If You Find One Of These Pennies, You're An Instant Millionaire | Elvis Duran and the Morning Show (2024)
They say that if you see a penny on the sidewalk and it's heads-up to pick it up because it's good luck, but if it is one penny in particular, good luck would be an understatement. It turns out there are some one-cent coins out there that are actually worth seven-figures, and you just might have one of them at the bottom of your change jar or stuffed in between your couch cushions.
The penny is an older one, from 1943, the kind that says "One Cent" on the back with two stalks of wheat. That year, pennies were made from steel so copper could be used to make shell casings and weapons for World War II. However, according to a TikTok video from The Coin Guy, due to a mistake at the mint, some of the 1943 pennies were made with copper, and those are the ones to look for.
One such coin sold last year for $840,000, but is now worth $1,050,000.
To tell if your 1943 penny is worth a mil, put a magnet over it. If it sticks to the magnet, it is steel, but still worth anywhere between 20 cents and $20. However, if it doesn't stick to the magnet, you might be in for a windfall.
In 1943 the government made nearly a billion cents made from zinc plated steel and ALL of these steel cents are magnetic. Depending on mintmark and condition they would have a RETAIL value from around 5 cents to $10 each. MOST of the ones you see will be in the 5 to 15 cent range.
One reason these coins are so valuable has to do with what they are made of. As GOBankingRates previously reported, any penny minted before 1982 contains 95% copper. Copper pennies are a relatively common find in a penny roll, which lowers their value.
One of the rarest pennies cost a Beverly Hills man a pretty penny. At an auction last Thursday, Kevin Lipton shelled out $2,585,000 for the Birch Cent, a penny made in 1792 that is named after its engraver, Robert Birch. It's the most money ever paid for a one-cent piece.
This was clearly due to an increased demand for copper during WWII. Due to rusting issues, the minting of these steel coins was terminated almost as soon as it began. The reason why a 1944 zinc-coated steel penny carries such high value is that the US Mint produced no more than twenty to forty of such pennies.
According to the NGC Price Guide, as of September 2024, a Wheat Penny from 1944 in circulated condition is worth between $35000 and $43500. However, on the open market 1944 STEEL Pennies in pristine, uncirculated condition sell for as much as $175000.
The easiest way to determine whether or not your 1943 Cent has collectible value—to see if it is possibly bronze rather than steel—is simply to test it with a magnet. If the coin is magnetic, then it is, unfortunately, the common steel version and is not valuable in most cases.
Which 1943 penny is worth $1000000? The 1943 penny that is worth $1000000 is the one that was mistakenly made out of copper instead of zinc-coated steel. Only a few of these pennies were produced and they are extremely rare, making them highly valuable to collectors.
A 1958-dated Lincoln cent mistakenly made with doubling in some letters of the design has sold for a record $1,136,250. It was owned by a New York City collector who died soon after consigning his pristine condition coins to be sold at auction. He spent his life procuring the absolute best-of-the-best Lincoln cents...
The CoinValue website calls this the “rarest and most valuable wheat penny with an error.” It holds the record for the most expensive sale among wheat pennies at $1.7 million, though it is valued at $2.3 million in uncirculated mint condition.
Introduction: My name is Nathanael Baumbach, I am a fantastic, nice, victorious, brave, healthy, cute, glorious person who loves writing and wants to share my knowledge and understanding with you.
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