The 1943-S bronze Lincoln cent is a coin that has captured the attention of collectors and historians alike. Its uniqueness, combined with its rarity, has led to it being valued at an astonishing $504,000. This coin stands out not only because of its historical significance but also due to the fascinating story behind its creation. In this article, we will explore why the 1943-S bronze Lincoln cent is so valuable, the impact of World War II on U.S. coinage, and the extraordinary journey of this coin from its accidental creation to its place in numismatic history.
Historical Context: The Impact of World War II on U.S. Coinage
World War II had a significant effect on the production of U.S. coins, especially the Lincoln cent. During the war, there was a high demand for copper, as it was needed for the war effort, particularly in the production of ammunition and communication equipment. As a result, the U.S. Treasury made the decision to conserve copper by changing the metal used for minting the 1943 pennies. Instead of the usual bronze composition, the U.S. Mint decided to use zinc-coated steel to create the 1943 Lincoln cents.
This change was crucial because it allowed the government to save copper for more important military uses. As a result, over one billion steel pennies were minted in 1943, with the San Francisco Mint producing more than 191 million of them. However, not all went according to plan, leading to the creation of the rare 1943-S bronze Lincoln cent.
The Accidental Creation of the 1943-S Bronze Lincoln Cent
The reason the 1943-S bronze Lincoln cent is so rare is because of a mistake. Some bronze planchets, or coin blanks, that were leftover from 1942 got mixed up with the new steel planchets. These bronze planchets were accidentally fed into the coin presses at the San Francisco Mint, and they were struck with the 1943-dated dies. As a result, a few bronze Lincoln cents were produced in 1943, despite the decision to switch to steel.
The first verified discovery of one of these rare coins happened in 1944 when a teenager named Kenneth Wing, Jr. found a 1943-S bronze penny in circulation. This discovery sparked a lot of excitement, and rumors quickly spread that finding one of these coins could result in a big prize, such as a car from Henry Ford. Though this claim was later debunked, it helped create a nationwide search for the elusive coin.
The Value of the 1943-S Bronze Lincoln Cent
The rarity of the 1943-S bronze Lincoln cent is one of the main reasons why it is so valuable. Only six authenticated examples of this coin are known to exist, making it one of the rarest coins in the world. The coin’s value has skyrocketed due to its rarity and historical significance. In fact, one of these coins was sold for a record-breaking $1 million in a private sale in 2012.
The most famous example of the 1943-S bronze cent is a coin graded MS63 Brown by the Professional Coin Grading Service (PCGS). This coin is part of the Simpson Collection and has sold for millions of dollars due to its excellent condition and historical importance. Its design features sharp details, including Lincoln’s hair and the wheat stalks on the reverse side. The coin also retains hints of its original red color, which further increases its appeal to collectors.
The Distinctive Features of the 1943-S Bronze Lincoln Cent
What makes the 1943-S bronze Lincoln cent stand out is its physical characteristics. The coin’s obverse (front) displays intricate details, especially in the hair of President Lincoln and the wheat stalks on the reverse. The surface of the coin has a light brown and crimson patina, which is a result of the coin’s age and the materials used in its creation. Some of these coins even show traces of zinc from the steel planchets that were accidentally mixed with the bronze. These unique features add to the coin’s mystique and make it highly sought after by collectors.
The 1943-S bronze Lincoln cent has earned its place among the “100 Greatest U.S. Error Coins,” which further cements its status as one of the most valuable and celebrated error coins in American history.
Other Notable 1943-S Bronze Lincoln Cents
While the MS63 Brown example is the most famous, other 1943-S bronze Lincoln cents have also garnered attention and high sale prices. Here are a few examples:
- AU58 PCGS: This coin, which was previously owned by Dave Berg and later purchased by Bob Simpson, sold for $1 million in 2012.
- AU55 PCGS Secure: Known for its auction success, this coin sold for $211,500.
- AU55 NGC: Listed on the NGC Census Report, its auction history varies.
- AU53 NGC: Discovered by Kenneth Wing, Jr., this coin sold for between $173,000 and $228,000.
- VF35 PCGS: Known as the “King of the Small Cents,” this coin sold for between $51,750 and $207,000.
Each of these coins tells a unique story, and they further emphasize the extraordinary value of the 1943-S bronze Lincoln cent.
The Enduring Legacy of the 1943-S Bronze Lincoln Cent
The 1943-S bronze Lincoln cent continues to be a highly coveted piece of American numismatic history. Its accidental creation during a time of war, combined with the mystery surrounding its discovery and the rarity of surviving examples, ensures that it remains a symbol of rarity and value in the world of coin collecting. As one of the rarest coins in existence, the 1943-S bronze Lincoln cent continues to captivate collectors and enthusiasts alike, ensuring that its legendary status will endure for generations to come.
Guilderland Historical Society
FAQs
What makes the 1943-S bronze Lincoln cent so valuable?
Its rarity, historical significance, and unique creation during World War II make it worth over $504,000.
How many 1943-S bronze Lincoln cents are known to exist?
Only six authenticated examples are known to exist.
Why was the 1943-S bronze Lincoln cent accidentally created?
Bronze planchets leftover from 1942 were mistakenly used to strike 1943 coins.