You probably have a jar of old coins sitting on a dresser. Most of us do. Usually, it's just a collection of sticky zinc pennies and maybe a stray button, but there is one specific coin that keeps people digging through their floor mats and checking the "take a penny" trays at gas stations. It’s the legendary 1943 bronze cent. Honestly, most people asking what is a 1943 copper penny worth are going to be disappointed, but if you actually find a real one? You're looking at a life-changing amount of money. We’re talking six figures. Sometimes more.
But here is the catch: 1943 pennies are supposed to be gray.
In 1943, the United States was deep in the middle of World War II. Copper was a "strategic metal," meaning the military needed every scrap of it for shell casings and communications wiring. To save copper for the war effort, the U.S. Mint stopped making copper pennies and switched to zinc-coated steel. That’s why almost every 1943 penny you see looks like a dirty dime or a silver coin. They are common. They are worth maybe a few cents to a few dollars depending on their condition. But a handful of copper planchets (the blank metal disks used to make coins) were left over in the bins from 1942. They got struck with the 1943 date. Those are the accidents. Those are the treasures.
The Real Price Tag: What is a 1943 Copper Penny Worth?
Let’s get straight to the numbers because that’s what everyone cares about. If you have a genuine 1943 copper penny, you aren't looking for pocket change. You’re looking for a house. In 2010, a 1943-D (Denver Mint) copper penny sold for a staggering $1.7 million. That is an outlier, sure, but even the "cheaper" ones sold at auction usually clear $100,000 easily.
Why the massive range? It comes down to the mint mark and the grade.
The Philadelphia Mint didn't use a mint mark back then, so a plain 1943 copper penny is rare. The San Francisco Mint (marked with an 'S') is even rarer. But that Denver 'D' copper penny? It’s believed to be the only one in existence. That is why it hit seven figures. Most experts, including the folks at Professional Coin Grading Service (PCGS) and Numismatic Guaranty Company (NGC), estimate that only about 20 to 40 of these copper errors were ever produced across all mints.
Recent Auction Reality
Take a look at the Heritage Auctions records. A 1943 cent struck on a bronze-alloy planchet, graded AU58 (About Uncirculated) by PCGS, sold for roughly $218,500. Another one in slightly worse shape might still fetch $150,000. Even a "low grade" authentic 1943 copper penny, one that’s been banged up or circulated in someone's pocket for a decade before being found, is still going to be worth more than a brand-new luxury car. It is the definition of a "blue chip" collectible.
How to Tell if Yours is Real (Spoiler: It’s Probably Not)
I hate to be the bearer of bad news. Truly. But 99.9% of the "copper" 1943 pennies people find are fakes. Back in the 1940s and 50s, when people realized these errors were worth money, scammers started making their own. There are two main ways they do it. First, they take a regular 1943 steel penny and plate it in copper. It looks convincing to the naked eye. Second, they take a 1948 penny and carefully shave the left side of the "8" to make it look like a "3."
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Luckily, you don't need a degree in metallurgy to debunk a fake. You just need a magnet and a kitchen scale.
The Magnet Test
This is the fastest way to crush your dreams or spark a heart attack. If you hold a magnet up to a 1943 penny and it sticks, it’s steel. It might look like copper, but that’s just a thin coating. A real 1943 copper penny will not stick to a magnet. If your coin stays on the table when the magnet passes over it, you’ve passed the first hurdle.
The Weight Test
If it passes the magnet test, you need a digital scale that measures in grams.
- A steel penny (the common one) weighs about 2.7 grams.
- A real copper penny (the rare error) weighs about 3.11 grams.
If your coin weighs 3.1 grams and doesn't stick to a magnet, you should probably stop touching it with your bare hands and put it in a protective plastic flip immediately.
The Lure of the Steel Cent
Since we’ve established that the copper ones are basically unicorns, what about the gray ones? People often see a "silver" penny and think they’ve struck oil. These 1943 steel cents are fascinating pieces of history, but they aren't going to fund your retirement.
During the war, the public actually hated them. They looked too much like dimes, which led to people accidentally overpaying for things. They also rusted. Since they were made of steel with a thin zinc coating, once that zinc wore off, the steel underneath would oxidize. If you find one in a jar today, it’s probably dark, crusty, and worth about 10 to 25 cents.
However, if you happen to find a 1943 steel penny that looks like it just came off the press—shiny, no scratches, original luster—you might get $10 to $50 for it. There is one exception: the 1944 steel penny. Just as copper blanks were left over in 1943, steel blanks were left over in 1944. A 1944 steel penny is the "reverse" error and is also worth tens of thousands of dollars.
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Why Collectors Are Obsessed
Numismatics (the study of coins) isn't just about the money. It's about the "oops" factor. The 1943 copper penny is the ultimate mistake. Think about the chaos of a mint in wartime. Workers were under pressure, the metal supplies were changing, and the machinery was running hot. Someone, somewhere, didn't clear out the hopper properly.
That human error created a legend.
Collectors like Stewart Blay or the late Bob R. Simpson spent years hunting for the finest known examples of these errors. For them, it’s about completing a set that shouldn't exist. When you ask what is a 1943 copper penny worth, you’re asking about the value of a specific moment in American industrial history where the gears slipped.
The Famous "Lutes" Penny
One of the most famous stories involves a teenager named Don Lutes Jr. In 1947, he found a 1943 copper penny in his high school cafeteria change. He heard rumors they were valuable, but when he contacted the Treasury, they flatly told him "all 1943 pennies were made of steel." They basically called him a liar. He kept the coin anyway. It wasn't until decades later that the coin was authenticated. When Lutes passed away, his coin was sold at auction in 2019 for over $200,000. That’s a lot of cafeteria lunches.
Is It Even Worth Looking?
Honestly? Yes. People still find rare coins in circulation. It’s becoming harder as we move toward a cashless society, but estate sales, old jars of change, and coin rolls from the bank still hold secrets. The odds are astronomical, but someone has to own those 40-ish coins.
If you think you have one, do not try to "clean" it. That is the number one mistake beginners make. They think a shiny coin is worth more, so they use polish or vinegar. Do not do this. Cleaning a coin destroys its "numismatic surface" and can cut the value by 90% or more. Collectors want the original patina, even if it’s a bit brown or dull.
Where to go for Authentication
If your coin passed the magnet and weight tests, your next step is a local coin shop. But don't just go to a "We Buy Gold" place. Find a reputable dealer who is a member of the American Numismatic Association (ANA). They can give you an informal opinion. If they think it’s real, they will help you send it to PCGS or NGC for official grading. This process costs money—usually around $50 to $150 plus insurance—but it’s a necessary investment to prove the coin's authenticity. Without that plastic "slab" from a grading service, no serious collector will touch it.
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Actionable Steps for the Aspiring Coin Hunter
If you're now staring at a pile of pennies, here is exactly how to handle it without wasting your time.
First, buy a cheap Neodymium magnet. Standard refrigerator magnets are often too weak to pick up a plated coin. You want something with a bit of pull.
Second, get a jeweler's loupe. You need to look at the date under 10x magnification. Look for signs of "tooling" around the number 3. If the metal looks scratched or smoothed out specifically around the date, someone likely altered a 1948 penny.
Third, check the 1944 pennies too. Remember, if it's 1944 and it looks silver/gray, it’s the steel error. It’s basically the twin sister to the 1943 copper error.
Finally, manage your expectations. The hunt is the fun part. Most people will never see a 1943 copper penny in person, let alone own one. But the fact that they could be anywhere—in a box of your grandpa's old things or tucked behind a drawer—is what keeps the hobby alive.
If you find a gray 1943 penny, keep it anyway. It's a piece of World War II history you can hold in your hand. It tells a story of a time when the country had to sacrifice everything, even the copper in its pockets, to win a war. That historical value might only be worth 15 cents at a shop, but as a conversation piece? It's priceless.
For those who are serious, keep an eye on auction houses like Stack's Bowers or Heritage. Watching these coins move through the market is the best way to understand the current "melt value" versus "collector value." The market for high-end rarities is surprisingly volatile, and prices can swing by tens of thousands of dollars based on the mood of a few wealthy bidders.
Next Steps for You:
- Locate any 1943-dated pennies in your possession.
- Perform the "Magnet Test"—if it sticks, it’s a common steel cent.
- If it doesn’t stick, use a gram scale to verify a weight of approximately 3.11 grams.
- If both tests pass, consult a member of the Professional Numismatists Guild (PNG) for a professional appraisal.