1943 Steel Penny Value Checker: Errors List, “D”, “S” & No Mint Mark Worth

1943 Steel Penny value ranges from $0.01 face value to $504,000. That record was set by a graded MS-63 example sold at Heritage Auctions in November 2020 — one of only five or six known 1943-S bronze cents ever found. If you think yours might be the rare bronze version rather than steel, upload your coin photo below for a quick value range. You can also scroll down to check recent eBay sales and see what your coin is actually trading for right now.

 

1943 Steel Penny Value By Variety

The 1943 steel penny covers everything from common wartime pocket change to legendary bronze errors worth six figures. If you already know your coin’s grade, jump to the Value Guides section below for exact pricing.

Also Read: Top 100 Most Valuable Modern Pennies Worth Money (1959 – Present)

 

Top 10 Most Valuable 1943 Steel Penny Worth Money

The price gap between 1943’s two penny types is staggering. Common steel pennies — the silvery “war pennies” — trade for $0.20 to $20 depending on condition. The bronze errors? They’re in a completely different universe.

A 1943-D Lincoln bronze cent — the only confirmed example — sold at Heritage Auctions in January 2019 for $504,000 graded PCGS MS64BN. “BN” stands for Brown, the most common color grade on aged copper coins. The other designations are RB (Red-Brown) and RD (Red), with red examples pulling the highest premiums.

Here’s the quick test you need to know: steel pennies stick to magnets and weigh 2.7 grams. Bronze pennies don’t stick and weigh 3.1 grams. Watch out for fakes — people copper-plate steel pennies all the time to mimic the valuable bronze variety. If your coin passes the magnet test, get it authenticated by PCGS or NGC before you get too excited.

Also Read: Lincoln Wheat Penny Value (1909-1958)

 

History Of The 1943 Steel Penny

By 1943, copper was too valuable to put in pennies. The military needed it for shell casings, aircraft wiring, tank components, and communications gear. Every pound of copper going into coins was a pound not going to the front lines.

Congress and the Mint tested a wild range of substitutes before landing on zinc-coated steel. We’re talking tempered glass, lead, manganese alloys, even plastic. Zinc-coated steel won out as the cheapest and most practical option.

The result was a coin made of 99% low-grade steel with 1% zinc — silver-toned instead of the familiar copper brown. But the rollout was a mess. Vending machines used magnets to reject counterfeit steel slugs, and these new pennies were magnetic too. Machines spit them right back out. Worse, people kept confusing them with dimes, losing 9 cents every time they accidentally spent one wrong.

The edges weren’t galvanized either. Moisture hit the exposed steel core and rust started almost immediately. Just carrying one in your pocket on a humid day could start visible corrosion. The public hated them.

After one year, the experiment was over. In 1944, the War Production Board approved reclaiming copper from spent brass cartridge cases collected at military training ranges. These “shell case cents” ran from 1944 through 1946, and then the prewar composition came back for good.

Also Read: Top 100 Rarest Pennies Worth Money (1787 – Present)

 

Is Your 1943 Steel Penny Rare?

Identify the precise composition and rarity status of your specific 1943 penny using our Coin Identifier and Value App‘s specialized wartime cent analysis.

 

Key Features of The 1943 Steel Penny

The 1943 steel penny is the only year Lincoln cents were struck on zinc-coated steel instead of copper. That one-year switch gave the coin some unusual traits: it sticks to magnets, looks silvery-gray, and weighs only 2.7 grams — 13% lighter than a standard copper cent.

These physical differences matter when you’re trying to authenticate one. They’re also what separates a genuine steel cent from a copper-plated fake. Fun fact: the 1943 steel cent is the only regular-issue U.S. coin ever made with zero copper content.

The Obverse Of The 1943 Steel Penny

Flip the coin to the front and you’ll see the same Abraham Lincoln portrait that’s been on pennies since 1909, designed by Victor David Brenner.

Look at the cutoff of Lincoln’s shoulder — you’ll spot Brenner’s initials “V.D.B.” there. They were originally on the reverse, but the public complained they were too prominent. The Mint removed them entirely, then brought them back in 1918 on the obverse where they’ve stayed ever since.

“In God We Trust” sits above Lincoln’s head. “Liberty” is to the left, the date to the right. If there’s a mint mark, it’s below the date — “D” for Denver, “S” for San Francisco. No mint mark means Philadelphia.

The Reverse Of The 1943 Steel Penny

Turn it over and you get the classic “Wheat cent” reverse — two stylized wheat ears flanking the denomination and “UNITED STATES OF AMERICA.” The Latin motto “E Pluribus Unum” (“From the many, one”) arcs along the top rim.

Brenner designed this side too. Nothing about the reverse design changed for 1943. The only difference from any other Wheat cent is that silvery-gray metal staring back at you.

Other Features Of The 1943 Steel Penny

That silver color is the first thing you notice. It comes from the zinc coating over a steel core — a combination never used before or since on a regular U.S. circulating coin.

The steel makes it magnetic. That alone sets it apart from every other regular-issue U.S. coin. It’s also noticeably lighter — 2.7 grams versus 3.11 grams for the bronze cents struck in 1942. A precise digital scale is one of the fastest ways to authenticate these coins.

Also Read: 100 Most Valuable Wheat Pennies Worth Money (1909 to 1958)

 

1943 Steel Penny Mintage & Survival Data

Over 1.09 billion steel cents rolled out of three mints in 1943. The government actually saved money on these — steel was cheaper to mint than bronze. That’s a rare win for the Treasury.

Philadelphia led with 684,628,670 pieces. Denver added 217,660,000 and San Francisco struck 191,550,000. Despite those massive runs, survival rates tell a different story. Philadelphia issues have roughly a 9.93% survival rate — about 68 million coins still around. Denver sits at roughly 21 million survivors.

Then there are the bronze errors. A handful of leftover copper planchets from 1942 got fed into the presses by accident. The ANA considers the 1943 copper cent one of the most sought-after coins in American numismatics. Maybe 40 were struck across all three mints, but only 13 to 22 have been confirmed depending on the facility.

Also Read: 100 Most Valuable Indian Head Penny Coins Worth Money (1859 – 1909)

 

The Easy Way to Know Your 1943 Steel Penny Value 

Your 1943 steel penny could be worth pocket change or thousands. It all depends on grade and zinc coating condition. These wartime coins grade differently than copper — the zinc layer’s integrity drives a lot of the value in uncirculated grades.

Rust or edge corrosion kills value fast. You want to check Lincoln’s hair and beard sharpness, wheat stalk definition, and whether the coin still has original mint brightness or has gone gray. Grading runs from 1 (Poor) to 70 (Perfect Mint State), but surface preservation matters more here than on most coins because steel deteriorates in ways copper never does.

Use our Coin Identifier and Value App to analyze your 1943 penny’s coating condition, detail sharpness, and surface quality instantly through photo recognition. Download the Coin Identifier and Value App now for professional grading and accurate market pricing in seconds.

 

1943 Steel Penny Value Guides

Four main varieties exist for 1943, ranging from common wartime strikes to coins worth more than most cars. Here’s what you need to know about each one.

1943 Steel Penny Types:

• 1943 No Mint Mark Steel Penny (Philadelphia)
• 1943 Bronze Wheat Penny (Philadelphia)
• 1943-D Steel Penny (Denver)
• 1943-S Steel Penny (San Francisco)

Also Read: Value Of Old Pennies By Year (1959-Present)

 

1943 No Mint Mark Steel Penny Value

Here’s a number that sounds like it should make a coin worthless: 684,628,670 struck. But the Philadelphia 1943 steel cent gets interesting at the top of the grading scale.

Steel planchets are hard. The Mint had to crank up striking pressure and swap dies constantly, which actually produced sharp strikes on many coins. These weigh 2.7 grams, look silvery-gray, and stick to magnets. In 2020, a Philadelphia MS68+ example sold at Stack’s Bowers for $33,600 — the auction record for any regular-issue 1943 steel cent from any mint.

Here’s the counterintuitive part: despite having the highest mintage, Philadelphia coins are the scarcest at the very top. PCGS has certified only 3 examples at MS68+, compared to 5 from San Francisco and 2 from Denver. According to CoinWeek population tracking, the combined PCGS and NGC MS68+ population for Philadelphia stood at just 10 total examples as of late 2025. If you’re chasing a registry set, that’s your bottleneck.

Here’s how top-condition examples have performed at auction.

Both beginners and advanced collectors keep this wartime staple on their want lists.

 

1943 Bronze Penny Value

Most collectors will never hold one of these. Only 20 to 40 were ever struck across all three mints — leftover copper planchets from 1942 that got caught in the presses during the changeover to steel. The Philadelphia variety is the “most common,” with roughly 15 to 22 confirmed specimens.

Color matters enormously. Brown (BN) examples typically range from $240,000 to $372,000. The sole known fully red example? Estimated around $1 million. The ANA notes that a 1943 copper cent was first publicly offered for sale in 1958, fetching over $40,000 — a jaw-dropping price for that era. By 2010, a Philadelphia specimen sold privately through Legend Numismatics for $1.7 million.

How do you spot one? Weight and magnetism. These weigh 3.11 grams versus 2.7 grams for steel. They won’t stick to a magnet. But here’s a detail I think most people miss: because the dies were set up for hard steel planchets, genuine 1943 bronze cents show exceptionally sharp strikes, especially around the rim. That’s a diagnostic clue for authentication. In April 2021, a 1943 Bronze Penny graded MS62 Brown PCGS CAC achieved $348,000 at auction.

 

1943-D Steel Penny Value

What would you pay for the only one of something? In January 2019, someone paid $504,000 for the sole confirmed 1943-D bronze penny — graded PCGS MS64BN — at Heritage Auctions. That makes it the rarest Lincoln cent by mint mark. Period.

For standard Denver steel cents, the story is more accessible. Denver struck 217,660,000 pieces. Population data shows over 300 MS68-graded examples across PCGS and NGC combined, making Denver somewhat easier to find at MS68 than Philadelphia. The top recent price for a regular 1943-D steel penny was $14,400 at auction in 2025 for an MS68+ specimen.

Denver tended to use fresher dies during this run. You’ll often notice sharper “D” mint marks and cleaner overall strikes compared to late-run Philadelphia dies. That’s worth knowing if you’re cherrypicking raw coins at shows.

Condition makes all the difference between a $0.25 coin and a four-figure one.

Denver wartime cents remain popular across all collector levels.

 

1943-S Steel Penny Value

Think the lowest-mintage coin is always the hardest to find in high grade? Not here. San Francisco struck 191,550,000 pieces — the fewest of the three mints — but collector hoarding and superior strike quality created surprisingly strong survival rates in gem condition.

Numismatic scholar David W. Lange put it well in 2005: “Of the three steel cent issues, this is the scarcest in gem, though the population data suggests that they’re anything but extinct.” PCGS has certified roughly 140 examples at MS68, worth about $4,000 each. At the pinnacle MS68+ grade, PCGS has certified 5 examples valued at up to $35,000. The current auction record for a non-bronze 1943 steel cent is $138,000, set by a PCGS MS67 1943-S sold in January 2014.

San Francisco’s reputation for sharp strikes shows up clearly in auction results.

Collectors consistently chase this lowest-mintage regular strike variety.

 

1943-S PL Steel Penny Value

“Proof-Like” means the coin’s flat background areas show mirror-like reflectivity — like a proof coin, except this was struck for regular circulation. Exceptionally polished dies and ideal striking conditions at San Francisco created this effect on a handful of 1943 steel cents.

You get glossy mirror fields with frosted raised devices. It looks like it shouldn’t exist. And barely any do. PCGS has certified just one coin each at MS64, MS66, and MS66+ with the PL designation. NGC has a single MS63 specimen. That’s it — one of the rarest varieties in the entire 1943 steel cent series.

An MS63 PL example sold for just over $200 in 2020, setting a baseline for lower-grade examples. If a higher-grade PL surfaces, expect fireworks at auction.

The few PL specimens that have traded show strong collector demand.

Specialists keep close tabs on these exceptionally rare San Francisco coins.

Also Read: Top 100 Most Valuable Modern Pennies Worth Money (1959 – Present)

 

Rare 1943 Steel Penny Error List

Steel planchets beat up dies faster than copper ever did. The zinc coating, the hardness, the constant die swaps — everything about 1943 production created perfect conditions for minting errors. Add in the chaos of switching compositions mid-stream, and you get some genuinely interesting varieties.

Five main error types are cataloged for this series.

1. 1943 DDR FS-801 Errors

This is a Doubled Die Reverse — the back of the coin shows doubled images from a misaligned hub strike during die preparation. “FS” stands for Fivaz-Stanton, the standard reference guide for U.S. die varieties.

Grab a 5x to 10x loupe and look at the reverse lettering. The doubling shows up strongest on “UNITED STATES OF AMERICA” and “ONE CENT,” with secondary doubling visible on the wheat stalk details. The reverse hub missed its proper alignment on the second impression, and every coin from that die carries the doubled image.

These are scarce at every grade level. PCGS has certified only five examples at MS66, with the highest known grades reaching MS68. If you’re cherrypicking raw steel cents, this is a variety worth hunting.

2. 1943 DDO FS-101 Errors

I’d call this one of the strongest doubled dies on any Lincoln cent ever made. It’s a Doubled Die Obverse from Philadelphia’s wartime production, classified as distended hub doubling.

Look at “LIBERTY” and the date digits — that’s where the doubling jumps out. A PCGS AU58-graded example sold for $5,999 on eBay in May 2019, proving demand is strong even in circulated grades.

Pricing is straightforward: about $30 in low circulated grades, $100 at AU55, and around $1,500 for an MS66 uncirculated example. Not a bad return for something you might cherrypick out of a dealer’s junk bin.

3. 1943/2-S DDO FS-101 Errors

This is the only confirmed overdate in the entire Lincoln cent series. A die originally prepared for 1942 was re-hubbed with a 1943 date, leaving traces of the “2” visible beneath the “3.”

For years, people thought it was just a doubled die. Then in July 2020, collector James Elliott noticed “the extra metal to the upper right side of the 3 matches a 2.” That changed everything. The angular misalignment between hub strikes means you’ll see only trivial doubling near the pivot point on LIBERTY, but strong doubling at the base of the “1” and along the curve of the “9.”

An MS67 example sold for $10,000 in 2022. Since the overdate confirmation is still relatively recent, we think this variety has room to grow.

4. 1943-D/D Errors

Back in 1943, mint marks were punched into each working die by hand. Sometimes the worker missed. The 1943-D/D Repunched Mintmark shows a visible “ghost” impression of the first punch sitting beneath the stronger second strike.

Only an estimated 3,000 to 5,000 examples survive across all grades. The auction record is $21,275, set by an MS67 specimen at Heritage Auctions in February 2011. Current values run from $400 in MS64 to $19,500 in MS68. Even circulated examples at EF40 pull $100 or more.

5. 1943-D/D RPM (FS-501 And FS-502) Errors

Two distinct repunched mintmark varieties exist from Denver, each with its own Fivaz-Stanton catalog number. Both came from the same hand-punching process, but the secondary “D” sits in a different position on each.

FS-501 shows the ghost “D” below and to the left of the primary mint mark — bold and clearly defined. FS-502 is more subtle, with a different displacement angle. FS-501 is the one you want. It’s listed in the Red Book as “1943-D Boldly Doubled Mint Mark” and ranks as the #8 most wanted Lincoln cent variety among advanced collectors.

The $21,275 auction record at Heritage Auctions in 2011 belongs to FS-501. FS-502 examples rarely attract serious auction attention. If you’re sorting through raw D-mint steel cents, focus your loupe on that mint mark — FS-501 is the cherrypick that pays.

Also Read: 42 Rare Penny Errors List with Pictures (By Year)

 

Where to Sell Your 1943 Steel Penny?

For 1943 steel pennies with error varieties like DDO FS-101, DDR FS-801, or the coveted D/D repunched mintmarks, selecting the right marketplace becomes even more critical to maximize returns on these specialized varieties. Major auction houses such as Heritage Auctions and Stack’s Bowers regularly feature 1943 steel cent varieties and attract the most competitive bidding for premium examples.

Check out now: Best Places To Sell Coins Online (Pros & Cons)

 

1943 Steel Penny Value Market Trend

*Market Trend Chart showing the number of people paying attention to this coin.

 

FAQ About The 1943 Steel Penny

1. How Much Is A 1943 Steel Penny Worth Today?

Most circulated examples run $0.25 to $0.50. Uncirculated with intact zinc coating? $1 to $5. The real money starts at MS65 and up — about $30 for MS65, $200 for MS67, and $3,200 to $5,250 for MS68 depending on the mint. The only regular-issue steel cent to break the $100,000 barrier was a 1943-S MS67 that sold for $138,000 in January 2014.

2. What Is The Rarest 1943 Steel Penny?

The 1943-D Bronze cent. One exists. It’s graded PCGS MS64BN and sold at Heritage Auctions in January 2019 for $504,000. Among regular steel cents, Philadelphia MS68+ examples are the toughest — only 3 certified by PCGS as of late 2025. For varieties, the 1943/2-S overdate — confirmed as a true overdate in July 2020 by collector James Elliott — is one of the newest major discoveries in the Lincoln cent series.

3. How Can I Tell If My 1943 Steel Penny Is Real Or Fake?

Start with a magnet. All genuine 1943 steel pennies stick. If yours doesn’t, you might have a valuable bronze penny — or a copper-plated fake. Weigh it: steel cents hit 2.7 grams, genuine bronze ones weigh 3.11 grams. Check the date carefully — counterfeiters file the “8” or “9” from 1948 or 1949 pennies to fake a “3.” If your coin doesn’t stick to a magnet, stop testing and send it to PCGS or NGC for authentication.

4. How Do I Know If My 1943 Steel Penny Has A Rare Error?

Grab a 5x to 10x loupe and look for: (1) Doubled lettering on “LIBERTY,” “IN GOD WE TRUST,” or “1943” — that’s a DDO or DDR variety; (2) A ghost “D” or “S” under the primary mint mark — that’s an RPM; (3) A blank crescent-shaped area with partial design — off-center strike; (4) Raised blobs or bars on the rim — die breaks or cud errors. Any of these is worth submitting to PCGS or NGC. The grading fee is nothing compared to what these errors can bring.

5. What Is The Most Expensive 1943 Steel Penny Ever Sold?

$1.7 million. That was a private sale through Legend Numismatics of Lincroft, New Jersey, in September 2010 for a 1943-D Bronze penny. A 1943-S Bronze cent sold privately for approximately $1 million in 2007. At public auction, a 1943-D Bronze brought $504,000 at Heritage Auctions in 2019. For regular steel cents (non-bronze), the record is $138,000 for a PCGS MS67 1943-S at Heritage Auctions in January 2014.

6. What Is The Philadelphia MS68+ Population For The 1943 Steel Penny?

Tiny. As of late 2025, PCGS has certified only 3 Philadelphia (no mint mark) 1943 steel cents at MS68+. NGC has 7 at MS68+ across all mints. The CAC MS68 population reached 43 stickered examples plus 1 graded example as of September 2024, per CoinWeek population tracking. That scarcity is why MS68+ examples command $30,000 to $35,000.

7. How Does The 1943/2-S Overdate Differ From A Regular 1943-S Steel Penny?

Look at the “3” in the date. On the overdate, you’ll see remnants of a “2” underneath — the die was originally hubbed with 1942 and then re-impressed with 1943. The giveaway is extra metal to the upper right of the “3” that matches the curve of a “2,” plus doubling at the base of the “1” and along the “9’s” leg. This is the only confirmed overdate in the entire Lincoln cent series. An MS67 sold for $10,000 in 2022, versus $200 to $600 for a regular 1943-S in the same grade.

8. Is The 1943 Steel Penny Worth More Than A 1944 Steel Penny?

Not even close — the 1944 steel penny is far more valuable. Over 1 billion steel cents were intentionally struck in 1943. In 1944, the Mint switched back to copper, and only a handful of leftover steel planchets accidentally got used. A 1944-S steel penny sold for $373,750 at Heritage Auctions in August 2008. A 1944 steel penny brought $408,000 in 2021. They were never supposed to exist, and that’s what makes them special.

9. Can I Find A 1943 Steel Penny In Circulation Today?

Technically possible, but don’t count on it. An estimated 68 million Philadelphia examples survived, but collectors have been pulling them from circulation for 80+ years. Your best bet is old coin jars, inherited collections, or estate sales. If you do find one in pocket change, it’ll be heavily worn and worth $0.10 to $0.25 — but it’s still a genuine piece of World War II history.

10. Should I Get My 1943 Steel Penny Graded By PCGS Or NGC?

Only if it looks like MS65 or better, shows a possible error variety, or might be bronze instead of steel. At MS65, slabbing can bump value from about $5 raw to $30+ certified — that covers the grading fee. At MS68, you’re looking at the difference between $50 and $3,000 or more. Always submit through a reputable dealer or directly through the official PCGS/NGC process to avoid counterfeit slabs.