Expert: PAPAJACK - 4/8/2009

Question
I have a 1943-s penny it is attracted to a magnet. I wanted to know if it was worth anything or if it is a fake. I also have a 1900 Indian head penny can you tell me what it is worth also?  Thanks

Answer
Hello Kelly,           

Thank You for selecting me for your Question.

The 1943 Lincoln Cents are 'ZINC COATED STEEL' released only in 1943. And yes there is some value on them.

Owing to a shortage of copper during the War, the Treasury Department used steel for the Cent. No bronze coins were officially made that year, although some exist, and through a similar error some steel cents from 1944 do exist.

All three Mints made the coins.
Philadelphia produced 684,628,670 of them.

Denver Mint produced 217,660,000 of them.

San Francisco produced 191,550,000 of them.

Their value ranges from .20 cents for lower grade specimens to about $3.00 in brilliant un-circulated condition to collectors.

The 1900 Indian Head Cent you have usually sells for about a dollar to collectors in worn condition and if they are damaged or have holes they are not useful to collectors.

I hang on to many in lower grades they are history in your hands. It has been so long that all younger people forget there was ever anything besides the Lincoln cent. I often give examples of these Indian cents to children in holders (so they don’t get spent).

All coins are valued on a scale from 1 to 70. Most circulated coins range from Good (grade-G4) to Almost Un-circulated (grade-AU50) on the scale. For a quick grade look for the diamond shape on the hair ribbon and all the letters in the headband these features wear down first in circulation. Less than 3 letters is a low grade.  

For higher grades where you can see the word LIBERTY in the headband they can sell for 2 to 4 dollars each and up to $7 in Almost Un-circulated grades.  

Hope I answered all your questions. Feel free to ask me others about US Coins.

If there any more information you require on this question feel free to write me again and just ask.

Thank You and Good Luck

PapaJack