Lincoln Wheat Cent: The 1943 Steel Lincoln Wheat Cent is one of the most intriguing coins in American history. Born out of necessity during World War II, this unique penny replaced the usual copper with zinc-coated steel to conserve resources for the war effort. Its distinct silvery appearance, combined with the rare error versions that emerged, has captivated collectors for decades. However, the coin’s popularity also led to a surge in counterfeits, making it crucial for collectors to know how to spot fakes.
In this article, we’ll explore the history of the 1943 Steel Lincoln Wheat Cent, its rare error varieties that can be worth a fortune, and practical tips for identifying counterfeits. Whether you’re a seasoned collector or a curious newcomer, this guide will equip you with everything you need to know about this remarkable coin.
Overview of the 1943 Steel Lincoln Wheat Cent
| Feature | Details |
| Year of Minting | 1943 |
| Composition | Zinc-coated steel |
| Reason for Change | Copper was diverted for military use during WWII |
| Notable Errors | 1943 Copper Cent, 1944 Steel Cent |
| Common Counterfeit | Copper-plated 1943 steel cents |
| Authenticity Tests | Magnet test, weight test |
| Collector Demand | High, especially for error varieties |
Why Was the 1943 Steel Cent Made?
In 1943, the U.S. was in the midst of World War II and facing a significant shortage of copper, which was essential for making ammunition and other military equipment. To address this issue, the U.S. Mint temporarily replaced copper with zinc-coated steel for penny production. This decision gave birth to the 1943 Steel Lincoln Wheat Cent, a coin that looked more like a dime due to its shiny, silvery appearance.
While the steel cents successfully conserved copper, they weren’t without flaws. The zinc coating wore off easily, causing the steel core to rust. Additionally, the coins were often mistaken for dimes, leading to confusion. By 1944, the copper shortage had eased, and the U.S. Mint returned to producing copper pennies. However, the brief run of steel cents had already cemented its place in numismatic history.
The Two Legendary Error Coins: 1943 Copper Cent and 1944 Steel Cent
The unusual circumstances of 1943 gave rise to two of the most sought-after error coins in U.S. history:
- The 1943 Copper Cent Error
By mistake, a few 1943 pennies were struck on leftover copper planchets from 1942 instead of steel. These error coins are exceedingly rare, with only about 20 known to exist today. The scarcity and backstory make them incredibly valuable, with some selling for over $200,000 at auctions.
How to Identify:- Magnet Test: A genuine 1943 copper cent will not stick to a magnet, while steel cents will.
- Weight Test: Copper cents weigh about 3.11 grams, compared to 2.7 grams for steel cents.
- The 1944 Steel Cent Error
In another twist of fate, a few pennies in 1944 were struck on leftover steel planchets from 1943. Like the copper error, these coins are highly prized by collectors due to their rarity. Authentic 1944 steel cents can command prices ranging from $75,000 to $110,000.
How to Identify:- Magnetic Property: Unlike standard copper cents, the steel versions are magnetic.
- Appearance: Look for the distinct silvery color typical of steel cents.
Beware of Counterfeits: Copper-Plated 1943 Steel Cents
The high value of the 1943 copper cent has led to a wave of counterfeits, often created by copper-plating ordinary 1943 steel cents. While they might fool an untrained eye, there are straightforward ways to spot these fakes:
- Magnet Test: Since steel is magnetic, a copper-plated steel cent will stick to a magnet, while an authentic copper cent won’t.
- Weight Check: Steel cents weigh less than copper ones. If a suspected copper cent weighs closer to 2.7 grams, it’s likely a copper-plated fake.
Common Errors Found on 1943 Steel Cents
The production process for the 1943 steel cents wasn’t perfect, leading to some interesting error varieties that collectors love:
- Die Cracks and Chips: The hardness of steel caused the dies to crack more frequently, resulting in visible cracks or chips on some coins. These errors can add a premium to the coin’s value.
- Off-Center Strikes: Coins struck significantly off-center are also collectible, especially when the date is still visible.
How to Safeguard Your 1943 Steel Lincoln Wheat Cents
Collecting 1943 Steel Lincoln Wheat Cents can be rewarding, but preserving them properly is essential. Here are some tips:
- Store Properly: Zinc-coated steel is prone to rust. Keep the coins in dry, airtight containers away from humidity.
- Use Protective Cases: Archival-quality holders or slab cases can prevent damage and corrosion.
- Buy Certified Coins: Purchasing coins graded by reputable services like PCGS or NGC ensures authenticity.
FAQs About the 1943 Steel Lincoln Wheat Cent
Why were 1943 pennies made from steel instead of copper?
How much is a regular 1943 steel cent worth today?
A common 1943 steel cent in circulated condition is worth $0.20 to $0.50, while uncirculated ones can fetch $5 to $20.
How can I tell if my 1943 penny is a rare copper error?
Use a magnet test; if it doesn’t stick and weighs about 3.11 grams, it could be a genuine copper error.
Why do some 1943 steel cents appear rusty?
If the zinc coating wears off, the exposed steel can rust easily.
Are 1944 steel cents valuable?
Yes, due to their rarity, 1944 steel cents can sell for tens of thousands of dollars at auctions.
Final Thoughts
The 1943 Steel Lincoln Wheat Cent is more than just a temporary wartime solution; it’s a captivating piece of American history with a story that continues to intrigue collectors. Its rare errors and the challenge of spotting counterfeits add an extra layer of excitement for numismatists. Whether you’re lucky enough to own one or just learning about its history, this unique coin is a reminder of how even the smallest pieces of currency can tell significant stories.
If you found this article helpful, feel free to share it with fellow coin enthusiasts or explore more about rare coins and collecting tips!
