Status message

Operating in maintenance mode.

Rare Wheat Penny Is Worth $85,000 - But Watch Out For Fakes

Numismatic experts are reporting that a rare 1943 coin made from copper has sold for close $85,000 at recent coin auctions.

It seems that the copper wheat penny was minted by accident and released into the money supply by error. It turns out the pennies are made entirely from superior copper plating because of shortages during the war.

However, it is also worth noting that because of the worth of these coins, there are thousands of fakes.

Disreputable dealers are taking a 1948 copper penny and filing the 8 down to make a 3.

“Coin analysts suggest that copper plates may have been tested or left mixed among the other steel plates from 1942 and thus the error,” according to the online coin value database CoinTracker.

“No matter what the cause, these coins are selling for just under $100,000 dollars according to our resources,” the database notes.

Keep in mind that pennies were made of other materials during 1943 because of shortages of copper and tin during World War II.

Apparently, the zinc-plated steel coins tarnished if they got wet, so public complaints led to the discontinuation.

By 1944, wheat pennies were once again being produced using a high-percentage copper alloy, but any copper pennies minted in 1943 were brought into circulation in error.

However, the US Treasury and law enforcement sources note that counterfeiters have become creative as they try to cash in on the value of this coin.

Experts say all pennies went back to their pre-World War II composition in 1946, so counterfeiters may attempt to file down the “8” in 1948 minted coins to make it appear like a “3.”

Another known scam is just copperplating the mass-distributed steel wheat pennies from 1943.

The easiest way to avoid buying a fake, or to see if you've got a real 1943 copper wheat penny, is to use the magnet test. That’s because a solid copper penny will not stick to a magnet, but a steel penny with copper plating will.

Source: Mail Online
Photos: Coin Tracker

Some counterfeiters file down the '8' in 1948 minted coins so it will look like a '3' and cash in on the fake

Tell Us What You Think

More News Stories

A woman was arrested after she allegedly beat the elderly veteran in her care. Now, her motive has been revealed and she's been sentenced.


On Saturday, a car thief tried to carjack an elderly woman in Utah. It was Christopher Bigler who tried to steal 69-year-old Saratoga Springs...

Democrats are using “paid agitators” to disrupt Donald Trump’s campaign events, according to the apparent Republican presidential nominee.


When Disney threatened to boycott Georgia based on HB 757, Texas Values, a group advocating for "faith, family and freedom in the great state of...

A 14-year-old girl was tragically found dead in February. Her older brother believes that four other girls bullied her and were responsible for...

Latest News Stories

Tiger Woods has made headlines in the past few years for all the wrong reasons, and he's now making a shocking admission. Sports fans may have...

A restaurant in Michigan is under investigation after a teen working there blew the whistle on the establishment. The teen says workers were told...

Christmas came a little early for about 500 families at Fort Carson in Colorado this week, as they each received a special delivery. As Fox News...

Keith Batchelder, a service member with the U.S. Army Special Forces, recently shared a photo online with his fiancée. The Green Beret did expect...

Hillary Clinton is certain to win the general election in November if Republicans split their votes between the party’s nominee and an independent...