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What is the most valuable penny on the dollar: it weighs 3 grams, it looks like any other coin but is worth about $ 2 million

The most coveted Lincoln penny
The most coveted Lincoln penny

The apparently more common coins can be worth much more than the one engraved on their back, or even several times more than the metal in which they were struck. Errors in manufacturing, the existence of few copies, other details may explain why the collector’s value makes anyone who carries one of these coins in their pocket a millionaire. And when it comes to US dollars, perhaps no other coin represents the difference between size and resale value like the 1943 bronze penny. It is Lincoln’s “penny,” as the most valuable 1 cent coin is called..

In this case, it is believed that the coin was born by mistake. Accidents can produce the rarest coins. When the United States switched from bronze alloy to zinc plated steel pennies in 1943, only a relative handful of bronze pennies slipped through and ended up being produced. It is estimated that each of the Philadelphia and San Francisco mints issued fewer than 20 in total. AND today the exact whereabouts of just one of them is known: the rest remain lost, probably in the hands of someone who does not know the fortune in hand.

In 1943, during World War II, the United States Mint struck zinc-coated steel pennies to help conserve the copper and tin needed to arm American troops fighting in Europe and Japan.

The copy sold in 2010 for which USD 1,700,000 was paid
The copy sold in 2010 for which USD 1,700,000 was paid

Authorized by a 1942 law that temporarily changed the composition of Lincoln pennies, in 1943 the Mint struck more than a billion of these steel pennies that became known as “steelies.”

Although these coins are a collector’s favorite – especially the fine specimens that have not deteriorated like millions others – it is the rare coin struck that year with the original metal composition that has truly captivated collectors’ imaginations for decades. A few, the cause is not well known, were struck in the traditional alloy prior to war rationing.

That year a tiny number of pennies were struck by mistake on the copper dies that had been used previously. These coins are believed to have been made because some of the copper plates from the previous year had been left in the hoppers when the steel pennies were being made. Or that he deliberately erred.

The coin weighs just 3.11 grams and the value of the metal used to mint it is estimated at just 2.8 cents. But its auction value could exceed $ 2 million

Widely advertised since the 1940s, These rare copper pennies immediately became the object of attention from both collectors and the general public, leading to decades of searching for penny rolls. hoping to find these rare coins that could be worth a fortune.

At present, a total of 27 copper coins from 1943 that have been classified have been confirmed, including six from the 1943-S series, as well as the single 1943-D series. Seven of the 27 have been rated by PCGS and 13 by NGC, two references in the world of numismatics.

The coin It weighs just 3.11 grams and the value of the metal used to mint it is estimated at just 2.8 cents. But its auction value could exceed $ 2 million.

The PCGS website quotes one of John Wexler and Kevin Flynn with a hypothesis regarding the birth of this coin.

“This specimen traces its origins to a coin deliberately made, probably by John R. Sinnock, chief engraver of the US Mint.”

“The 1943-D bronze penny was owned by a former Denver Mint employee who is believed to have minted it. This coin has the strongest hit of any 1943 bronze penny. It is speculated that the person hand inserted a bronze planchet into the minting press, struck it twice to bring up the design, and then put it away. There are zinc shards on both the front and back, which means that the dies were used to first mint the normal 1943 zinc-coated steel pennies. The coin was kept secret for years. After the death of this person, the coin was given to one of his sons, who in 1996 consigned it to the Superior Galleries for auction. The coin was examined by the ANACS in 1979 and declared “authentic”. In 1996, it was submitted to NGC, where it was rated MS64BN. Since then it has been certified by PCGS as MS64BN. This coin recently sold for $ 212,750, the second highest price ever paid for a Lincoln penny. “

In a contradictory story, Sol Taylor wrote the following in the 2008 book “Making Cents.”

“Finally a specimen of the 1943-D penny in bronze is known. This specimen traces its origins to a coin deliberately made probably by John R. Sinnock, chief engraver of the US Mint at the time, as it was later discovered in the inheritance of a woman Sinnock dated in the 1940s, when they both lived in the small town of North Tonawanda, NY “

The record price for a 1943 copper penny is the 2010 sale of the only 1943-D coin, rated by PCGS MS64 Brown, for $ 1,750,000.

That same coin sold for $ 212,750 in a 2003 sale by Goldberg Auctioneers, a price increase of nearly 1,000% in just seven years. And today it could be worth more.

The USD Coin Book site estimates that the current price, if it were to go up for auction again, would be around USD 2,196,797, making it the most valuable penny.

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HELEN HERNANDEZ

Helen Hernandez is our best writer. Helen writes about social news and celebrity gossip. She loves watching movies since childhood. Email: Helen@oicanadian.com Phone : +1 281-333-2229

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