The Lincoln Wheat Penny was produced from 1909 to 1958 and is one of the valuable pieces in American numismatic history. Most of them were sold at face value, a cent; however, some rare models go on to sell for thousands of dollars when put up for auction.
Within recent times, a 1943 Lincoln Wheat Penny went to auction for $240,000. This clarifies how much value some coins carry.
Knowing Your 1943 Lincoln Wheat Penny
The U.S. Mint switched to zinc-coated steel from traditional bronze planchets in 1943, during World War II, as a way of conserving copper for the war.
In 1942, some remaining bronze planchets from the Mint supply were mistakenly used to coin 1943 pennies. This has the effect of making such mis-struck bronze pennies extremely rare, with perhaps only a few scattered examples.
| Feature | Description |
|---|---|
| Mint Year | 1943 |
| Mint Mark | Philadelphia (no mint mark), Denver (D), or San Francisco (S) |
| Material | Bronze (copper and tin) instead of steel |
| Rarity | Extremely rare; only a few known examples |
| Value | Can fetch up to $240,000 at auction, depending on condition and provenance |
Factors Contributing to the Penny’s Value
The following are factors that give the 1943 bronze Lincoln Wheat Penny high value:
- Rarity: Bronzes were an accident in the minting process in 1943, so these coins are very rare.
- Grade: A coin with an AU50 or About Uncirculated 50 grade is considered more valuable due to minimal wear and preserved details of the designs.
- Provenance: Documented ownership and sales history may make the coin more valuable.
- Market Demand: Bidding pressure and desire by collectors will raise the price at auction.
How to Determine if You Have a 1943 Bronze Lincoln Wheat Penny
You can use the following steps to identify if you have a 1943 bronze Lincoln Wheat Penny:
- Visual Examination: Look for the year “1943” and for a lack of mint mark (Philadelphia), “D” for Denver, or “S” for San Francisco.
- Magnet Test: Place the coin near a magnet with care. Any stickiness will point to a steel penny. Absence or lack of stickiness would mean bronze.
- Professional Grading: In order to come to an assured decision submit your coin at professional coin grading services to verify its authenticity while also grading of the coin.
Other Valuable Lincoln Wheat Pennies
Aside from the popularly known, bronze 1943 penny another highly sought collectible and some pretty valuable penny varieties are actually under the very broad category: the Lincoln Wheat Penny. A couple of worth mentioning are,
1944 Steel Cent
- 1944 Steel Cent : This is a kind of an error: the steel planchets that were employed mistakenly during 1943 are used in 1944 instead of the usual bronze.
- 1922 No D Penny: A 1922 Denver mint penny which lacks the “D” mint mark since the die used had worn out, has become a sort of an error coin.
- 1955 Double Die Obverse: In this particular instance, the obverse of a 1955 penny appears to be double stamped, at least for the date and the “LIBERTY” inscription.
Whereas, though the 1943 bronze Lincoln Wheat Penny is very rare and highly priced, these coins are extremely rare.
Most of today’s Lincoln Wheat Pennies circulation mintage values lie strictly to the face. Though, with more interest from a numismatic side, even just knowing a small amount can teach and have worth.
FAQS:
What makes the 1943 bronze Lincoln Wheat Penny so valuable?
Its rarity is a result of accidental use of bronze planchets in 1943 and also because of its historical value and condition.
How can I know if my 1943 penny is made of bronze or steel?
Test with a magnet: if the coin sticks to a magnet, it is steel; if it does not, it is probably bronze.
Are there other valuable Lincoln Wheat Pennies?
Other great coin interests are the 1944 steel cent, 1922 no D penny, and the 1955 double die obverse.