Abbott's Blog

25 Sep 2019

What a Steel

Coins-United States | Abbott

Sorting thru my pennies and took out all of the 1943 steel cents.

The 1943 steel cents were struck in steel due to wartime shortages of copper. The Philadelphia, Denver, and San Fransisco mints all produced the 1943 cent in steel. This unique composition consisted of low-grade steel coated with zinc; instead of the previously 95%-copper-based bronze composition. The 1943 cent is known as the "wartime cent", "steel war penny", and "steelie".



Level 5

Most coins were hoarded due to the belief they would be re-called and thus become valuable (that is why the 1883 No Cent nickel was hoarded, and I suspect it is the same for the 1943 cent.) The Kennedy was hoarded due to the president and it turned out to be basically the end of silver in circulating coinage


Level 4

Good blog. A bank teller recently handed me an envelope full of about a dozen steel cents!


Level 6

Great blog. I love the photo. Thanks..

All the coin books say people hated these. I make note of this because every time people hated a coin they did not hoard it. Same with the SBA dollars. Compare this to the 1883 Liberty v "no cents" nickels, which were hoarded, as well as 1964 JFK halves. If a coin was unpopular it almost makes sense (no pun intended) to hoard a few in mint state as a cheap investment. Especially the 1943 steel cent because you knew it was bound to be a one-year issue.


Level 7

The good part is some have not rusted and are in good shape. Some grade high. It's a nice coin to own and like Mokie said it's a great story.

It's Mokie

Level 6

It's one of those coins that has a fascinating history behind it. It will never be valuable, but it will always be a very popular coin for he Lincoln Cent collector.


Level 6

The planchet for the 1943 cent was also used for a Belgium coin.

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