Investment and Financial Markets

How to Tell if a Penny is Made of Steel

Uncover definitive ways to identify a steel penny. Learn how to accurately determine if your unique coin is genuinely steel.

While most U.S. pennies are copper-brown, steel pennies are a unique exception with a different look. Identifying these coins requires understanding their composition and characteristics. This article provides guidance on how to determine if a penny is a steel issue.

Understanding Steel Pennies

Steel pennies are U.S. one-cent coins minted exclusively in 1943. This unique composition resulted from World War II demands, as copper was a strategic metal needed for military equipment. To conserve copper, the U.S. Mint produced pennies from steel.

These wartime cents are 99% steel with a thin zinc coating. This coating was applied to prevent rust, though it often proved ineffective in circulation. The change in material gave these pennies a distinct appearance.

Visual Identification

Steel pennies possess a distinct silver-gray or dull silver appearance, which contrasts sharply with the reddish-brown color of most copper pennies. Their metallic sheen can sometimes lead them to be mistaken for dimes due to their similar size and color.

All genuine steel pennies are dated 1943. Over time, the zinc coating on these pennies could wear off or corrode, often resulting in rust spots or a dull, tarnished appearance. This corrosion occurs because the zinc coating did not fully cover the coin’s edges, leaving the steel susceptible to moisture and oxidation.

Physical Testing

Physical tests offer definitive confirmation of a steel penny. The primary method involves a magnet. Steel pennies are magnetic due to their steel core, a unique feature among U.S. coins. A strong magnet will readily attract a genuine steel penny, making it an easy and quick test.

Steel pennies also differ in weight from their copper counterparts. A steel penny weighs approximately 2.7 grams, while a traditional copper penny (those minted before 1982, excluding 1943) weighs about 3.11 grams. The magnet test remains the most straightforward and conclusive method.

Common Misidentifications

Several scenarios can lead to a penny being mistaken for a steel penny, despite not being a genuine 1943 issue. Pennies minted after 1982 are primarily composed of a zinc core with a thin copper plating. If the copper plating on these modern pennies wears off, the underlying zinc can be exposed, giving the coin a silver or gray appearance similar to a steel penny. However, these zinc pennies are not magnetic.

Similarly, heavily corroded or discolored copper pennies can sometimes be confused with steel pennies due to their altered hue. To differentiate, always check the mint year and apply the magnet test. A genuine steel penny will always be dated 1943 and will be attracted to a magnet, while corroded copper pennies will not. Furthermore, counterfeit attempts sometimes involve plating regular steel pennies with copper or altering dates on other copper pennies, making the magnet test and date verification crucial.

Previous

What Is a Certificate Annuity and How Does It Work?

Back to Investment and Financial Markets
Next

How Fast Is Wiring Money Between Banks?