Rare 1943 copper coin could fetch a pretty penny in auction

Share
Rare 1943 copper coin could fetch a pretty penny in auction

The 1943 coin, described as "the most famous error coin in American numismatics", is one of only about 15 made - and it could be worth a fortune.

A penny pressed in 1943 is fetching well over $100,000 at auction.

Heritage Auctions now lists Lutes's authentic 1943 Lincoln cent at a whopping $130,000, which jumps to $156,000 with the added Buyer's Premium.

Intrigued by his new coin, Lutes asked the U.S. Treasury for guidance and was told it had not made any 1943 copper pennies.

As rumours swirled about the rare copper coins, it was even reported that auto magnate Henry Ford was offering a free vehicle to anyone who could give him one.

And despite a growing number of reported finds, the Mint "steadfastly denied any copper specimens had been struck in 1943", Heritage Auctions wrote. But some bronze blanks caught in the machine and mixed in with the "steelies".

The coin was one of just 20 created by the US Mint in 1943 with a copper-looking surface, Heritage Auctions, who is selling off the coin after Mr Lutes' recent death, explained on its website. They quietly slipped into circulation, to amaze collectors and confound Mint officials for years to come. PCGS CoinFacts, which offers information to all collectors of USA coins, estimates that there are only 10 to 15 such pennies.

When then 16-year-old Lutes was handed the copper cent, he recalled the "steel" cents created in 1943, and was intrigued by the specimen's copper finish, Heritage Auctions stated.

But when Lutes contacted the Ford Motor Company, he was told the rumor was false. "All pennies struck in 1943 were zinc coated steel". "All pennies struck in 1943 were zinc-coated steel". Lutes even tried to get the authenticity of his penny verified by the Treasury Department. He kept it in his collection for decades, but sold it before passing away in September.

"No one really knows what it's going to sell for".

A popular rumor among collectors at the time claimed Henry Ford was offering to trade a new auto for one of the rare "copper" pennies struck in 1943, but Lutes made a decision to just keep the coin after contacting the Ford Motor Company and discovering the offer was nothing but an urban legend.

Share

Advertisement

Related Posts

Phillies, White Sox View Mike Moustakas As Fallback To Manny Machado
Sources also tell Passan that this does not take the Yankees out of the Manny Machado sweepstakes. The deal is for $4 million for one year, per USA Today's Bob Nightengale .

Mike McCarthy will only pursue Jets' head coaching position
McCarthy, who took over the Packers in 2006, was sacked by the team in early December after it got off to a 4-7-1 start. Prior to his time as head coach in Miami, Gase was an offensive coordinator with the Chicago Bears and Denver Broncos .

Australian police arrest man over suspicious packages sent to embassies and consulates
DFAT said IT had sent an email to all Canberra-based diplomatic missions yesterday, and then to other consulates across Australia. Officers have so far recovered 29 of the packages, with forensic testing now underway to determine the exact substance in them.

South Africa teacher suspended over class 'split by race'
This time of year is supposed to be joyous as a lot of kids start their school careers while others return to a higher grade. In the photo, a small group of black children are sitting at a separate table away from the white children.

Clemson wins 2nd National Championship in three years vs Alabama, 44-16
Justyn Ross caught six balls for 153 yards and a score for Clemson, which shut out 'Bama after leading 31-16 at the half. It's pretty rare to see a Saban-coached team get manhandled.

Gold steady as dollar sags on Fed rate pause bets
A further step by China's central bank late Friday to secure liquidity to the slowing economy may also help assuage concerns. Japan's Nikkei shot up 3.1 percent, helped in part by a pullback in the yen, while South Korea added 1.5 percent.

Malta reaches deal for 49 stranded migrants to disembark
Malta last week allowed the boats to shelter near its coasts from the bad weather but would not let them disembark the migrants. Another 78 will be allowed to stay in Malta, while 44 Bangladeshi migrants will be repatriated.

New Mercedes-Benz CLA is a real beauty
The smoother body helps the CLA to look more expensive than it really is, and the aerodynamics have been improved. The new Mercedes-Benz CLA Class has been revealed in Las Vegas this evening.

Iran Confirms Arrest Of U.S. Navy Veteran Reportedly Jailed Since July
Christine Levinson's husband, former Federal Bureau of Investigation agent Bob Levinson, has been missing in Iran since 2007. The State Department advises Americans not to travel to Iran "due to the risk of arbitrary arrest and detention".

Murray's Australian Open bid dealt a blow after match against Djokovic
An exchange followed, with Murray even offering to sort her out a ticket for his first-round match against Roberto Bautista Agut . World number one Djokovic, who produced a strong comeback past year , was the top seed of men's singles.

© 2015 ExpressNewsline. All Rights reserved.