Expert: Dan Moore - 1/29/2008

Question
QUESTION: Hi Dan,

I have a silver 1945 penny in from my brother's old coin collection.  It's in very good shape.  If it's authentic, is this from a copper shortage?  What allow was used for it?  I'm not looking to sell it, but I'm also curious as to its value?

ANSWER: HI Jeff,

1943 was the year that pennies were made from steel.  So I suspect your 1945 may have had the date altered.  Try to find a strong magnifier and examine the date, looking for minute tooling marks around the date.

You can also test it by sticking it to a magnet -- if it sticks, it's a steel penny.  If it does not stick, I would suspect it has been plated, probably with silver, nickel, zinc, or steel.

There are no known 1945 silver or steel pennies, so I have to believe yours has been altered somehow, making it a novelty item with a value of less than a dollar.

If it turns out to just be a 1943 steel penny, its value is about 5 cents.

I hope this helps,

Dan


---------- FOLLOW-UP ----------

QUESTION: Dan,

Thanks for your quick response.  

I know you're a coin guy, but I meant to ask you in the last question if you knew of any online resources for valuing paper money?  I have some interesting bills from my father-in-law's collection that I'd like to value.  Unfortunately, they're not in the greatest shape, but they're definitely old.

Thanks,

Jeff

Answer
Jeff,

The only free online guide I know of is for small size notes (1928 to present) :

http://www.coinsite.com/html/uspapermoneyprices(sm).asp

You can also order a current copy of the Currency Dealer Newsletter (Greensheet), that lists dealer prices for all U.S. currency, for $5.00 here :

htp://www.greysheet.com

Have fun!

Dan