Most people today won’t make the effort to pick up a penny when they spot one on a sidewalk or street. Well, here is why that could be a mistake. A 1943 Lincoln penny recently sold in auction for a whopping $1.7 million! The wartime penny is valuable for two reasons; it was mistakenly created and there are only 40 examples known to exist! The story goes that during World War ll, it was decided to conserve copper by minting pennies out of zinc-coated steel. Apparently some copper-alloy blanks were mistakenly left in the press hopper and an estimated 40 (only 12 are accounted for) 1943 copper pennies were unknowingly produced and released to the public. The rarity and value of the penny unfortunately makes it a favorite among counterfeiters looking to make a dishonest buck. By coating steel pennies with copper as well as altering the dates of 1945, 1948 and 1949 cents, counterfeiters have deceived and given false hope to many unsuspecting buyers. Actually, identifying a fake is very simple. All you need is a magnet and a scale. If your 1943 penny is attracted to the magnet, it is not copper! Also, copper cents weigh 3.11 grams, steel cents only 2.70 grams.
DJR Authentication is one of the nation's premier appraisers, authenticators, and buyers of jewelry, coins, collectibles, art, sports memorabilia, and other fine goods, located in Mt Pleasant, South Carolina.