty sure thousands of tons of ore still lay at the bottom to this day.

Some comics during that era were made with 1 staple instead of two.  

[Henri Charriere]

I believe the 1943 steel cent is the only "Wheatie" I can make an exception for as far as non-copper cents go. They're different and unique. I like 'em.  Always have and always will.

[RWB]

On 6/25/2021 at 7:00 PM, Alex in PA. said:

Nice stash.  

I'm really surprised at those 'Steel' cents considering all the tanks, ships, etc they were making.  Pittsburgh, PA was a booming place.

1943 cents were made from cheap, low carbon steel that easily rusted. It was intended for toys, children's lunch boxes, and similar uses. It was available in large quantities due to suspension of many consumer products during the war. It had to be coated with zinc to inhibit rusting when used for coinage. Details of this and other coin material experiments (plastic, glass, shell case bronze, etc.) are described in my book Pattern and Experimental Pieces of WW-II.

Edited June 27, 2021 by RWB

[Conder101]

On 6/25/2021 at 7:00 PM, Alex in PA. said:

I'm really surprised at those 'Steel' cents considering all the tanks, ships, etc they were making.

Yes they were making a lot of those, but iron/steel is VERY VERY common so it wasn't really a restricted material. and the Mint was able to get all they needed. The 1.09 billion steel cents only required 3,250 tons of steel.  A single destroyer was 2,500 tons, an aircraft carrier was over 100,000 tons.  The steel cents were the equivalent of about 90 Sherman tanks.  From 1942 to 1945 they made 50,000 Sherman tanks.  So steel for the cents was nothing.