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What is special about the 1943 penny?
However, in 1943, the Mint produced a few copper pennies. 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 was different about the 1943 penny and why was it created?
In 1943 the penny was made out of zinc plated steel to save copper for the war effort which is why most 1943 pennies are silver colored. Metal was not the only commodity that was critical to the war effort. American citizens were asked to conserve food such as sugar, meat, cooking oil, and canned goods.
Why is the penny significant?
Those who favor keeping the penny believe the penny plays an important role in keeping down the costs of the goods and services we buy. If there were no pennies, stores and restaurants would round up to the nearest nickel. This means consumers would end up paying $0.55 for something that should cost only $0.51.
What is the history of the penny?
The penny was the first currency authorized by the United States from the Mint Act of 1792 signed by George Washington. The design for this first one-cent coin was suggested by Benjamin Franklin, and for over two centuries, the penny’s design has symbolized the spirit of the nation, from Liberty to Lincoln.
When did Australia stop using pennies?
The coin was introduced in 1911, while the last penny was minted in 1964. After decimalisation, 14 February 1966, the penny was equal to 0.8333¢. The obverse of the coin featured the reigning Australian monarch.
Why is Abraham Lincoln on the penny?
The Lincoln Penny. The Lincoln Penny was first issued in 1909 to commemorate Abraham Lincoln’s 100th birthday. It was the first American coin to bear a president’s image on its face. The counter argument to this was that Lincoln was the common people’s president; therefore the penny was the appropriate choice.
Who created the penny?
Benjamin Franklin reportedly designed the first American penny in 1787.
Where did the 1943 Million Dollar Penny come from?
Million Dollar Copper 1943 Penny The million dollar penny, a 1943 copper S cent (minted from the San Francisco mint with copper alloy) was purchased by the Texas Rangers co-chairman Bob R. Simpson from Legend Numismatics. Legend Numismatics is a coin dealer of rare coins from Lincroft, New Jersey.
Which is lighter a 1943 penny or a copper penny?
Steel 1943 pennies weigh just 2.7 grams each, lighter than the copper penny of 3.11 grams. It is also the only US coin to not contain any copper whatsoever.
Why did the Steel Penny go out of circulation?
This means as people deposited magnetic steel pennies through the banking system, banks would have those pennies sorted and wrapped through industrial machinery. The steel pennies would get “stuck” to magnets during the sorting process and potentially get removed from circulation as a result of never making it back into circulation.
What kind of Penny is copper and steel?
These coins are, for example, 1948 pennies with half the 8 rubbed down to look like a 3, or copper-plated steel pennies home made to look like they were the original. One important method to test your penny if it is copper or steel is simply using a magnet.