This is a nice story about a pretty penny! Fox News reported that “a penny that a Massachusetts teenager found in his change from lunch money could be worth as much as $1.7 million when it is auctioned off”.
The Lincoln penny is from 1943 and is made up of copper. It has been described as the “most famous” coin made in error, according to Heritage Auctions, which is auctioning off the coin. This rate coin is one of 20 that were ever made and for years the U.S. government said that it didn’t existent. One of the pennies was found by Don Lutes Jr. in his school cafeteria in March 1947.
During World War II in the 1940s, copper was considered a strategic metal because it was used to make wartime necessities such as shell casings, and telephone wire. To preserve the needed metal, 1943 Lincoln pennies were made of zinc-coated steel. A tiny fraction of the pennies was still put into circulation using copper.
Despite a large number of reported finds, the Mint steadfastly denied any copper specimens had been struck in 1943. Many stories appeared in magazines, comic books, and newspapers, that many fake copper-plated steel cents were passed off as fabulous rarities to unsuspecting purchasers.
Rumors began to emerge that some copper cents had made their way into circulation almost as soon as the pennies were pressed. These rumors were eventually proven true. The rumor was described as “the Holy Grail of mint errors”. The Philadelphia Mint has 10 to 15 of the 1943 Lincoln copper pennies. The San Francisco Mint has a half dozen, and the Denver Mint has one.
Here is a list of the top five most expensive pennies ever sold at auction:
Source: Money Inc.
In pawn shops around the nation, we receive treasures that have been in families for generations. You never know what you’ll find. Our advice is to check over things carefully to see the item’s worth. Also, take a trip to your local pawn shop to check out the rare finds.
Stop by one of Albert’s four locations to talk about pawning or selling your items for quick cash.
Albert’s has been family owned and operated since 1927. No matter what part of the Tri-Cities you’re in we have a location to serve you. With two locations in Johnson City (Albert’s Loan Office and Uncle Sam’s Pawn Liquidation), Albert’s Loan Office in Bristol and our newest store, Albert’s Pawn in Kingsport – getting top dollar for your items for pawn loans and finding that item you’ve been looking for at an unbeatable price has never been easier.