1943 Copper Lincoln Cent by Rick Saphire

1943 Copper Lincoln Cent Controversy Revisited

www.RickSaphire.com

To coin collectors and fortune hunters worldwide, the 1943 Lincoln cent has been a subject of controversy and curiosity. Although the United States Mint denies, to this day, that there were any Lincoln cents struck in copper that year, the search for the elusive 1943 copper Lincoln penny continues. Yet, several of these pennies have been “authenticated” by some of the country’s most respected coin rating agencies. Since the 1950s, these rare coins have sold for as much as USD 1,700,000. An intriguing part of the search for the 1943 copper penny is the story about how these unofficial coins might have come into circulation. In this article, I will attempt to unravel the implausible “facts” and provide a plausible explanation.

A CASUALTY OF WORLD WAR ll

When the United States entered World War II, there was a demand for copper that was much needed to make munitions and equipment for our armed forces. On December 25, 1942, the Associated Press reported that Secretary of the Treasury Henry Morgenthau stated that the mint would cease production of the copper Lincoln cent, and it would be replaced in 1943 by a steel-based coin coated in zinc. This changeover was the result of an emergency directive from the President of the United States. The following day, the Director of the US Mint, Nellie Tayloe Ross, announced that the new steel cents would go into production on or about February 1, 1943.

Long before the official announcement of the new steel penny, metallurgists around the country had spent many weeks experimenting with various mixtures of different metals to come up with a serviceable, non-copper penny. The obverse and reverse sides of the coin would be identical in design to the 1942 version (except for the date), but the 1943 steel cent looked like a silver coin until it quickly began to deteriorate. The new 1943 steel Lincoln Penny turned out to be the most hated coin minted in the history of the United States coinage. Resembling a dime or a shrunken nickel, the steel coin was often mistaken for a ten-cent piece. Because the 1943 one-cent coin was lighter in weight than the traditional penny, it did not function properly in vending machines, often jamming the systems. Additionally, not only did the shiny, silver zinc surface quickly wear off the coins, giving them a dirty, dark look, but the bare steel eventually began to rust. Ultimately, the new coin turned out to be a failure and was reviled as the nation opted to use the old copper coins; millions of 1943 steel coins were hoarded as collectibles, creating a shortage of pennies.

Interestingly, in 1942, before any production of the steel 1943s began, it was reported that Nellie Tayloe Ross discussed with Kansas Senator Arthur Capper her concern that the chosen zinc-coated 1943 steel coin materials needed to be darkened to look like copper, but the experiments did not come up with any durable solution.

On October 23, 1943, Nellie Tayloe Ross announced that minting of the disastrous steel cent would cease by year’s end and that on January 1, 1944, the creation of yet another variation of the Lincoln cent would begin. Once again, the scientists went back to work with a difficult task. The new 1944 cents were struck on planchets (coin blanks) made from a concocted metal mixture comprised of scrap copper salvaged from expended shell casings gathered from military proving grounds and rifle ranges. A small amount of virgin copper was added to the mix. Despite having an ample supply of the new 1944 copper compound, the three US Mints could not implement this turnover by the advertised date. The new copper Lincoln penny finally debuted early in 1944, and all was well with the world…until 1947!

As a sidebar to this story, one group of people found the 1943 penny quite useful. All US coins are made from non-ferrous metals (non-magnetic), except for the 1943 steel cent. Made from steel, an iron alloy, a magnet easily picked it up. Even today, magicians will “copper coat” steel 1943 steel cents to make them vanish with a hidden magnet.

THE URBAN LEGEND

In mid-1947, an urban legend sprung up across the USA and Canada. One story variation held that a local car dealership would give away a new Ford in trade for a 1943 copper cent. The result was that hundreds of letters were sent to Ford’s offices, along with the first wave of counterfeit 1943 copper-coated cents. No evidence supports that any automobile dealership or car manufacturer advertised this offer, but that’s what urban legends are made of. While Ford Motor Company was dealing with the hoax, it was also dealing with a labor dispute. Could the rumors have been fueled by protesting or striking Ford workers in mid-1947? That’s an absolute maybe.

Altered coins sent to Ford and brought to rare coin dealers that year were copper-coated steel cents. A simple “magnet test” instantly uncovered the fakes. In 1948, counterfeiters altered the “8” on the 1948 date to make it look like a “3”; however, a sharp eye and a magnifying glass easily exposed the deception.

The phony Ford giveaway prompted government officials and directors of the US Mints to announce repeatedly that there were no copper cents struck in 1943. Coin collectors, undaunted, continued the hunt for the phantom coin.

THE NEW REALITY?

It was not until the 1950s that the first 1943 copper cent was “authenticated” by a private coin grading company. Since then, a small number of additional 1943 copper cents have surfaced and have been “verified.” Since the Treasury Department and the Mint directors deny that any 1943 copper cents were created for circulation by the Mint, how is it possible that these coins exist?

THE EXPLANATION WE’VE GROWN TO ACCEPT

The generally accepted explanation, as told by the “experts” from coin authentication agencies and auction houses as well as published articles in newspapers and magazines over the decades, is that when the US mint switched to steel cents in 1943, several copper planchets left over from 1942 were either accidentally left in the coin press or in the rolling carts that carry the raw planchets to the presses. The copper blanks were then pressed into Lincoln cents and made their way into circulation.

HERE IS WHY IT DIDN’T HAPPEN THAT WAY

It is naive to believe that such errant copper coins would get past several trained government inspectors, especially since the visual difference between the old brown copper and new silvery steel coins was glaring. The idea that this happened simultaneously at all three different mints is also absurd. The generally accepted story is oversimplified and preposterous. What is most disturbing is that this story has been reported and accepted throughout the decades without question.

Minting of 1942 copper cents was discontinued at year’s end, and the 1943 steel cents went into production, beginning in Philadelphia on February 14, 1943. Therefore, the mint workers had a great deal of time to clean and service the presses, replace the old dies with the new ones, inventory any leftover copper planchets, and clean the carts and bins which were likely used for other coins in production between December 31, 1942, and February 14, 1943. It is even possible that the presses were used to mint other coins in the interim. Once again, the generally accepted “accidental copper minting” theory is fiction, but there’s more.

Preparation for manufacturing the new 1943 steel cents required more than just the mere change of dies with the new date. The coin presses had to be retooled to accommodate the density change of the new steel mixture. Along with other adjustments, greater pressure had to be applied to strike these steel coins. To help facilitate this process, the obverse and reverse dies were set slightly closer together. The 1943 presses were set up specifically for steel planchets, not copper. As such, any “leftover” 1942 copper planchets would likely not fit properly into the 1943 presses. The changeover process from copper to steel cents was complex and carefully monitored. Had 1942 copper planchets accidentally been struck with the 1943 set-up, the resulting coins would have been imperfect and could not have passed any inspection.

Since the late 1940s and up to the present, varied stories of how the phantom pennies came into being have persisted. These published accounts all have a few important facts in common: They are unfounded, unverified, and attempt to give value to a coin that the United States Government claims has never existed.

THE CONVINCER

The unveiling of the unique 1943 steel cent with its tie-in to the war effort received a great deal of media attention. On February 27, 1943, the United Press reported the ceremonial debut of the new steel and zinc Lincoln penny. Leland Howard, Assistant Mint Director, delivered the first quantity of the new coins to United States Treasury officials. An article published in the Philadelphia Inquirer on March 14, 1943, stated, “In accordance with tradition, the first of the new coins were sent to the Treasury to be put on ‘sale.’” These first specimens produced by the virgin dies were highly collectible. The Treasury Department “sold” them to coin collectors and other interested parties. These first-run cents (many thousands of them) were traded dollar for dollar with no additional fees in Mint rolls of 50 coins or individual coins. No date was given for the actual release of the new coins to the banks for subsequent circulation. However, Mint Director Nellie Tayloe Ross said distribution would begin “when the need for coins arises.” Till then, the remaining 1942 copper Lincoln cents would continue to be put into circulation by the banks.

JUST COMMON CENTS

Could 1943 copper cents be the result of leftover 1942 planchets magically and mistakingly entering the presses in all three mints in early 1943 and all simultaneously? Could the government inspectors make such an oversight simultaneously at all three mints? The answer is “NO!” That myth was invented years after 1943 in an effort to explain the “authenticity” of spurious copper 1943 pennies. That fairytale is still embraced today by the media and coin grading agencies, not by the US Mint.

Various mixtures of “gun-shell copper” were tested in 1943 to decide what compound would be used to produce the upcoming 1944 copper Lincoln cents. Copper Lincoln prototypes were struck at the three US Mints by authorized labs using existing dies. These sample 1943 copper coins would have been struck from used (and in some cases worn) 1943 dies designed to strike the 1943 steel planchets. Such testing was an accepted procedure when new metals were to be used to make US coins.

Any laboratory samples would have been imperfect at best and never considered legal tender. Copper prototypes dated 1943 could have been taken from the testing facilities, and some such coins (if they actually existed) could have been put into circulation through spending or sold as desirable collectibles. Although a small number of 1943 copper coins have been certified as “genuine” Lincoln cents by trusted coin grading services, the United States government has always denied the existence of any such coins. The ban on copper pennies in 1943 resulted from a federal law imposed by President Roosevelt.

IN CONCLUSION

Wikipedia claims “counterfeit” means “to imitate something authentic, with the intent to steal, destroy, or replace the original, for use in illegal transactions, or otherwise to deceive individuals into believing that the fake is of equal or greater value than the real thing.”

The Wikipedia description makes one point perfectly clear. There are no “counterfeit” 1943 copper Lincoln cents. Since 1942, US mints have widely accepted that no 1943 copper cents were produced for distribution. As such, there can be no counterfeits of “the real thing.” Even the often-used term “replica” does not apply, as you can not replicate something that does not exist. Any existing “1943 copper Lincoln cents” can only be described as “samples,” “prototypes,” or “novelties.”

By numismatic definition, a “coin” is minted by a sovereign government to be used as legal tender. It must have a minimum face value. If the “coin” does not meet these criteria, it is classified as a “round.” Private mints, which produce gold, silver, and copper pieces for investments or as collectibles, are producing “rounds.” Because the United States Government did not authorize the production of a 1943 copper Lincoln cent, any such manifestation would be considered a “round.”

Caveat Emptor (Let the Buyer Beware)

Since the 1950s, several purported 1943 copper Lincoln cents have been bought and sold. Although some or all of those “coins” have been certified as “genuine” by professional coin grading services, none of those collectibles could be classified as U.S. legal tender, and none of them have been traced to a source of manufacture and distribution. They just seem to exist. At least one of these items was reportedly sold (or traded) for $1,700,000 in 2010. Can a 1943 copper Lincoln sample or prototype be sold or traded legally for as much as $1,700,000 in value? Of course, but that would be between the seller and the buyer. At best, such “rounds” could only be certified as a “genuine sample” or “genuine prototype,” but only if there are government records indicating the actual existence of 1943 copper Lincoln cent prototypes or samples. Any existing government samples or prototypes would need to be used by coin grading services to make reliable comparisons. No copper Lincoln cent dated 1943 can be certified as a genuine coin because the U.S. Government banned their manufacture and denied their existence. They are not legal tender and have no face value. The problem is that influential professional coin grading services have certified particular 1943 copper Lincoln cents as “genuine” without the luxury of ever having seen one!

1943 Copper Lincoln Cent Controversy Revisited

Email: Rick@RickSaphire.com

www.RickSaphire.com