Expert: Dan Moore - 2/12/2009

Question
I have, just as any other coin collector, a couple of 1943 steel pennies. I was, however, quite curious about this coin I have which recently came into my possession. The coin is a 1973 D penny, in Nearly Uncirculated condition. The odd thing about this coin is that it's not copper. It's steel. I have never seen a coin like this in the 17 years I've been alive (not long, I know). I know that the coin is not coated it silver, zinc, or nickel because the coin is magnetic. Silver is not magnetic, zinc is actually diamagnetic. I do know that nickel is ferromagnetic, but the mix that makes our 5 cent pieces is not magnetic. Is a nickel coating pure nickel, making it magnetic?

Also, it's obvious by simply viewing the coin that it is not a penny stamped on a dime planchet.
So, do I have a rare, valuable coin in my possession?

Answer
James,

While it may be a pure nickel coating, more likely it is a steel electroplate.  Some people have nothing better to do at work.

I suggest you take it to a larger coin show to be examined first hand by an expert.

Try checking out the websites for coin certification services, to see what shows they will be attending, so you can submit your coin if you choose :

www.pcgs.com
www.ngccoin.com
www.anacs.com

Good luck,

Dan