Rare 1943 Steel Penny : In a story that sounds more like a scene from a Hollywood treasure hunt than real life, a retired postal worker from Pennsylvania made the discovery of a lifetime when he stumbled upon a rare 1943 steel penny—valued at $875,000—in his late father’s dusty fishing tackle box.
A Simple Cleaning Project Turns Into a Historic Find
James Rutledge, 68, had recently retired from his job with the U.S. Postal Service and decided to spend some of his newfound free time organizing items left behind by his father, a World War II veteran and avid fisherman. While sorting through an old metal tackle box in the garage, he found what he thought was a typical handful of coins tossed in among rusted lures and sinkers. But one particular coin stood out.
“It didn’t look like a regular penny,” Rutledge said. “It was kind of silvery, lighter than the others, and it just felt… different.”
That small, silvery coin turned out to be one of the rarest U.S. coins ever minted—a 1943 Lincoln penny mistakenly struck in bronze-coated steel, an anomaly that only a tiny handful of collectors have ever seen in person.
What Makes the 1943 Steel Penny So Rare?
During World War II, copper was in high demand for ammunition and military supplies. As a result, the U.S. Mint switched from copper to zinc-coated steel for pennies in 1943. These coins had a distinctive silver-gray color and were often mistaken for dimes.
But what makes this particular 1943 steel penny so valuable is not just its composition—it’s a rare error coin that shows both copper traces and steel content, suggesting it may have been struck during the transition period or using leftover bronze-coated blanks.
According to numismatic experts, only a small number of these transitional-error pennies were ever produced, and even fewer survive in mint or near-mint condition. Rutledge’s coin, remarkably well-preserved despite decades in a tackle box, was authenticated and graded as MS64 (Mint State 64) by the Professional Coin Grading Service (PCGS).
A Coin Collector’s Dream—and a Family Legacy
Once authenticated, the coin was appraised at $875,000, drawing interest from several private collectors and coin investment firms.
“I still can’t believe it,” Rutledge said. “My dad probably tossed that penny in there 50 years ago, thinking nothing of it. Now it’s the most valuable thing in our family’s history.”
The family plans to auction the coin later this year, with proceeds going toward establishing a scholarship fund in his father’s name for veterans studying environmental science—combining the elder Rutledge’s love of nature, fishing, and country.
Everyday Treasure Could Be in Your Hands
This remarkable discovery is yet another reminder that valuable coins aren’t always found in display cases or bank vaults. They can show up in drawers, jars, books, and even old tackle boxes.
If you have a 1943 penny—or any old coin with unusual color, weight, or wear—it might be worth a closer look. Coin experts recommend using a magnet (steel cents stick to magnets; copper ones don’t), checking for mint marks, and consulting a reputable grading service if you suspect a rarity.
Final Thoughts
James Rutledge’s discovery of a nearly million-dollar penny in his father’s fishing gear is a powerful reminder that history often hides in the most ordinary places. A forgotten coin, long overlooked, turned out to be a symbol of family, legacy, and unexpected fortune.
So next time you’re cleaning out the attic, sorting a jar of change, or dusting off old keepsakes, take a second look. Because as this retired postal worker found out, one tiny penny could change everything.
FAQs: Retired Postal Worker Discovers Rare 1943 Steel Penny Worth $875,000 in Father’s Tackle Box
Q1: What makes the 1943 steel penny so rare?
A: Most 1943 pennies were made from zinc-coated steel due to wartime copper shortages. However, a few error coins were struck using leftover bronze or copper-coated blanks, or show unusual variations in their composition. These rare versions—especially in near-mint condition—are extremely valuable to collectors.
Q2: How can I tell if my 1943 penny is valuable?
A:
- Check the color: Regular steel pennies are silver-gray. Rare copper/bronze ones will appear brown or reddish.
- Use a magnet: Steel pennies stick to magnets; copper ones do not.
- Check the weight: A steel cent weighs about 2.7 grams; copper cents weigh about 3.11 grams.
- If your 1943 penny is copper and not magnetic, have it professionally authenticated—it could be worth a fortune.
Q3: Is it true that some 1943 pennies are worth nearly $1 million?
A: Yes. Certain 1943 bronze or transitional error cents have sold at auction for $250,000 to over $1 million, depending on condition and provenance. The coin discovered by the retired postal worker was appraised at $875,000 due to its exceptional state and rarity.
Q4: Where can I get my 1943 penny evaluated?
A: You can submit your coin to professional grading services such as:
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PCGS (Professional Coin Grading Service)
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NGC (Numismatic Guaranty Company)
These services will authenticate, grade, and encapsulate your coin, which helps determine its value.
Q5: Should I clean my old coins before selling them?
A: Absolutely not. Cleaning coins can scratch or damage the surface and significantly reduce their value. Collectors and graders prefer coins in their original, unaltered condition.