The post Investing in the 1943 Steel Penny by Henry Stater appeared first on Benzinga. Visit Benzinga to get more great content like this.
The 1943 steel penny is one of the most unique and talked-about coins in U.S. history—and it’s caught the attention of both collectors and investors. Struck during World War II, this penny was made of steel coated with zinc instead of the usual copper, which was needed for wartime production. While most 1943 steel cents are common, certain rare varieties and pristine examples can hold significant value.
Investing in the 1943 steel penny can be a smart move for those interested in numismatics, especially if you know what to look for and how to spot the true rarities.
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Value of a 1943 Steel Penny
Most 1943 steel pennies are worth just a few cents in average condition because more than 1 billion were minted for circulation. However, uncirculated specimens can fetch a few dollars, and some steel pennies in mint condition or with rare marks or errors can be worth significantly more. Keep reading to figure out if you have one of these rare outlier coins.
In general, a steel penny in average condition is valued at 10 to 25 cents. An uncirculated coin can fetch between $1 and $5. However, 1943 pennies in exceptional condition (graded MS 67 or above) command significantly higher prices:
- MS 67: $200 – $285
- MS 68: $3,100 – $5,000
- MS 68+: $15,500 – $35,000
History of the 1943 Steel Penny
During World War II, the United States needed to conserve copper for the production of shell casings and munitions, which led to the decision to mint pennies from zinc-coated steel instead. The 1943 steel penny was first and last minted that year, with over a billion coins struck.
Despite being initially disliked by the public because of the tendency to quickly lose its zinc coating and then rust, the 1943 steel penny has become a popular collector’s item as its unique history sets it apart from other coins.
How to Estimate the Value of a 1943 Steel Penny
Determining the value of your 1943 Steel penny involves examining several key factors that can significantly impact its worth. These include
Condition
The first step is to inspect the coin’s condition, as this factor plays a major role in its value. Look for signs of wear like scratches, dents, or discoloration, and take notice if the coin’s luster is still present. Coins in the best condition can be considerably more valuable than those with visible signs of heavy use.
Mint Marks
Next, pay attention to the mint marks found on your steel penny. Mint marks indicate the specific U.S. Mint that produced the coin and can help establish its rarity. On the 1943 steel penny, the mint mark can be found just below the date: “D” represents the Denver Mint, “S” stands for the San Francisco Mint, and no mint mark indicates the Philadelphia Mint. Some mint marks are scarcer than others, like the S in this coin’s case, meaning that 1943-S steel pennies are often the most valuable (not including coins with rare errors).
Mint Errors
In addition to mint marks, it’s essential to check for mint errors that may have occurred during the coin’s production. Mint errors can happen when something goes awry in the minting process, resulting in a coin that deviates from the standard design. These errors can significantly increase a coin’s value, so keep an eye out for unusual features or irregularities. For example, the 1943-D/D repunched mintmark steel penny can be worth more than $1,000 in uncirculated MS-65 condition or better.
To accurately estimate the value of your 1943 steel penny, thoroughly examine the coin, taking into account its condition, mint marks, and potential mint errors. Now, look up your specific coin with as much detail as possible and see how similar coins sell for.
How to Buy and Sell 1943 Steel Pennies
Most 1943 steel pennies in average condition aren’t worth selling unless sold in bulk. The rarest specimens are often bought and sold through major auction houses like Heritage Auctions. You can also try to go down to your local coin shop to see if it has steel pennies.
Other Collectible Coins You May Prefer
- Mercury Dimes: These attractive silver dime coins were minted from 1916 to 1945 and are some of the most popular collector’s coins in the U.S. They depict young Liberty wearing her Phrygian cap on the obverse, which was often confused with the Roman god Mercury. Mercury Dimes can be purchased from reliable precious metals dealers like JM Bullion.
- American Gold Eagle Coins: American Gold Eagle Coins are some of the most popular bullion coins in the world. They come in various denominations, including 1 oz, ½ oz, ¼ oz, and 1/10 oz. These popular gold coins are a great investment and can be bought from reputable dealers such as JM Bullion, American Hartford Gold, and APMEX.
- Gold Austrian Philharmonic Coins: Austrian Philharmonic Gold coins celebrate the world-renowned Vienna Philharmonic Orchestra with beautiful sparkling gold designs. Minted by the Austrian Mint, they are one of Europe’s most popular gold bullion coins. They come in denominations of 1 oz, ½ oz, ¼ oz, and 1/10 oz.
Where to Invest in Rare Coins
American Hartford Gold is a family-owned business based in Los Angeles, California. The organization is a market leader in precious metal investing. American Hartford Gold specializes in selling gold, silver, platinum, and palladium coins and bars and in helping its clients to set up Individual Retirement Accounts (IRAs) invested in precious metals.
Precious metals are popular investments during times of high inflation as investors look for a hedge against inflation. Gold and silver investments may not follow the same trends as stocks, making precious metal investing a potential safe haven.
American Hartford Gold offers investors the following services:
- Gold, platinum, palladium and silver investments
- Gold IRAs
Investors need an amount of $10,000 or more to start their retirement investment journey with American Hartford Gold. The company also assists investors looking to roll their current IRAs into gold IRAs. There are no taxes or penalties on either the trustee-to-trustee or 60-day rollover IRA options it offers. American Hartford Gold will buy back the precious metals when investors want to cash out.
- Investors looking for a hedge against inflation
- Retirement savers looking for tax benefits
- Quick & easy 3-step tax-free, penalty-free Gold IRA setup
- Same day IRA – fastest in the industry
- Ranked #1 Gold Company on the Inc 5000 List and A+ Rated on BBB
- Up to $15,000 in FREE silver on qualified accounts
- Lowest price guarantee, best ongoing promotions, no buy-back fees
- Wide range of investment-grade gold and silver products, including popular coins like American Gold Eagles and Canadian Silver Maple Leafs
- The company provides a wealth of information on investing in precious metals, including guides on the benefits of gold and silver investments
- Online catalog doesn’t show pricing
- No international shipping available outside of the U.S.
Priority Gold is a precious metals investment company specializing in gold, silver, platinum, and palladium. It offers investors a way to diversify their portfolios through physical bullion purchases and self-directed precious metals IRAs. Known for its customer service and educational resources, Priority Gold aims to help both novice and experienced investors navigate the complexities of precious metals investing.
In this review, we’ll examine Priority Gold’s services, pricing, security, and overall customer experience. Whether you’re looking to hedge against inflation or secure long-term wealth, understanding the pros and cons of investing with Priority Gold can help you make an informed decision.
- Anyone seeking to set-up a Gold or Silver IRA or rollover
- Beginner gold and silver buyers looking for a transparent and integrity-driven precious metals company
- Reasonable and fair pricing
- Buy Back and Price Protection plans
- Insured and robust IRS-approved vaults/depositories for IRA gold and silver storage (3 years free storage for eligible accounts)
- An impressive selection of rare and widely held precious metals products, including IRS-eligible gold and silver coins
- Unconditional and zero-fee precious metals buyback or a repurchase program guarantee
- Accessible and responsive customer service personnel available across multiple channels including phone and email
- A+ Rated on BBB and 5 star rating on TrustLink
- Expert gold and silver consultancy services offered by certified precious metals specialists who provide comprehensive guidance and support
- An insured and expedited shipping process
- Excellent research and educational resources, including a free precious metals and IRA kit
- Gold and silver coins dominate the precious metals product selection; customers who prefer larger bullion bars, rounds, and other forms of gold and silver might consider looking elsewhere
- No live chat
- No platinum and palladium, unlike some of its competitors
Preserve Gold is a precious metals investment company that specializes in helping individuals diversify their portfolios with gold, silver, and other precious metals. With economic uncertainty and inflation concerns driving increased interest in tangible assets, Preserve Gold positions itself as a trusted partner for those looking to safeguard their wealth. In this review, we’ll take a closer look at the company’s offerings, reputation, pricing, and customer service to help you determine whether Preserve Gold is the right choice for your investment needs.
- Retirement investors seeking reputable and knowledgeable dealers for setting up Gold IRAs to safeguard their retirement savings
- Individual investors looking for a trusted and reliable precious metals source to diversify their portfolios and protect from inflationary pressures
- Experienced precious metal investors interested in expanding their catalogs and turbocharging their portfolio with a wide range of precious metals, including gold, silver, platinum, and palladium
- Novice investors seeking transparent and integrity-driven precious metal dealers to provide them with the guidance and support needed to understand the world of precious metals investing
- Those interested in acquiring precious metals for collections or decorative purposes may also benefit from the price appreciation
- Zero-pressure sales tactics, excellent Trustpilot reviews and no BBB complaints
- 24-hour satisfaction guarantee — cancel your purchase within 24 hours of completing the transaction and receive your money without penalty, regardless of the reason
- Competitive pricing — they can price-match or beat the price of their competitors
- Excellent buyback policy — zero liquidation fees for existing clients
- Lifetime account support from a dedicated precious metals specialist
- Extensive catalog of major precious metals, including gold, silver, platinum, and palladium
- Excellent educational resources, including ebooks, informational kits, and market outlook
- Reputable company whose executive team has 30+ years of combined experience streamlining precious metal investment
- Free, insured, and fast shipping within one week of payment clearance
- Limited fee information online — investors must call or fill out a form to get metal pricing
- US customers only
High-Value Coins as an Alternative Investment
In 1943, during World War II, the United States faced a copper shortage due to the war effort. As a result, the U.S. Mint made a unique decision to produce pennies using steel instead of traditional copper. This makes the 1943 steel penny a highly sought-after coin among collectors.
So, before you dismiss that old penny as mere pocket change, read on to discover the fascinating world of the 1943 steel penny and its potential value.
Frequently Asked Questions
Which 1943 penny is worth $1,000,000?
Why are 1983 pennies worth more?
How much can you sell a 1943 silver penny for?
A 1943 “silver” penny (actually a steel penny coated with zinc) typically sells for:
Circulated condition: $0.05 to $1
Uncirculated condition:
-
MS60–MS64: $5 to $15
-
MS65+: $20 to $50 or more, depending on the mint mark and grading.
The post Investing in the 1943 Steel Penny by Henry Stater appeared first on Benzinga. Visit Benzinga to get more great content like this.