A rare 1943 Lincoln penny mistakenly struck in bronze instead of zinc-coated steel has reportedly sold for $1 million. The 1943 penny is one of 20 that were accidentally minted when the federal government was trying to conserve copper for World War II. "By error, some bronze planchets made it into the hoppers at all three Mints, were struck and released into circulation. The $1.84 million price tag ⦠Mr. Simpson's Collection of Lincoln Cents Off-Metal Strikes. In September 2012, Legend Numismatics of Lincroft, New Jersey has announced that collector Bob R. Simpson, co-chairman of the Texas Rangers baseball club, paid $1 million for the finest known 1943-S Lincoln Wheat cent on a ⦠Given the unusual look of a 1943 steel Lincoln cent, a 1943 Lincoln cent made out of bronze is one of the "Holy Grail" of Lincoln error collectors. 1943-S copper Lincoln Wheat Penny, $185,000 ââ¬â The 1943-S copper cent is. The dollar had an average inflation rate of 3.54% per year between 1943 and today, producing a cumulative price increase of 1,405.63%. CoinTrackers.com has estimated the 1943 D Steel Wheat Penny value at an average of 45 cents, one in ⦠It is expected to fetch nearly $2 million at auction. "Mr. Simpson said, 'It's a beautiful coin.' An anonymous bidder scored the rare coin for $1.6 million in an auction at the American Numismatic Association convention at the Philadelphia Convention Center. 1943-S copper Lincoln Wheat Penny, $185,000 ââ¬â The 1943-S copper cent is. ⦠1943-S copper Lincoln Wheat Penny, $185,000 ââ¬â The 1943-S copper cent is the. This copper penny was suppose to be a 1943 steel. When a law dictates a change to the coinage, the Mint must adjust its production process to accommodate the requirements of the new law. 1943-S copper Lincoln Wheat Penny, $185,000 â The 1943-S copper cent is the one of the most valuable small cents, with one example having sold for a cool $1 million at an auction in 2012. Although illegal, sometimes these do escape the security procedures of the Mint. Read More: Judge Says 10 Rare Gold Coins Worth $80 Million Belong to Uncle Sam. This copper penny ⦠Specifications in the law include diameter, thickness, metal composition, and design requirements. Most pennies are worth just one cent, but some pennies are ⦠The 1943-S Copper Penny Found by Kenneth Wing, Lincoln Wheat Penny Key Dates, Rarities and Varieties. In 1943 all pennies minted by the United States mint were made out of zinc plated steel because the United States needed copper for World War II supplies. Get DIY project ideas and easy-to-follow crafts to help you spruce up your space. A subsequent piece sold for $10,000 at an ANA convention in 1981. The 1943 copper penny is a one million dollar penny! Compounding the pressure of a highly collectible coin with the fact that there are only five known examples of a 1943-S Lincoln cent made in bronze, the price will skyrocket! The Lincoln penny is pricey, but a rare dime has it beat. Legend Numismatics is a coin dealer of rare coins from Lincroft, New Jersey. The story behind copper 1943 Lincoln Pennies is presumed to be a pure accident at the U.S. Mint â perhaps a few leftover copper planchets from ⦠There is no penny worth a million dollars. From the little bit of copper left in the hopper, about 40 bronze 1943 Lincolns were minted. Million Dollar Copper 1943 Penny The million dollar penny, a 1943 copper S cent (minted from the San Francisco mint with copper alloy) was purchased by the Texas Rangers co-chairman Bob R. Simpson from Legend Numismatics. CBS News reports that another of the 1943 copper pennies sold for $1.7 million ⦠The 1943 copper penny is a one million dollar penny! The U.S. Mint switched from bronze planchets to zinc-coated steel for cents in 1943 because copper was needed during World War II. Bill Simpson, a co-owner of the Texas Rangers, recently dropped $1 million on a rare 1943 penny sold by a coin dealer representing a long-time collector, ABC News reported. A 1943 copper penny is worth around $85,000 while the 1943-S bronze penny is worth $1,000,000. © 2021 ABC News Internet Ventures. The seller was Laurie Sperber. An anonymous bidder scored the rare coin for $1.6 million in an auction at the American Numismatic Association convention at the Philadelphia Convention Center. Man Finds $126,500 Penny in Fifty-Cent Roll of Coins. The 1943 copper penny is a one million dollar penny! Sticks to a magnet â if your 1943 penny does stick to a magnet, itâs really made from steel and is not rare. The Lincoln cent is not just any copper ⦠How much is a 1943 penny worth central jersey rare coins rare pennies that are worth a fortune most valuable pennies work money rare penny is actually worth over 1 million and anyone might have 1943 steel penny ⦠A 1943 copper cent was first offered for sale in 1958, bringing more than $40,000. The Lincoln penny is pricey, but a rare dime has it beat. In September 2012, Legend Numismatics of Lincroft, New Jersey has announced that collector Bob R. Simpson, co-chairman of the Texas Rangers baseball club, paid $1 million for the finest known 1943-S Lincoln Wheat cent on a bronze planchet. The penny was produced accidentally in 1943, according to Heritage Auctions, where aspiring buyers are bidding on the coin. The most valuable wheat penny is the copper 1943-D Lincoln cent. CoinTrackers.com has estimated the 1943 D Steel Wheat Penny value at an average of 45 cents, one in ⦠When the United States Mint manufactures coins, they are produced within tight tolerances as defined by law. A penny that a Massachusetts teenager found in his change from lunch money could be worth as much as $1.65 million (£1.3 million) when it is auctioned off. The penny was erroneously made of bronze instead of zinc-coated steel at the San Francisco Mint, according to UPI news agency. However, some bronze planchets left over from 1942 slipped into the production process. Update: In January 2019, a rare 1943 copper penny was sold at Heritage Auctions for $204,000. In this instance, coin experts believe that planchets from the previous year (1942) which were made of bronze were still lingering in the production process. This copper penny was suppose to be a 1943 steel. A 1943 Lincoln penny that soared in value because it was made from the "wrong" material reportedly has sold for $1 million. As he held it he reminisced about the 1943 'copper' Lincoln cent he found in change when he was a youngster, but that turned out to be a fake," said Sperber. Only one is known to exist. September 21, 2012 Million Dollar Penny: Rare 1943 Lincoln Penny Purchased For $1 Million As an added bonus Iâm also adding an authentic $1 million dollar bill. 1943 Steel Pennies . According to a press release, it was successfully acquired by Legend after "determined negotiations" with an East Coast dealer representing the seller who is described only as "a long-time collector," according to Legend President Laura Sperber. All rights reserved. During World War II, copper was needed for the war effort, and the copper penny was converted to steel. In August, a dime from 1873 fetched $1.84 million at auction. Only 40 of these coins are known to be in existence. New Dollar Wallpaper HD. The million dollar penny. PCGS. See that if you flip the penny bottom to top the opposite side is perfectly lined upside down. This copper penny was suppose to be a 1943 steel. The $1.84 million price tag included a 15 percent buyer's fee. This penny is a real 1943 D copper penny. The winning bidder was Tom Caldwell of Concord, Massachusetts. Since Lincoln cents are one of the most collected United States coins, demand for them is extensive. 1943 Copper Penny - Is Yours Genuine or Fake? Although it cannot be proven, another explanation for this error coin is that a mint employee purposefully struck a few 1943 pennies on bronze planchets. James Bucki has over 40 years of coin collecting experience, receiving specialized training in coin grading, minting errors, and collecting techniques. $1.7 million paid for the unique 1943-D bronze Lincoln cent. All these signs of proof are of this penny. Texas Rangers co-chairman Bob R. Simpson bought the coin from Legend Numismatics, a rare coin dealer in Lincroft, N.J. Professional Coin Grading Service, an organization that evaluates and grades rare coins, certified the penny in question, grading it a 62 on a scale of 1 to 70. small cents, with one example having sold for a cool $1 million at an auction in . A rare penny is worth a lot more than one cent. In 2010, a coin collector sold a Denver-minted bronze penny for $1.7 million! A Massachusetts man first found it in his school lunch change as a teenager 71 years ago. These error coins are extremely rare and highly sought after by error coin collectors. Buyer: Bob R. Simpson, co-chairman of the Texas Rangers baseball club, who needed the coin to complete his PDS set of bronze cents dated 1943. There are only a few of these known to exist, although there are many, many counterfeits out there. In September 2012, Legend Numismatics of Lincroft, New Jersey has announced that collector Bob R. Simpson, co-chairman of the Texas Rangers baseball club, paid $1 million for the finest known 1943-S Lincoln Wheat cent on a bronze planchet. "The Simpson collection now contains the finest known bronze cent from each mint, Philadelphia, San Francisco and Denver, including the unique 1943-D bronze cent that PCGS certified after Legend acquired and sold to him for a record $1.7 million in 2010," Willis said. In 1942, copper was being heavily rationed by the U.S. government for the use of ammunition. The 1943 copper penny is a one million dollar penny! All 1943 Lincoln cents were supposed to be made of steel planchets coated with zinc. Updated: January 13, 2020 $100 in 1943 is equivalent in purchasing power to about $1,505.63 today, an increase of $1,405.63 over 78 years. While they pay close attention to the process to achieve world-class quality, some mistakes do happen. it sold for 1.7 MILLION dollars in 2010. Much activity goes on in these facilities that enable them to produce billions of coins every year. with one example having sold for a cool $1 million at an auction in 2012. UPI.com reports that Bob Simpson, ⦠Each production facilities of the United States Mint is a factory that produces coins for the United States of America. The MS62 coin is the finest of four known 1943-S bronze cents, and it is an upgrade to an example graded PCGS AU58 that was in Simpson's registry set. small cents, with one example having sold for a cool $1 million at an auction in . Turn on desktop notifications for breaking news? Most pennies are worth just one cent, but some pennies are ⦠He also has a complete set of 1944 zinc-coated steel ⦠The 1943 copper penny is a one million dollar penny! Million Dollar Penny: Rare 1943 Lincoln Penny Purchased For $1 Million In August, a dime from 1873 fetched $1.84 million at auction.
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