Are you aware of how to identify this precious penny? Coins are abundant, and at times they hold far greater value than at first glance. Recent news reports have highlighted a particular penny that holds significant worth!
Per Coin Trackers, the New York Post, KHOU, and Daily Mail UK, a pristine 1943 copper wheat penny could potentially fetch over $85,000! KHOU, in collaboration with Royal Coin and Jewelry in Houston, disclosed that during 1943, pennies were crafted from steel and coated with zinc to prevent corrosion. Coin Week clarifies that due to the demand for copper during World War II, all 1943 pennies were produced using zinc-coated steel. Watch the video below.
In 1943, a few copper blanks were mistakenly utilized in the production of pennies. These error coins now command high prices, sometimes reaching five or six figures.
A pristine 1943 copper wheat penny may hold a value of approximately $85,000. Even in lesser conditions, they typically fetch around $60,000 on average, according to Coin Tracker. U.S. Mint error specialist Saul Teichman affirms that collectors highly prize these coins, leading to their elevated prices compared to other errors from the same era. While other World War II coin errors may be scarcer, they do not command the same high prices due to a lack of similar appeal.
The media has issued a caution to coin enthusiasts regarding counterfeit 1943 copper wheat pennies.
Given the significant attention these pennies are receiving, the market is flooded with fakes. According to Coin Trackers, some scammers alter the 8 on a 1948 penny to resemble a 1943 version. Others coat a steel penny with copper to create the illusion of authenticity. To test for counterfeit coins, Coin Trackers recommends using a magnet.
As explained by Daily Mail UK, “An authentic copper penny will not be attracted to a magnet, whereas a steel penny with copper plating will be.” Hence, it is advisable to inspect your collection—there could be a valuable penny among them! Share this valuable information with your acquaintances.
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