Will a magnet pick up a steel penny?
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Yes, a magnet will pick up a genuine steel penny. This is the primary test used by collectors to quickly determine if a 1943 or 1944 penny is made of steel or the much rarer, non-magnetic copper alloy.
Can a magnet pick up a steel penny?
Magnet Test
If it did not pick the penny up or attract it with a noticeable force, it is not a steel penny. If it picked the penny up, your penny is made from steel. There is no substitution for coin grading from a reputable and authoritative organization, but these tests will point you in the right direction.
How to tell if a penny is steel?
Magnet Test
By comparison, the usual copper-zinc combination of most pennies isn't magnetic at all. This is why using a magnet is the simplest way of verifying a 1943 penny. If the penny clings to the magnet, you'll know it's a steel penny.
How much is a penny worth if it sticks to a magnet?
If a penny sticks to the magnet, check the date. A 1943 circulated penny that sticks is worth 10 cents or so. But a 1944 penny that sticks to the magnet should net you around $40,000. Much more if it's in really good condition.
Is a coin fake if it's magnetic?
Silver, gold, and most of the metals they're alloyed with in coin making are not magnetic. While some carefully made fakes can be non-magnetic, using a magnet is a quick and easy way to spot many counterfeit coins. The stronger the magnet, the better, since it will pick up even small amounts of magnetic materials.
1943 No mintmark steel penny value worth alot of money.
Is a 1943 penny worth $1,000,000?
Most circulated examples are worth between 10 and 50 cents, while uncirculated coins can fetch $2 to $10, with high-grade certified pieces reaching $100 or more. Rare error varieties, such as the highly sought-after 1943 Copper Penny, can be worth over $100,000, and some have sold for more than $1 million.
What coins will a magnet pick up?
Iron and steel are magnetic, so if a coin contains these metals, it will be attracted to a magnet. This is why some older coins, such as pennies, are magnetic, while others, such as dimes and quarters, are not. Another reason why some coins are magnetic is because of the way they are made.
Why are 1999 pennies worth $4,500 today?
A 1999 penny can be worth as much as $4,500 today because of a rare minting error called a “wide AM” variety, where the “A” and “M” in “AMERICA” are spaced further apart than normal.
How rare is it to find a steel penny?
Given the coin's extremely high mintage figures, it is common to find in most circulated grades. For high mint-state grades, however, the 1943 steel penny can be very rare and valuable.
Does a 1944 steel penny stick to a magnet?
A simple test to identify a 1944 Steel Wheat Penny is checking if it sticks to a magnet; authentic steel cents are magnetic, differentiating them from their copper counterparts.
How much is a 1944 steel penny worth today?
1944 STEEL Wheat Penny Value
According to the NGC Price Guide, as of December 2025, a Wheat Penny from 1944 in circulated condition is worth between $35000 and $43500. However, on the open market 1944 STEEL Pennies in pristine, uncirculated condition sell for as much as $175000.
How can I tell if my 1944 steel penny is real?
How to Spot a 1944 Steel Cent:
- Magnet Test – If it sticks to a magnet, it may be steel.
- Weight – Steel cents weigh approx. 2.7 grams, versus 3.11 grams for copper.
- Color – Authentic steel cents have a distinct silver-gray tone.
What penny is worth $250000 today?
Depending on their condition, those 1943 Lincoln wheat pennies would be worth, at most, between $100,000 and $250,000, Feigenbaum said.
What will a magnet not pick up?
Metals That Don't Attract Magnets
Certain metals in their natural states such as aluminium, copper, brass, lead gold, and silver don't attract magnets due to the fact they are weak metals. However, properties including iron and steel can be added to these metals in order to make them magnetic.
Are all steel pennies magnetic?
The copper cents differ from their steel counterparts in four ways: Genuine 1943 copper cents will not be attracted to a magnet. Copper-plated steel cents will exhibit a strong magnetic attraction.
Which old coins are magnetic?
While they changed more recently than the 'coppers', you will actually find that a higher percentage of 5p and 10p coins are magnetic. This is because in 2013 The Royal Mint began a programme to recover old 5p and 10p coins from circulation.
What penny is valued at 2.3 million?
A 1943-D Lincoln Bronze Wheat Penny sold for $1.7 million in 2010 but is valued at $2.3 million in uncirculated mint condition.
What's so special about a 1983 penny?
Lower mintage numbers are more valuable, as are coins with errors or mistakes. It's exactly that – an error or mistake – that makes certain 1983 pennies more valuable. According to CNBC, the special 1983 pennies in question lack a mint mark, the designation on the face side of the coin that shows where it was created.
Should I clean old pennies?
Polishing and/or cleaning coins can reduce their value. Older coins that show deep age coloration are more desirable than coins whose surfaces have been stripped away by improper polishing or cleaning. If you do polish a coin to remove dirt, use mild soap and water.
What is the rarest penny to find?
7 Most Rare Pennies — and What Makes Them Unique
- 1856 Flying Eagle Cent. ...
- 1864 Indian Head Penny – "L" on Ribbon. ...
- 1909-P and 1909-S VDB Lincoln Pennies. ...
- 1943 Lincoln Cent Struck on Bronze Alloy. ...
- 1944-S Lincoln Steel Penny. ...
- 1969-S Lincoln Penny – Doubled Die Obverse. ...
- 1958 Doubled Die Obverse Cent.