There were over a billion pennies minted in 1943 out of steel coated with zinc. In circulated condition, they'er worth about 5 cents. What you are probably confusing this with is the rare 1943 COPPER penny. A few dozen of these were accidently made in 1943 from old copper blanks. These sell for tens of thousands of dollars. They are also highly counterfeited -- usually by copper plating a steel 1943 cent -- check with a magnet to eliminate 99% of the fakes (a real one will not stick to a magnet).
It depends on which country we are talking about. For the US, there is only one magnetic coin the 1943 steel penny. For Canada, there have been some magnetic pennies made since 2000, though there were zinc pennies made until 2008. For the UK, pennies have been magnetic (copper plated steel) since 1992.
Copper and zinc-plated pennies do not rust, because they're not made of iron. The only American pennies that could rust were the steel cents struck in 1943. You might believe that a penny is rusting but instead it is corroding! Yes, it does not rust it just corrodes.
A genuine 1943 copper cent is worth tens of thousands of dollars, but a lot of what's out there are fakes. An easy way to tell the difference between a real and fake is that the real thing is NOT magnetic. Pennies that year were made of steel, and the fake copper ones are usually copper-plated steel cents.
The US never made steel nickels. All wartime nickels were made of an alloy of copper, manganese, and silver. You may be thinking of the famous 1943 cents that were struck from scrap steel.
Pennies are supposed to be all copper through 1981. In 1982 some are and some are not, and after 1982 all are clad.CorrectionThe last 100%-copper cents were struck in 1857. Since then the composition of the cent has been changed many times, starting with a copper-nickel alloy from 1857 to 1864, then various varieties of bronze (95% copper), steel (1943), and eventually copper-plated (not clad) zinc beginning in mid-1982.
1943
Steel pennies were only minted in 1943, however some examples of steel pennies being struck in error in 1944.
Steelies. Short for "steel cents." Copper was needed for the war, so pennies were cast out of steel.
No, most wheat pennies are made of copper. Only the 1943 pennies were made from zinc coated steel. There were about 40 made from copper in 1943 and they bring up to $82,000 each!
Steel-plated zinc.
There are no exact records of the number of copper pennies made in 1943. It was about 40. Most pennies that year were made of steel.
Steel pennies were made in 1943 not 1941.
1943 to save copper for the war effort.
It's made of steel, as were nearly all 1943 pennies due to WWII copper shortages. Please see the Related Question for more information.
1943 pennies are not silver. They are zinc coated steel. Copper was saved for war effort.
The 1943 US pennies were steel, not platinum. Their worth depends on condition.
The US never made silver pennies. In 1943 the US made steel pennies. These are often mistaken for silver pennies.