TikTok user explains how to know if your pennies can be worth up to $840,000
Accidents happen and due to a minting error there are some pennies that can be worth up to $840,000. Find out how to know if you own one of them.
The saying goes “a penny saved is a penny earned.” But building a fortune thanks to one simple penny seems like a dream, but it is not an impossible task.
According to various experts on the subject, there are collectors willing to pay up to $840,000 dollars for a simple but strange one cent coin: These are the brass pieces of Abraham Lincoln from 1943.
What are pennies worth up to $840,000 like?
The Coin Channel, a TikTok profile dedicated to numismatics, assures that there are about 40 one cent coins from 1943 which could have that exuberant six-figure value thanks to a mistake when they were minted, making them one of the most sought after pieces by coin collectors.
The error is due to the fact that in that year the Mint stopped using bronze in the production of cents to preserve the material for World War II, so the manufacture of these coins It was made with zinc-coated steel plates. The last batch of bronze was printed accidentally, making the bronze Lincoln cents “the most famous error coin in American numismatics” , according to David Stone of Heritage Auctions.
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How to know if your pennies are worth up to $840,000
Due to their rarity, counterfeiting of these coins is a common practice among fraudsters. However, there is a fairly simple way to check if the penny in question is real. To do this, you must do the magnet test, if your coin does not adhere to it, chances are you have a bronze coin in your possession.
To be even more certain, bronze coins weigh about 3.1 grams, while steel pennies weigh about 2.7 grams, so it is recommended to weigh them as well.
Either way, if you think that you have the real deal, you should take it to a professional to authenticate it.
According to Coinhub, another account specialized in numismatics, of the 40 existing coins, only between 15 and 20 bronze Lincoln cents from 1943 have been discovered.