Heard about the famous 1943 Lincoln Steel Penny? Have you also wondered why is it called “rare”?
It is best in our knowledge that most coins or pennies are composed of copper. If an old coin is not made out of copper, then we say that we have something rare.
Today, let’s find out why a 1943 Lincoln Steel Penny is called “rare”.
Silver Penny: it is not rare
The United States was in preparation for war in the Pacific and Europe in 1943. Copper was a fundamental metal in the production of ammunition. To spare copper for the war, the United States Mint under the authority from Congress, started making pennies out of steel with a thin covering of zinc. This gave the penny a silver shading rather than the ordinary orange/darker copper shading.
If you would ask if your 1943 penny is rare, then the appropriate response relies upon the composition of the 1943 penny. It is made out of steel covered with zinc If the penny has a silver color. It is to make it look more pleasant and keep it from rusting. When these coins were first issued, people commonly saved them because they were rare. A standard 1943 steel penny is worth just a few cents.
As the 1943 steel pennies coursed, the zinc coating began to turn dull dark and almost black. If these pennies have gone long enough circulation, the zinc coating totally wore off. And the steel underneath would begin to appear.
The penny would begin to rust when exposed to moisture. Some corrupt coin dealers began to re-plate the steel pennies coating them again with zinc. Even though these pennies show a beautiful sparkle, they are regarded as damaged coins and convey little or no value at all.
The Rare 1943 Penny
If your 1943 penny is made out of copper, it has a higher value, mostly around $10000. It is because the 1943 copper penny was made in error, and they are called “error coins”. The United States Mint unintentionally used a wrong sort of planchet metal when striking the coin. However, only a very few of these were left in the US Mint offices.
These error coins were made unintentionally. Some copper planchets excess or residue from the earlier year stalled out toward the corners of the huge bins that moved the clear planchets around the mint. At the point when they were removed, they mixed in with the standard zinc plated steel planchets and handled through the coining presses.
So now, what are you going to do if you have one?
What to do? You click now and learn more. Unfortunately, there are a lot of fake 1943 copper pennies circulating. But luckily, there are reputable coin dealers where you can have it authenticated and sold, like coins katy. For over 35 years, it has been a leading authority that you can count on when it comes to buying and selling rare coins, jewelry, and more.