Best answer: Are magnetic pennies worth anything?

The US Mint responded by using zinc-coated steel to produce cents for change. … If the coin is magnetic, then it is, unfortunately, the common steel version and is not valuable in most cases. However, if your 1943 Cent does NOT stick to a magnet, this coin may possibly be genuine and should be researched further.

Which Pennies are magnetic?

Pennies are made up of 97.5% zinc and 2.5% copper, and neither of those two metals are magnetic. You should be able to remove the magnet without any of those pennies sticking to it.

What does it mean if a penny sticks to a magnet?

The easiest way to determine if a 1943 cent is made of steel, and not copper, is to use a magnet. If it sticks to the magnet, it is not copper. If it does not stick, the coin might be of copper and should be authenticated by an expert.

What year of pennies are worth money?

While the original edition pennies from 1909 can have significant collectable value, other editions of the Lincoln penny can be highly desired by coin collectors as well. A 1933-D, for example, may be valued at $2.30 or more. A 1931-S could be worth $40 or more.

IT IS INTERESTING:  Can a magnet pick up iron from cereal?

How much is a 1943 magnetic penny worth?

They are worth about 10 to 13 cents each in circulated condition, and as much as 50 cents or more if uncirculated.

Why is a 1943 penny so valuable?

Eventually, they decided to use steel to make the pennies in 1943. … About 40 copper pennies were struck in 1943. One possible reason for this is because the copper plates were accidentally left in a few machines. While the 1943 steel pennies are worth a few bucks, the rare copper version is worth more.

What year penny is worth $1000000?

1943

How do you clean old pennies without devaluing them?

Gently rinse the coin with distilled water. Pour distilled water over the surface of both sides of the coin. Or, set the coins in a shallow bowl of distilled water, and let them sit for a few minutes. Note: It’s crucial not to use tap water, since the chemicals and fluoride found in tap water could damage your coin.

What makes a 1943 steel penny rare?

The Rare 1943 Penny

The reason is that the 1943 copper penny is an error coin. The United States Mint accidentally used the wrong kind of planchet metal when striking the coin. But very, very few of these left the U.S. Mint facilities.

What can you do with old pennies?

To help you combat the penny problem, here are some strategies for spending them, plus ways to put them to creative use.

  1. DEPOSIT THEM AT THE BANK. …
  2. TAKE THEM TO A COINSTAR MACHINE. …
  3. MAKE A COLD COMPRESS. …
  4. CREATE DIY DRAPERY WEIGHTS. …
  5. SEPARATE THEM INTO DENOMINATIONS BEFOREHAND TO MAKE SHOPPING EASY. …
  6. DECORATE YOUR FLOORS …
IT IS INTERESTING:  Is Magnetic North shifting?

How much is a 2020 d penny worth?

USA Coin Book Estimated Value of 2020-D Lincoln Shield Penny is Worth $0.32 or more in Uncirculated (MS+) Mint Condition. Click here to Learn How to use Coin Price Charts. Also, click here to Learn About Grading Coins.

What is the value of a 1977 penny?

CoinTrackers.com has estimated the 1977 Lincoln Penny value at an average of 1 cent, one in certified mint state (MS+) could be worth $8.

What year is a penny worth 1 million dollars?

1943 Bronze Lincoln

“The most valuable Lincoln cent sold privately in 2010 for $1.7 million,” said Stone. In order to preserve copper for the war effort, the U.S. Mint switched to making pennies from zinc-coated steel planchets, instead of the usual bronze coin blanks, Stone explained.

How do I know if my 1943 penny is worth anything?

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.

What is the rarest wheat penny?

1943-S copper Lincoln Wheat Penny, $185,000 – The 1943-S copper cent is the one of the most valuable small cents, with one example having sold for a cool $1 million at an auction in 2012.

A magnetic field