This post is a follow up to
@dbooster's penny post! I did promise to show my complete set of steelies.
The 1943 U.S. Steel Penny is a fascinating piece of history! During World War II, copper was in high demand for military purposes, so the U.S. Mint produced pennies using zinc-coated steel instead. These coins, often called "steelies," have a unique silver-like appearance and are magnetic—unlike traditional copper pennies.
Steel pennies were produced exclusively in 1943 during World War II. The U.S. Mint switched to using zinc-coated steel for pennies that year to conserve copper for military purposes. After 1943, the Mint returned to using copper alloys for pennies. These steel pennies remain a unique and collectible part of U.S. coinage history.
The steel pennies, while innovative, had their challenges. They were often mistaken for dimes due to their color, and their edges were prone to rust because the galvanization process didn't cover them completely. Despite these quirks, they remain a favorite among collectors for their historical significance.
Interestingly, a small number of 1943 pennies were mistakenly struck in copper, making them incredibly rare and valuable. These copper versions can fetch hundreds of thousands of dollars at auction.
Steel pennies from 1943 are not particularly rare, as millions were produced during that year. However, their value depends on their condition and mint mark.
Common steel pennies: These are generally worth between 20 cents and $20.
High-grade steel pennies: Coins in excellent condition can fetch higher prices, ranging from $30 to $200.
Rare error coins: Some steel pennies with errors, such as doubled mint marks, can be worth several hundred dollars.
Copper 1943 pennies: These are extremely rare and valuable, with some selling for over $100,000 at auction.
If you have one, it might be worth checking its condition and mint mark to determine its value.
The obverse of the 1943 steel penny
The obverse of the 1943 steel penny features a portrait of President Abraham Lincoln, a design introduced in 1909 by the artist Victor David Brenner. Initially, Brenner's initials were displayed prominently on the reverse of the coin, but they were removed after facing criticism. In 1918, the initials were reinstated on the obverse, appearing on Lincoln's shoulder, where they remained in 1943.
The coin also carries the motto "In God We Trust" above Lincoln’s image. To the left is the word "Liberty," while the date is positioned on the right. If the coin has a mint mark, you’ll find it located below the date.
The reverse of the 1943 steel penny
The back of the 1943 steel penny features the same iconic design as the original Lincoln cents: two ears of wheat framing the inscription of the denomination and the country’s name. At the top is the Latin phrase E pluribus unum, meaning “From the many, one,” symbolizing the union of individual states to form the nation. The reverse, like the obverse, was crafted by the talented Victor David Brenner.
Here is a YouTube video about steel pennies.
Reference
https://www.coinvaluechecker.com/how-much-is-a-1943-steel-penny-worth/
https://www.coinstudy.com/1943-penny-value.html
https://coins.thefuntimesguide.com/1943-penny-value/
https://www.gainesvillecoins.com/blog/1943-steel-penny-value
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