The 1944 steel penny coin values depend on where it was minted. Philadelphia pennies are worth between $28,210 and $57,109, Denver pennies are worth between $33,981 and $60,537, and San Francisco pennies can be worth over a million. So, if you have a 1944 steel cent, it could be worth quite a bit!
In 1944, the United States economy was booming. Unemployment was at an all-time low and wages were rising. This was due in part to the country’s involvement in World War II. With millions of Americans actively serving in the military, there was a high demand for workers in other industries. This increased competition for jobs helped to drive up wages. In addition, the US Mint continued to create large numbers of wheat pennies.
When you think of valuable coins, the first thing that comes to mind is probably a penny. And while most pennies are worth just a fraction of a cent, there are some that can be worth a lot more. 1944 steel pennies are some of the most interesting and valuable one cent coins in circulation today. Because they were accidentally produced, they can be worth a lot more than face value to collectors. What is the 1944 steel penny value? Read on to find out!
What is a 1944 Steel Wheat Penny?
A 1944 Steel Wheat Penny is a very rare coin struck on a steel planchet left over from 1943. In 1944, all pennies were supposed to be made of copper. However, a few steel blanks were left over from the previous year and were mistakenly used to strike some of the 1944 coins. As a result, the 1944 Steel Wheat Penny is a highly sought-after collectors item. Although only a handful of these coins are known to exist, they can fetch tens of thousands of dollars at auction.
Steel pennies were minted in 1943 for two reasons. First, copper was needed for the war effort during World War II. Second, there was a shortage of copper because people were hoarding it due to the war. The steel cent was an attempt by the US government to save copper.
In 1944, the U.S. Mint switched from zinc-coated steel to copper for its one-cent coins in an effort to conserve copper for use in ammunition and other wartime necessities. However, a few steel planchets were inadvertently mixed in with the copper planchets and were struck into coins. These so-called “steelies” are now among the most desirable of all Lincoln cents. The steelies were initially indistinguishable from their copper counterparts and circulated for many years before their true nature was discovered.
While the steelies are a fascinating reminder of a dark chapter in American history, they also stand as a testament to the power of human determination and perseverance in the face of adversity.
What Does a 1944 Steel Penny Look Like?
1944 Steel Penny Specifications
|Designer||Victor David Brenner|
The 1944 steel penny is an unusual coin. It’s made of steel coated with zinc, which gives it a silver color. It’s also smaller than most pennies, at 19 mm in diameter. And it’s very lightweight, at just 2.7 grams. The most distinctive feature of the 1944 steel cent is its smooth edge. Most coins have a reeded edge that helps to protect the designs on the coin. But the 1944 steel penny doesn’t have this reeded edge.
On the obverse, or front side, you’ll see a portrait of Abraham Lincoln. On the left side of the coin is the word “LIBERTY” and on the right side is the date. The reverse, or back side, of the coin features wheat stalks. Above them are the words “E PLURIBUS UNUM” and below are “UNITED STATES OF AMERICA” and “ONE CENT.”
The mint mark can be found on the obverse under the date. If there is no mint mark, then the coin was minted in Philadelphia. If there is a D, then the coin was made in the Denver mint. If there is an S, then the coin was minted in San Francisco. With a little bit of detective work, you can easily identify a 1944 steel cent.
How Many 1944 Steel Pennies Are There?
The “steelies” are now one of the most sought-after collector’s items, as there are only a limited number in existence. More than 2 billion wheat pennies were minted in 1944, but it is estimated that only less than 40 of steel pennies remain in existence today. The steel cent was struck at all three U.S. Mints (Philadelphia, Denver, and San Francisco).
The San Francisco coins are particularly rare, as there are only two known to exist. However, it is possible that more will be discovered in the upcoming years. For now, these elusive coins remain one of the most prized possessions for serious collectors.
1944 Steel Penny Minted
|1944 Steel Penny No Mint Mark||Philadelphia||30|
|1944 D Steel Penny||Denver||7|
|1944 S Steel Penny||San Francisco||2|
1944 Steel Penny No Mint Mark
1944 D Steel Penny
1944 S Steel Penny
How Much is a 1944 Steel Penny Worth
1944 Steel Penny Price Chart
|Type||Extremely fine condition value||About Uncirculated value||Uncirculated condition value|
|1944 no mint mark||$28,210||$33,981||$57,109|
The 1944 steel penny is a rare coin, with only 30 minted in Philadelphia. In extremely fine condition, the 1944 steel penny value is around $28,210, and in About Uncirculated condition, it is worth $33,981. In uncirculated condition with MS 60 grade, it is worth $57,109.
While there were only seven made in the Denver mint, their value has skyrocketed in recent years. In extremely fine condition, they are worth an impressive $33,981. About Uncirculated condition coins are worth even more, at $45,585. But if you have an uncirculated coin with an MS 60 grade, you could be sitting on a goldmine – it’s worth a whopping $60,537!
The 1944 S Steel Penny is considered one of the most valuable coins in existence. Only two were ever confirmed. If either coin were to come up for sale, experts believe it would fetch a price of over $1 million with an MS 65 grade. In extremely fine condition, these pennies are worth approximately $399,637. In About Uncirculated condition, they are worth $551,320. But in uncirculated condition with MS 60 grade, these pennies are worth an astounding $741,587.
So if you come across a 1944 steel penny, be sure to hold on to it tightly – it just might be worth a small fortune!
How Much Is a 1944 Steel Wheat Penny Worth at Auction?
If you’re a collector, you may have wondered how much a 1944 steel penny is worth at auction. After all, they are quite rare! While there’s no one definitive answer, it’s safe to say that these coins can fetch a pretty high price tag. Let’s take a look:
- A 1944 S penny struck on a zinc coated steel composition graded MS 66 sold for $408,000 in 2021.
- Uncirculated 1944 no mint mark steel penny graded MS 64 sold for over $100,000.
- Uncirculated 1944 steel penny graded MS 61 sold for around $58,200.
- About Uncirculated 1944 D wheat steel penny sold for $34,500.
- A 1994 Philadelphia mint steel penny graded AU 50 sold for $17,250.
How Do I Know if My 1944 Steel Penny Is Real?
If you’re a coin collector, then you’re probably always on the lookout for new additions to your collection. With so many counterfeit coins circulating, it can be difficult to know if a coin is real or not. There are a few ways to tell if your 1944 steel penny is real.
The Magnet Test
To do the magnet test get a strong magnet. Then, hold the magnet close to the coin. If the coin sticks to the magnet, then it is made of steel and is therefore real. If the coin does not stick to the magnet, then it is not a steel penny and is not worth as much. Steel is an alloy of iron and carbon, and it is this carbon content that makes it magnetic.
Take a Close Look at the Color
Take a close look at the color. Genuine steel pennies should have a pale silver color. If your coin is darker or has a rusty hue, it’s likely not real. While a 1944 steel penny may look silver, it’s actually made of zinc-coated steel. To the untrained eye, the difference in color may not be obvious. That’s why some people refer to these coins as “silver coins”.
Weight the 1944 Steel Penny
Get a hold of a scale that can measure in grams. Then, place your 1944 steel penny on the scale. If it weighs 2.7 grams, then it is a steel penny and therefore real. If, however, it weighs 3.11 grams, then it is a copper penny and not the genuine article.
How to Properly Store Your 1944 Wheat Steel Penny
Coin collectors take their hobby seriously. They scour garage sales and antique shops for that one elusive coin that will complete their collection. And when they finally find it, they want to make sure it is properly stored to prevent any damage.
There are a few reasons why it is important to store coins properly. First, coins are made of metal, which can tarnish over time if not properly protected. Second, coins can be damaged by drastic changes in temperature or humidity. And finally, improper storage can lead to coins being lost or stolen.
Here are some tips on how to properly store your 1944 wheat penny:
- Keep it in a dry, dark place. The last thing you want is for your penny to rust. Keeping it in a dry place will help prevent this from happening.
- If you’re going to display your coin, make sure to do so in a way that won’t damage the coin. For example, don’t put it in direct sunlight or near strong magnets.
- Put it in a clear, airtight container. This will protect your penny from the elements and keep it looking pristine.
- Store it in a cool, temperature-controlled environment. Extreme temperatures can damage your penny, so it’s important to store it in a cool, comfortable place.
By following these simple tips, you can be sure that your 1944 wheat penny will be well-protected and will stay in great condition for years to come.
It’s no secret that pennies minted in 1944 are worth a pretty penny. In fact, depending on where the coin was minted, it can be worth anywhere from $28,210 to over a million dollars. Philadelphia pennies are among the most valuable, with an estimated worth of $57,109. Denver pennies are also quite valuable, with an estimated worth of $60,537.
However, the most valuable 1944 penny is the one made in the San Francisco mint, which can be worth over a million dollars. So, if you have a 1944 penny in your possession, be sure to get it appraised by a professional to find out how much it’s really worth.
Will a magnet stick to a steel penny?
Real steel coins will stick to a magnet, but coated coins will not. This is because steel is a ferromagnetic material, meaning that it can be magnetized. In contrast, copper-coated steel coins (also known as “copper pennies”) are not ferromagnetic and will not stick to a magnet. So, if you’re ever wondering whether a particular coin is magnetic, try testing it with a magnet.
How much is a 1944 copper wheat penny worth?
A 1944 copper wheat penny is worth between 20 cents and 50 cents if it is circulated, and between $6 and $8 if it is uncirculated. The value of a coin depends on its condition, rarity, and desirability. Coins with errors are also more valuable.
Is there a 1944 Silver Penny?
While there is no such thing as a 1944 silver penny, there are steel pennies sometimes referred to as silver pennies because of their color. Because steel is less reactive than copper, the steel pennies tend to tarnish more quickly and take on a silvery color. So while there is no such thing as a 1944 silver penny, the steel pennies from that year are sometimes called silver pennies because of their unique color.
How many 1944 steel pennies are left?
It is estimated that there are 20 to 40 steel cents still in circulation. If you think you may have a steel cent in your possession, it is important to have it authenticated by a professional coin dealer. The low supply and high demand has resulted in steel pennies from 1944 selling for hundreds or even thousands of dollars. If you’re lucky enough to have one of these rare coins, you may be sitting on a small fortune!