1944 Penny Might Be Worth $110,000 — Look for This Missing Mark!

Published On: July 20, 2025

Are you sitting on a small fortune without knowing it? That old penny you just picked up could be worth more than a new car—or even a house. Specifically, the ultra-rare 1944 steel wheat penny has stunned collectors by selling for over $110,000 at auction. And the kicker? It looks just like any other penny at first glance.

So, what makes this coin so valuable, and how can you tell if you’ve got one? Whether you’re a casual collector or just found some change in an old jar, here’s everything you need to know.

Background

Most 1944 pennies were made of copper. But during World War II, copper was needed for war supplies, so in 1943, the U.S. Mint used steel coated with zinc. When 1944 came around, the Mint switched back to copper—except for a few accidental steel strikes.

These steel 1944 pennies are one of the biggest minting mistakes in U.S. history. Experts estimate only 25 to 30 authentic examples exist today, which explains the sky-high value.

Here’s a breakdown of the coin’s key features:

Feature	Details
Rare Coin	1944 Steel Wheat Penny
Estimated Value	Up to $110,000+ (varies by condition)
Reason It’s Rare	Made from leftover 1943 steel blanks by mistake
Identification Tips	Magnetic, silver-gray color, 2.7g weight, no mint mark
Known Examples	About 25–30 in existence
Top Auction Record	$180,000 (mint condition)
Authentication Services	PCGS, NGC, ANACS

Value

The value depends on your coin’s condition. Here’s what you can expect if yours is real:

Condition	Estimated Value
Fine (F12)	$20,000–$35,000
Extremely Fine	$35,000–$50,000
About Uncirculated	$50,000–$75,000
Mint State (MS60+)	$75,000–$110,000+

Coins in flawless shape are worth the most, especially if certified by PCGS or NGC.

Tests

Think you’ve spotted a 1944 steel penny? Here’s how to check if it’s the real deal.

1. Check the Date and Mint Mark
Make sure it says “1944.” No mint mark means it’s from Philadelphia—the most common version. A “D” or “S” mint mark means it’s from Denver or San Francisco and is even rarer.

2. Try the Magnet Test
Grab a magnet. If the coin sticks and is from 1944, that’s a great sign. Copper coins won’t stick to magnets—steel ones will.

3. Look at the Color
Steel pennies have a silver-gray look, while copper ones appear reddish or brown. Dull silver? That’s promising.

4. Weigh the Coin
Use a jewelry scale. Steel pennies weigh about 2.7 grams, while copper ones are 3.11 grams. The lighter weight could signal you’ve struck gold—well, steel.

5. Watch for Fakes
Some people try to fake this coin by plating a copper penny in silver. Others alter 1943 steel pennies to look like 1944s. These fakes are usually not magnetic or the wrong weight.

Authentication

Even if your penny passes all the tests, you’ll need a professional opinion to confirm its value.

1. Use a Reputable Grading Service
Send your coin to one of these certified graders:

They will test the metal, grade the coin, and give it an official certification. This is essential if you plan to sell it.

2. Don’t Clean the Coin
Seriously—don’t even touch it more than you have to. Cleaning or polishing can destroy its value and reduce the grade.

Next Steps

Here’s your simple action plan if you think you’ve got a rare 1944 steel penny:

Use a magnet and scale to do a quick home test.
Take clear photos of both sides of the coin.
Bring it to a reputable dealer for a preliminary check.
Send it to PCGS, NGC, or ANACS for authentication.
If confirmed, consult an auction house to sell it.

Even if you don’t find the steel penny, this is a fun way to look into your change and maybe find something else rare along the way. So go on—dig through that old change jar or grandpa’s coin stash. You never know what treasures you might uncover.