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Although United States penny is widely known to hold a higher mintage cost than its face value, the United States actually made a large profit on minting steel coins. In 1943, the cost of a gross ton of steel was $34. [12]
After the outbreak of World War II, the demand for copper rose as it was used in ammunition and other military equipment. The US Mint researched ways to reduce or eliminate the usage of copper in cent production. The mint struck pattern coins in various metals, using the obverse design of the Colombian two centavo coin. [1]
However, a few were mistakenly made of bronze, and these are extremely rare and valuable. Made of 95% copper and 5% tin and zinc alloy, it sold for $1.7 million in 2010 but is valued at $2.3 ...
"Circulating Coins Production data". United States Mint. Archived from the original on March 14, 2016. United States Mint. Archived 2017-01-31 at the Wayback Machine; Archived 2007-03-14 at the Wayback Machine dead links "50 STATE QUARTERS". COINSHEET. Archived from the original on October 27, 2007. "Pennies Minted by the U.S. Mint from 1970 to ...
During World War II, pennies were made of steel to save copper for the war effort. However, a few were mistakenly made of bronze, and these are extremely rare and valuable.
Unfortunately, many of these coins can be fakes, with a common scam involving filing down the 8 in a 1948 copper penny to look like a three. If you think you may have a 1943 model, be sure to take ...
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