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 .

Serena Williams handed tough draw in quest for record 24th Slam
Andy Murray is primed for a comeback while Roger Federer and Novak Djokovic are looking for their seventh Australian Open titles. But McEnroe said Williams looked good and appeared to be in a great state of mind during last week's Hopman Cup in Perth.

Ranveer, Alia star in uplifting musical drama
If any other actor would have been a part of this film instead of me then I would have burnt with jealousy. Ranveer can undoubtedly pull off any role, and here, he has nailed his character.

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.

German far-right lawmaker seriously injured in attack
Foreign Minister Heiko Maas said there was "absolutely no justification" for the use of violence despite political differences. The party won 10 per cent of the vote in Bremen in the 2017 national election, below its nationwide result of 12.6 per cent.

Eclipse Season 2019 Kicks Off With Partial Solar Eclipse Today
There are three solar eclipses and two lunar eclipses this year, and the transit of Mercury will occur in November 2019. Scientists say that the changes in the colour are due to refraction phenomenon and nothing related to the apocalypse.

R. Kelly's attorney responds to allegations made in docu-series
There is nothing that can be done to investigate these allegations without the cooperation of victims and witnesses", Foxx said. He's reportedly put together a packet of evidence that will be given to the Cook County State Attorney.

Amazon CEO Jeff Bezos and wife MacKenzie announce they are divorcing
Bezos, who founded Amazon in his garage in 1994, is considered the richest man in the world with a net worth of $ 137 billion . However, much of the family fortune is bound up in Amazon stock, with Bezos still integral to the running of the company.

Meghan Markle's 1st patronages as member of the royal family announced
Joanna Newman, chief executive and secretary general of the ACU, said she was "thrilled" Meghan had become their new patron.

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.

© 2015 ExpressNewsline. All Rights reserved.