1943 Steel Penny Coin Value Lookup
The 1943 steel penny, also known as the “Steelie,” is one of the most talked-about coins in American numismatics. Although not the rarest, its unique composition and wartime history make it highly collectible. The most valuable example of this coin isn’t from 1943 at all—but from 1944, when a steel penny accidentally minted in San Francisco fetched $408,000 at auction.
Despite their abundance, 1943 steel pennies can be valuable depending on condition, mint mark, and rarity of errors. Let’s break down the details.
Why Steel Pennies Were Minted in 1943
The decision to use steel coated with zinc instead of copper was made during World War II, when copper was needed for ammunition.
- The result was a shiny, silver-colored penny that stood out from previous bronze cents.
- Unfortunately, these coins often rusted and confused vending machines, leading to complaints and their removal after just one year of production.
Though a temporary solution, the 1943 steel penny left a lasting mark on collectors.
1943 Steel Penny Value Chart Overview
Here’s a quick reference on the market value of 1943 steel pennies based on their condition and mint mark (from Coin Value Checker):
| Condition | 1943 (No mint mark) | 1943 D | 1943 D RPM | 1943 S |
|---|---|---|---|---|
| Good | $0.17 | $0.23 | $17 | $0.28 |
| Very Good | $0.23 | $0.34 | $28 | $0.34 |
| Fine | $0.34 | $0.40 | $46 | $0.46 |
| Very Fine | $0.40 | $0.46 | $57 | $0.75 |
| Extra Fine | $0.46 | $0.57 | $68 | $0.87 |
| About Unc. | $0.57 | $0.87 | $81 | $1.16 |
| MS 60 | $2.88 | $3.38 | $115 | $6.81 |
| MS 65 | $9.35 | $11 | $1,161 | $23 |
Coins with rare errors or high mint grades often exceed these ranges significantly.
1943 No Mint Mark Steel Penny Value
Minted in Philadelphia, this version saw a production of over 684 million coins.
- These are still common in circulation, making circulated pieces worth $0.13 to $0.30.
- Uncirculated versions (MS 60–65) range from $2.88 to $9.35.
- MS 66 to MS 68 specimens are far more valuable, selling between $60 and $3,600 depending on the exact grade.
1943 D Steel Penny Value
The Denver Mint produced approximately 217 million steel pennies in 1943.
- These coins are widely available, with circulated coins valued at $0.13 to $0.60.
- In mint condition, they start around $3.38 and go up to $230 for MS 67 pieces.
- MS 68 examples can command between $1,800 and $2,500.
1943 S Steel Penny Value
Produced at the San Francisco Mint, this version had a mintage of about 191 million coins.
- Circulated coins typically sell for under $1, while mint-state coins begin at around $1.50.
- High-grade coins (MS 67) can reach up to $275, and rarer MS 68 coins may fetch over $3,000.
Notable 1943 Steel Penny Errors and Varieties
Collectors are especially drawn to error coins, some of which fetch thousands at auction:
- 1943 D/D RPM (Repunched Mintmark): Valued from $260 in MS 60 up to $12,000 in MS 67.
- 1943 Bronze Penny: Only a few were mistakenly struck in copper, with sales as high as $840,000.
- Wrong Coating: Rare bronze-coated 1943 steel pennies are highly valuable.
- Doubled Die (DDO/DDR): Coins with doubled features can range from a few hundred to over $10,000, depending on clarity and grade.
- Overdate Error (1943/2 S): Highly collectible; one such coin sold for $10,000 in 2022.
What Makes a 1943 Steel Penny Rare?
While most 1943 steel pennies are common, certain features make them rare:
- High-grade examples in MS 67 or above
- Minting errors like RPMs, double dies, or wrong metal compositions
- Bronze variations, especially from the Denver or San Francisco mints
Highest Recorded Auction Prices for 1943 Steel Pennies
Some noteworthy sales that stand out:
- 1943 AU58 Steel Penny – $218,500 (2010)
- 1943 S AU58 Steel Penny – $138,000 (2004)
- 1943 D/D MS67 Steel Penny – $21,275 (2011)
- 1943/2 S MS67 Steel Penny (DDO) – $10,000 (2022)
These records prove that rare errors and perfect grades can dramatically increase a coin’s worth.
Features of the 1943 Steel Penny
Obverse Design:
- Depicts Abraham Lincoln’s profile, designed by Victor D. Brenner.
- Features standard inscriptions: IN GOD WE TRUST, LIBERTY, and the minting year.
Reverse Design:
- Known as the Wheat Reverse, with two stalks flanking the text ONE CENT and UNITED STATES OF AMERICA.
- Includes the national motto E·PLURIBUS·UNUM along the top rim.
Metal Composition:
- 99% steel with a zinc coating, weighing 2.7 grams.
- Diameter: 19.05 mm
- Thickness: 1.55 mm
Grading the 1943 Steel Penny
Grading is based on the Sheldon 70-point scale.
- Most casual collectors may struggle with grading, which is why experts recommend professional evaluation by certified agencies like PCGS, NGC, or ANACS.
- Grading greatly affects market value, especially for coins with rare errors or high demand.
Conclusion
The 1943 steel penny stands as a wartime relic and an affordable entry point for new collectors.
- While most are only worth a few cents to a few dollars, high-grade or error coins can be worth thousands.
- To determine a coin’s true value, always refer to updated resources like Coin Value Lookup, and consider professional grading for rare finds.
Whether you’re checking grandpa’s old change jar or building a serious collection, the 1943 steel penny is a piece of American history worth knowing.
