What is the value of a 1943 black wheat penny?

Answer 1

A 1943 Copper penny can be worth well over $100,000. They are unbelievably rare and very few passed inspection. In order to tell if it is actual copper, put a magnet to it, if it sticks, it is not copper and worth only $2.00.

More, and correctionIt's likely that the coin is black because the zinc coating that protected the underlying steel has oxidized over the last 70 years. In that case your coin has value pretty much only as a memento, maybe 50¢ or so.

As for the chance that it's copper, no additional 1943 copper cents have been found in over 2 decades so it's extremely unlikely to be one of those rarities. As the previous poster noted, use the magnet test to verify.