1943 Steel Penny: What It Is Really Worth
Affiliate disclosure: we may earn a commission when a reader opens an account through links on this page. The commission has no effect on what you pay or on what we publish. We are not a financial or tax advisor; consult a licensed advisor for your situation. Last reviewed August 2026.
Short on time? The essentials
- The 1943 cent is not a mistake and not rare. It was struck in zinc-plated steel at the Philadelphia, Denver, and San Francisco mints because World War II copper was reserved for shell casings and wiring.
- A 1943 steel cent weighs 2.702 grams, measures 19.05 mm across, and is the only regular-issue U.S. coin that a magnet will pick up.
- Common circulated 1943 steel cents sell in the low pennies to about a dollar range. Sharply struck, uncirculated grades from a reputable third-party grader can bring meaningful premiums.
- The rare 1943 copper cent is a genuine mint error. Roughly 40 examples are believed to exist and 13 are documented. One 1943-D bronze specimen sold at auction for 1.7 million dollars in September 2010, per PCGS.
- A magnet is the fastest counterfeit filter. A genuine 1943 copper cent will not stick. A copper-plated steel cent will stick strongly and is a fake or a novelty.
- The most common fakes are copper-plated 1943 steel cents and altered 1948 cents whose second digit has been reshaped from an 8 into a 3.
- Steel scrap value on a 2.7 gram cent is a fraction of a penny, so the practical floor for any 1943 cent is its 1 cent face value plus whatever a collector will pay above it.
- If you suspect a 1943 copper cent, do not clean it, do not sell it locally, and submit it to an independent grading service before quoting a price to anyone.
On this page
Why 1943 cents are steel
The United States entered World War II in December 1941. Copper became a strategic war metal used in shell casings, radio wiring, and communications equipment. The U.S. Mint was ordered to conserve copper by finding a substitute alloy for the one-cent coin.
The Mint researched several substitutes, including other metals and even plastic. The choice landed on low-carbon steel with a thin zinc coating that gave the coin a bright silver color at issue. All 1943 Lincoln cents circulated in that composition, struck at Philadelphia, Denver, and San Francisco.
The change was single-year. The Mint replaced steel with a copper-and-brass alloy salvaged from spent shell casings for 1944 through 1946, then returned to the prewar composition. Steel cents kept circulating into the 1960s until the Mint pulled and destroyed large quantities.
The specifications of a genuine 1943 steel cent
Every genuine 1943 steel cent has the same measurable specifications. The table below is the identification baseline. Any 1943-dated cent that does not match these numbers is either a counterfeit, an altered piece, or a rare error worth independent verification.
| Attribute | 1943 steel cent | Pre-war and post-war bronze cent |
|---|---|---|
| Composition | Low-carbon steel core with a thin zinc plating (approximately 99 percent steel) | 95 percent copper, balance tin or zinc (1909 to 1942, 1944 to 1962 alloy) |
| Weight | 2.702 grams | 3.11 grams |
| Diameter | 19.05 mm (0.750 inch) | 19.05 mm (0.750 inch) |
| Edge | Plain | Plain |
| Magnet test | Sticks strongly to a household magnet | Does not stick |
| Design | Lincoln obverse and wheat ears reverse by Victor D. Brenner | Lincoln obverse and wheat ears reverse by Victor D. Brenner |
| Mints | Philadelphia (no mint mark), Denver (D), San Francisco (S) | Same three mints during the wheat-cent era |
Sources: Wikipedia 1943 steel cent entry and Wikipedia Lincoln cent entry, both citing the U.S. Mint historical composition record. Checked August 2026.
The steel cent is the only regular-issue United States coin that can be picked up with a magnet. That single property makes home identification of 1943 cents faster than for any other date in the series.
What a 1943 steel cent is actually worth
The honest answer, for the version almost everyone owns, is that a 1943 steel cent in circulated condition is a common coin worth a modest premium over face value. Tens of millions were struck and enough survived through the 1940s and 1950s that the coin is not scarce today.
Value is qualitative, and four factors move it. Condition is the largest lever. A worn, corroded, or "reprocessed" cent trades near face. A sharp, original mint-state coin certified by an independent grader trades for many multiples of that floor.
Mint mark matters less on this issue than on many other Lincoln cents. Philadelphia, Denver, and San Francisco all produced large quantities in 1943. The San Francisco version is the least common of the three, but even in mint state it does not approach the four-figure territory that the mint-error 1943 copper cent occupies.
The final factor is authenticity. A cleaned coin, a reprocessed and replated cent, or a coin with heavy pitting from rust always trades at a discount to an untouched specimen of the same grade. Steel cents oxidize easily because the punching process cut through the zinc coating at the rim.
The rare 1943 copper cent
The 1943 copper cent is a different coin from the steel cent. It was not part of the mint plan. It came from a small number of bronze planchets that stayed in the coining presses when the U.S. Mint switched to steel blanks in early 1943.
Estimates place the total at roughly 40 examples believed to have been struck across the three mints, with 13 examples confirmed to exist. The first two were discovered in 1947. Additional pieces surfaced over the following decades.
A 1943-D bronze cent, meaning a copper-alloy cent struck at Denver on a leftover 1942-composition planchet, sold at auction for 1.7 million dollars in September 2010 per PCGS. That sale set the record for a Lincoln cent at that time. It remains the benchmark public price on this issue.
A related error, the 1944 steel cent, exists in even smaller numbers than the 1943 copper cent. A 1944-S steel example sold at Heritage Auctions in August 2008 for 373,750 dollars, according to reporting on that sale.
Two facts sit under those numbers. First, headline auction prices reflect certified, high-grade examples that passed independent authentication. Second, a raw and unverified 1943 copper cent presented to a dealer without third-party grading will not attract those figures under any circumstance.
How to authenticate a suspected 1943 copper cent
Almost every 1943 cent that surfaces in a jar, drawer, or inherited collection is a common steel cent, sometimes disguised by handling or plating. The steps below are the sequence a serious numismatist runs before treating a 1943 cent as a potential error.
- Run the magnet test first. A household magnet will attract a steel cent strongly and will not attract a genuine copper cent at all. A copper-plated steel counterfeit will still stick because the core is steel, not copper. Any coin that sticks is not a 1943 copper cent.
- Weigh the coin on a jewelry scale. A genuine 1943 copper cent weighs 3.11 grams. A steel cent weighs 2.702 grams. A digital scale that reads to two decimal places is enough to separate the two families instantly.
- Compare the numeral 3 in the date. A 1943 date has a long, curved tail on the numeral 3 that matches the steel-cent working dies of that year. Cents altered from 1948, 1949, or 1945 show a shorter or reshaped 3 next to a genuine example.
- Inspect the strike quality under magnification. Genuine 1943 copper cents were struck with the higher pressure used for steel cents. The rim detail and the fields tend to be sharper than a typical worn wheat cent from adjacent years.
- Do not clean the coin. Any polishing, dipping, or scrubbing lowers the grade an independent grader will assign and can lower the value by orders of magnitude. Preserve the coin exactly as found.
- Submit the coin to an independent third-party grading service. Only a certified authentication from an established grader carries weight in the marketplace. Verbal appraisals and photo opinions do not.
Melt-floor math on a 1943 steel cent
What your 1943 penny is probably not
Most 1943 pennies that walk into a shop or arrive by email are not what the owner hopes. It is more useful to know the honest patterns than to be sold on possibility. The list below is what a 1943 cent most often turns out to be.
An ordinary 1943 steel cent, uncleaned. This is by far the most common outcome. The coin is real, the composition is real, and the value is a modest premium over face at best. It is a genuine World War II artifact, and that is where the value line usually stops.
A reprocessed steel cent, replated to look uncirculated. Dealers stripped the original zinc coating off tarnished steel cents and replated them for the novelty market. These are sometimes labeled "brilliant uncirculated" online. They are not mint state, and independent graders will not certify them as such.
A copper-plated 1943 steel cent. A hobbyist or a scam artist added a thin copper skin to a genuine steel cent. It sticks to a magnet, weighs 2.702 grams, and has a shiny copper surface that can hide the plating line at the rim under magnification.
An altered 1948, 1949, or 1945 cent. Someone reshaped a digit in the date to read 1943. Side-by-side with a real 1943 cent, the digit shape gives the alteration away. This is a common trick on collector forums.
A perfectly real 1943 copper cent, undiscovered. This outcome is possible and it is the reason to check every 1943 cent for the two easy tests. It is also statistically rare enough that it should not shape financial decisions before an independent grader confirms the coin.
A 1943 bronze copy sold as a novelty in decades past. The novelty market produced copper-look 1943 cents as souvenirs. They are inexpensive keepsakes and they are not authentic mint errors, no matter how convincingly they are presented on a resale listing.
1943 steel penny FAQ
Are all 1943 pennies steel?
Almost all of them. The U.S. Mint switched the one-cent coin to zinc-plated steel for 1943 to save copper for World War II production. A very small number of copper-alloy cents were struck by accident when leftover 1942-composition planchets stayed in the press hoppers. Those copper errors are the exception, not the rule.
How much is a 1943 steel penny worth today?
A common circulated 1943 steel cent trades from a few cents to about a dollar depending on condition and the seller. Uncirculated coins with a strong original zinc surface and no rust can bring a stronger premium. Certified high-grade examples from an independent grading service sell for meaningful multiples of the raw-coin price.
How do I know if my 1943 penny is copper?
Hold a household magnet to it. A genuine 1943 copper cent will not stick to a magnet at all. If your coin sticks, it is a common steel cent or a copper-plated fake. Weigh it on a jewelry scale next. A copper cent is 3.11 grams and a steel cent is 2.702 grams.
What does the magnet test actually prove?
The magnet test rules out the two most common problem coins. A steel cent will stick strongly and is worth a small premium over face at best. A copper-plated steel cent, the classic counterfeit, will also stick because the core underneath the plating is steel. Any coin that sticks is not the rare 1943 copper cent.
Should I get my 1943 cent professionally authenticated?
Only if the magnet test and the weight test both point toward a copper cent, or if the coin is a high-grade steel cent you plan to sell to a serious buyer. Independent grading has a fee, so it is not worth submitting a common circulated steel cent. It is essential for a suspected 1943 copper cent before any sale.
Was there also a 1944 steel cent error?
Yes. A small number of 1944 cents were struck on steel planchets left over from the 1943 production run. They are even scarcer than the 1943 copper cents. A 1944-S steel cent sold at Heritage Auctions in August 2008 for 373,750 dollars per public sale reports.
Why is my 1943 steel cent brown or rusty?
The zinc coating was cut through when the blank was punched from the sheet, so the rim was left with exposed steel. Handling, pocket sweat, and humidity oxidized the exposed steel over time. Rusted and darkened steel cents are common and grade lower than an original bright example.
Is a 1943 steel cent an investment?
A common 1943 steel cent is a collectible curiosity, not an investment position. Its metal content is trivial and its supply is large. A high-grade certified example, or a genuine 1943 copper error, can be an investment-grade coin. The starting posture on any 1943 cent should be authentication first, valuation second.
Sources
- Wikipedia, 1943 steel cent. Composition (99 percent steel with a thin zinc coating), mass 2.702 grams, diameter 19.05 mm, mints (Philadelphia, Denver, San Francisco), rare 1943 copper cent estimated at roughly 40 examples with 13 confirmed, and 1944 steel cent error notes. en.wikipedia.org/wiki/1943_steel_cent. Checked August 2026.
- Wikipedia, Lincoln cent. Historical composition record: 1909 to 1942 and 1944 to 1982 at 95 percent copper with tin or zinc balance; 1943 at zinc-plated steel; 1982 to present at copper-plated zinc. Also confirms 2.702 gram wartime steel weight and 19.05 mm diameter. en.wikipedia.org/wiki/Lincoln_cent. Checked August 2026.
- Professional Coin Grading Service (PCGS). PCGS-Certified 1943-D Bronze Cent Sold For 1.7 Million, news release dated September 23, 2010, reporting the record public sale for a Lincoln cent at that time. pcgs.com/news. Checked August 2026.
- CoinLink and Heritage Auctions coverage of the American Numismatic Association 2008 World's Fair of Money sale. 1944-S Steel Cent Sold for 373,750 Dollars, reported August 22, 2008. Referenced in Wikipedia 1943 steel cent entry with archive links. en.wikipedia.org/wiki/1943_steel_cent. Checked August 2026.
- Numismatic Guaranty Company (NGC). NGC Authenticates 1943 Lincoln Cent Made From Mostly Tin, 2019 authentication report, cited in the Wikipedia 1943 steel cent article. Provides context on non-steel 1943 pattern-like pieces authenticated by an independent grader. ngccoin.com/news. Checked August 2026.
- United States Mint. Coin Specifications and Historical Composition. Reference for the standard 3.11 gram pre-war and post-war bronze cent weight, 19.05 mm diameter, and the wartime deviation for 1943. usmint.gov/learn/history-and-artistry. Checked August 2026.
- Internal Revenue Code section 408(m) and section 1(h)(4). Governs the collectibles tax rate up to 28 percent on long-term gains from coin sales outside a retirement account. Office of the Law Revision Counsel. uscode.house.gov. Checked August 2026.