This penny is worth a lot. Make sure you know how to recognize it!

Do you know how to recognize this penny? Coins are one of those hidden items that can occasionally be worth far more than their face value. And most recently, news outlets have reported that this coin is worth a good penny!

According to Coin Trackers, the New York Post, KHOU, and the Daily Mail UK, a mint condition 1943 copper wheat cent might fetch more than $85,000! KHOU, in conversation with Royal Coin and Jewelry, a rare coin dealer in Houston, revealed that they constructed 1943 pennies from steel and zinc-plated them to prevent corrosion. Coin Week stated that they planned to strike all 1943 cents on zinc-coated steel planchets due to the need for copper for World War II purposes.

However, the minting process introduced a few copper blanks during that year, and these “mistake” coins are currently selling for amounts in the five and six figures. As previously stated, these 1943 copper wheat pennies must be in pristine condition to be worth almost $85,000. However, even in less favorable situations, they have been selling for an average of $60,000 (according to Coin Tracker). Saul Teichman, an expert on U.S. Mint faults, discusses (via Coin Week) how collectors push up the coin’s value.

“Collectors place a premium on 1943 copper pennies. In terms of market value, 1943 cents are worth far more than other blunders made about the same period.” Many other World War II errors are rarer than 1943 copper or 1944 steel cents, but they bring a fraction of the price because they lack that special cachet.”

According to media reports, coin collectors should be wary of 1943 copper wheat penny dupes.

Due to the increased attention these pennies have received, counterfeits are flooding the market. According to Coin Trackers, many fraudsters will file off the left side of the number 8 on a 1948 copper penny to make it appear to be a genuine 1943 coin. Others will coat ordinary steel pennies with copper to make them seem authentic. If you’re concerned about a counterfeit coin, Coin Trackers recommends using a magnet to examine it.

According to the Daily Mail UK, “A solid copper penny will not stick to a magnet, while a steel penny with copper plating will.” So, what are you waiting for? Browse your collection—you may find a lucky penny! Please share this with your friends and family.

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