Have you ever wished you could get rich? There was probably a lottery win, the death of a rich great-aunt, or even a bank robbery. That being said, what if your wish came true with just one cent?
Even though it might seem like a crazy financial dream, rare coins really do exist. You might not be able to buy a single piece of gum with a small coin anymore, but Lincoln cents are still important, and even better, they can be used right now. Which brings up the question of what this metal unicorn is.
The Lincoln cent in question is a metal 1943-D penny. Because of strict war rationing in 1943, U.S. pennies were meant to be made from zinc-coated steel instead of copper, which was too valuable and would be used in the war. But by mistake, some pennies were made with metal planchets that were left over from 1942. Because of this, this cent with the mintmark “D” (from Denver) was one of the few coins made in metal during that time of war.
People who collect coins think it is very valuable because it is very rare and was made that way by mistake. So far in 2024, people who are really into old money have only found less than 20 coins, which makes them even more valuable.
A very rare 1943 Lincoln cent in great shape was sold for a huge $1.7 million. In 2010, this private sale took place. Legend Numismatics, which is one of the best places in the US to buy and sell rare coins, was the seller. Legend Numismatics, which is based in Lincroft, New Jersey, was able to sell the scarce Lincoln cent to a buyer who was only named as a business executive from the South West. In his will, the former owner said that any money made from the sale would go to charity.
Other than this record-breaking sale, $204,000 has been paid for other 1943 metal Lincoln cents. In January 2019, this deal took place. It was put on by Heritage Auctions, which is one of the biggest and best sale houses in the world for collecting things. This Dallas, Texas-based sale house, which has been around since 1976, was able to sell Don Jutes’ (not Don Juan’s) valuable coin. But who was this well-known coin collector?
Who found the Lincoln coin made of bronze?
Don Lutes Jr. was from Pittsfield, Massachusetts, and had been collecting things for a long time. His discovery of the coin happened in 1947, when it was given to him as change when he bought lunch at high school. The 16-year-old student kept the cent and tried to check that it was real, but there was no Internet at the time, and the U.S. Mint flatly denied having made any money out of valuable materials by accident.
This Lincoln penny was kept by Don Lutes for over 70 years. The coin was put up for sale after he died in September 2018. The $204,000 that was raised at the 2019 sale was given to the Berkshire Athenaeum, which is the open public library in Pittsfield where Lutes was born and raised.
Some coin collectors keep their rare coins and leave them to charity when they die. But we can all dream of finding a penny on the street that will turn us into riches. How do we know if this or that penny is the real deal, though?
How to tell a bronze Lincoln cent apart
A simple magnet test can help you figure out if you have a rare 1943 bronze Lincoln cent. The metal penny will not stick to the magnet. Since 1943, most coins have been made from steel that has been zinc-coated and is magnetic. If your coin can be magnetized, it’s not the rare metal one. Also, the steel pennies are more silver in color than the copper pennies that are hard to find or the rare bronze pennies.
If you want to be more sure, you can weigh the coin. A real 1943 brass cent weighs about 3.11 grams, while a steel penny weighs only about 2.7 grams. There are many fake coins out there, so if you think you have one of these rare coins, it’s best to have a professional check it out.
Make sure to check the sidewalk every time you go for a walk now that you know it’s there. You never know, you might find the best and most valuable penny ever!
FAQ
Q1: What makes the 1943-D Lincoln cent so valuable?
A: The 1943-D Lincoln cent is valuable because it was mistakenly made from bronze instead of the zinc-coated steel that pennies were supposed to be made from during World War II. This makes it a rare error coin, and collectors value it highly due to its scarcity and historical significance.
Q2: How many 1943 bronze Lincoln cents have been found?
A: As of 2024, fewer than 20 of these rare coins have been discovered. This extreme rarity increases the value and demand for the 1943 bronze Lincoln cent among collectors.
Q3: How much has the rare 1943 bronze Lincoln cent sold for?
A: One of the most valuable 1943-D bronze Lincoln cents sold for $1.7 million in a private sale in 2010. Another example was sold for $204,000 at a 2019 auction organized by Heritage Auctions.
Q4: Who discovered one of the rare 1943 bronze Lincoln cents?
A: Don Lutes Jr., a collector from Pittsfield, Massachusetts, discovered his bronze Lincoln cent in 1947 when he received it as change in high school. He held onto the coin for over 70 years before it was sold at auction after his death in 2018.
Q5: How can I tell if I have a rare 1943 bronze Lincoln cent?
A: You can use a simple magnet test to see if your penny is rare. If it doesn’t stick to a magnet, it might be a bronze cent. Most pennies from 1943 were made of zinc-coated steel, which is magnetic. You can also weigh the coin: a genuine bronze 1943 penny weighs about 3.11 grams, while a steel one weighs about 2.7 grams.
Q6: What should I do if I think I have a rare 1943 Lincoln cent?
A: If you suspect you have a rare 1943 bronze Lincoln cent, it’s important to have it professionally authenticated and appraised by a reputable coin expert to ensure its authenticity and value.
Q7: Why were pennies made from steel in 1943?
A: In 1943, the U.S. Mint made pennies from zinc-coated steel instead of copper to conserve copper for the war effort during World War II. However, a few leftover copper planchets from 1942 were mistakenly used, resulting in the rare bronze Lincoln cents.
Q8: Where were the 1943 bronze Lincoln cents minted?
A: The 1943 bronze Lincoln cents were minted in several locations, but the “D” mintmark on some of these coins indicates that they were struck at the Denver Mint.
Q9: Can I still find rare pennies like the 1943 bronze Lincoln cent today?
A: Yes, although extremely rare, these coins can still be found. It’s worth checking your spare change or collections for rare coins, as you might stumble upon a valuable piece like the 1943 bronze Lincoln cent.
Q10: What should I do if I find an old penny on the street?
A: Always check your coins! You never know when you might come across a rare penny like the 1943 bronze Lincoln cent. If you find an old coin, especially from 1943, consider having it evaluated by a coin professional.
Now that you know more about this rare coin, keep an eye out for any unusual pennies in your pocket change—you might be holding a small fortune!
