They don't call pennies lucky for nothing, just ask an avid coin collector. There have been many a times when a coin turned out to be worth a lot more than their face value, and apparently there are still a few circulating out there.
In the past, American coins featuring unique designs have been sold for large amounts of money, some bidders paid millions to get their hands on a rare coin.
Over the last few decades, the 1933 Saint-Gaudens Double Eagle was sold for $7 million, the 1913 Liberty Head V nickel for $4 million, while the 1804 Draped Bust dollar sold for $1 million.
Now, there's another expensive coin in circulation, but unlike the ones above, this one is a penny.
According to the American Numismatic Association, a nonprofit organization dedicated to the study of coin collecting, the rare 1943 one cent coin is one of the most sought-after items by collectors.
So what makes this coin a collectible and how much can you get for it?
In the early 1940s, circulating pennies used to be struck in zinc-coated steel because copper and nickel were needed for the Allied war. However, about 40 coins in 1943 were made using copper-alloy, and accidentally released into the coin supply.
Over the years, these pennies became collector's items, and their value continues to rise since they were first put up for sale in 1958. Back then, the seller raked in more than $40,000 for one of these rare coins. Then in 1996, another copper-alloy penny was sold to the highest bidder for $82,500.
Today, there are still a few of these precious one-cent coins around, and some are being auctioned off starting at $85,000.
There's a chance that you could have one of these pennies in your jar, and there are ways to help you can figure out whether or not it's the real deal.
According to the U.S. Mint, the easiest way to determine if you have the rare coin is by using a magnet. If the coin sticks to the magnet, then it is steel. If it doesn't stick, then there's a good chance that it may be copper and you can get it authenticated by an expert.
Make sure to check the date to ensure that the date is clearly visible, because some counterfeiters have been known to file down the 1948 penny to appear like "1943."
Have you ever come across a rare coin? Let us know!
