In the heart of the Midwest, a simple act of garage cleaning led to a life-changing discovery. What began as sorting through an old fishing tackle box ended with an unexpected jackpot—an ultra-rare 1943 steel penny that recently fetched $875,000 at auction.
Hidden Treasure in a Rusty Tackle Box
The incredible story starts with Frank M., a 72-year-old retired postal worker from Missouri. While going through his late father’s belongings, he stumbled upon a dusty tackle box filled with rusty hooks, tangled lines, and old fishing gear. But hidden in a small compartment, wrapped in wax paper, was something far more valuable—an unusual-looking penny.
At first glance, the coin didn’t seem like much. It was silver-colored and felt oddly lightweight. Curious, Frank took it to a local coin dealer, hoping it might have some value. What the dealer discovered left him stunned—it was a genuine 1943 steel Lincoln penny, one of the most talked-about coins in American numismatic history.
Why the 1943 Steel Penny Is So Valuable
During World War II, copper was a critical material needed for ammunition production. In response, the U.S. Mint temporarily switched from copper to steel for the 1943 penny. These coins were coated with zinc, giving them a silver-like appearance.
Although over a billion were produced, many have rusted away or been mistaken for dimes and discarded. Finding one in mint condition, like Frank’s, is incredibly rare. That’s what makes this coin so special—it’s not just old; it’s exceptionally well-preserved and historically significant.
Key Features of Rare 1943 Steel Pennies
- **Magnetic properties** – Steel cents are attracted to magnets, unlike copper coins.
- **Silver appearance** – A dull silver tone rather than copper-red.
- **Exceptional condition** – Little to no rust or wear significantly increases value.
- **Mint marks and striking errors** – Certain variations and misstrikes are even more valuable.
The Auction That Made Headlines
Once authenticated and graded, Frank’s penny was submitted to a prestigious coin auction house. The result was a bidding war that surpassed all expectations. What began as a modest estimate quickly skyrocketed as collectors around the world competed for the prized coin.
The final sale price? A staggering $875,000. The coin was purchased by a private collector who recognized its rarity and flawless condition.
A Retirement Transformed
Frank admitted he had no idea the coin would be worth anything. “I thought maybe it could get me lunch,” he said jokingly. Instead, it transformed his retirement. His story has since gone viral, inspiring thousands of others to dig through their old coin jars and family heirlooms.
Could You Have a Rare Penny Too?
Unlike coins locked away in museums, the 1943 steel penny was once a common piece of pocket change. Though many have disappeared, experts believe there are still a few out there, forgotten in drawers, piggy banks, and—you guessed it—tackle boxes.
What to Look For
- Date: Check for “1943” on the penny.
- Material: If it looks silver and sticks to a magnet, it’s likely a steel cent.
- Condition: Coins with minimal rust, strong details, and no damage are highly valuable.
- Errors: Watch for rare minting mistakes or unusual features.
Final Thoughts: The Value of Forgotten Coins
Frank’s unexpected discovery serves as a reminder that valuable treasures might be hiding in the most ordinary places. The 1943 steel penny is more than just a wartime relic—it’s a symbol of how history and fortune can collide when you least expect it.
So next time you’re cleaning out a garage, sifting through an old coin jar, or organizing a forgotten drawer, take a closer look. That unassuming penny could be worth a small fortune—and maybe even change your life.