1943 steel cent

Due to wartime needs of copper for use in ammunition and other military equipment during World War II, the United States Mint researched various ways to limit dependence and meet conservation goals on copper usage. After trying out several substitutes (ranging from other metals After public outcry, the Mint developed a process whereby salvaged brass shell casings were augmented with pure copper to produce an alloy close to the 1941–42 composition. This was used for cents dated 1944 through 1946, after which the prewar composition was resumed. Although they continued to circulate into the 1960s, the mint collected large numbers of the 1943 cents and destroyed them. The steel cent is the only regular-issue United States coin that can be picked up with a magnet. The steel cent was also the only coin issued by the United States for circulation that does not contain any copper. (Even U.S. gold coins at various times contained from slightly over 2% copper to an eventual standard 10% copper to increase resistance to wear by making the pure gold coins slightly harder). ==Related variations==

1943 copper cent Far ahead of the 1955 doubled die cent in rarity, the 1943 copper cent is one of the notable rarities of the Lincoln cent series. An estimated 40 examples are believed to have been struck, with 13 confirmed to exist. The error occurred when copper planchets were left in the press hopper and press machines during the changeover from copper to steel blanks. Examples were discovered after the War, with the first two in 1947, 1944 steel cent In an error similar to the 1943 cents, a few 1944 cents were struck on steel planchets left over from 1943. Two explanations are given for why this happened. One is that steel planchets were left in the press hopper and press machines from the previous year mixed in with copper planchets. Another explanation credits the error to the production of 25 million Belgian two-franc pieces by the Philadelphia mint after that country's liberation from the Nazis. These coins were of the same composition and the same planchets as the 1943 cents, but they differed slightly in weight. In all, 1944 steel cents are fewer in number than their 1943 copper counterparts, and are even more valuable; one such example minted in San Francisco sold for $373,750 in an August 2008 auction held by Heritage Auctions; this was the highest auction price ever for a Lincoln cent until September 23, 2010, when it was superseded by a 1943-D bronze penny. == Cost of mintage ==

Although United States penny is widely known to hold a higher mintage cost than its face value, the United States actually made a large profit on minting steel coins. In 1943, the cost of a gross ton of steel was $34. == Novelty coins ==

Since many steel cents corroded and became dull soon after entering circulation, some dealers who sold the coins as novelties improved their appearance by "reprocessing" – stripping off the old zinc coating and then replating them with zinc or chrome. These reprocessed coins are sometimes erroneously described as "brilliant uncirculated", or similar terms, by ignorant or unscrupulous online sellers. == See also ==