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No coins have been made of steel, so you need not worry about it. Coins are copper, gold, brass, silver or some combination. There have even been beads used as coins, rocks, seashells, tobacco through out history. If a coin is attracted to a magnet it's made of a magnetic metal such as steel or nearly pure nickel. The magnet test will eliminate coins made out of silver, gold, bronze, brass, and lower-purity nickel such as U.S. 5¢ pieces. Beyond that you may have to research the specific coin to determine when it was struck, or have what's called a specific-gravity test performed to determine if its density matches that of steel. Steel is being used more and more in making coins because it's inexpensive and readily available. The U.S. only used steel once, in 1943 when cents were made out of steel to save copper for use in ammunition. Other countries such as the UK, Canada, and the EU currently use steel for their low-denomination coins.

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16y ago

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