Unique Bronze 1943-D Lincoln Cent Sold for $1.7 Million by Legend
A one-of-a-kind Lincoln penny, mistakenly struck in 1943 at the Denver Mint in bronze rather than the zinc-coated steel used that year to conserve copper for World War II, has been sold by Legend Numismatics of Lincroft, New Jersey for $1.7 million to an unnamed Southwestern business executive. The coin’s anonymous former owner made arrangements for the entire sale proceeds to go to a charitable organization.
The only known 1943-dated Lincoln cent mistakenly struck at the Denver Mint on a bronze planchet has been sold for a record $1.7 million by Legend Numismatics of Lincroft, New Jersey. The unique coin, not publicly known to exist until 1979, is graded PCGS MS64BN.
The new owner is a Southwestern United States business executive who wants to remain anonymous, but who plans to exhibit this coin and others in January at the Florida United Numismatists convention.
He also purchased in the same transaction through Legend a 1944 Philadelphia Mint cent struck on a zinc planchet, graded PCGS MS64, for $250,000, and an experimental 1942 Philadelphia cent mostly composed of tin for $50,000. The unnamed new owner plans to exhibit these coins and others at the Florida United Numismatists convention in January.
(Photo credit: Legend Numismatics.)
“The 1943-D bronze cent is the most valuable cent in the world, and it took four years of aggressive negotiations with the coin’s owner until he agreed to sell it.”
“The new owner is proudly now the only collector to ever own the all-time finest and complete sets of Philadelphia, Denver and San Francisco 1943 bronze cents and 1944 steel cents,” said Laura Sperber, President of Legend Numismatics.
“The new owner is a prominent Southwestern business executive who’s been collecting since he was a teenager, searching through pocket change looking for rare coins. As a youngster he thought he’d actually found a 1943 copper cent in circulation but it was not authentic. He still has that in his desk drawer, but now he’s the only person to ever assemble a complete set of genuine 1943 bronze cents, one each from the Philadelphia, Denver and San Francisco Mints. He will display that set at FUN along with his 1944 Philadelphia, Denver and San Francisco zinc cents,” said Sperber.
The anonymous collector who formerly owned the coin “donated it to a charitable organization so they could sell it with all of the proceeds going to the charity,” according to Andy Skrabalak of Angel Dee’s Coins and Collectibles in Woodbridge, Virginia who acted as agent on behalf of the former owner.
“As a specialist in small cents, this transaction is the ultimate accomplishment for me and I’m privileged to be part of it. I don’t think it will ever be duplicated in my lifetime,” said Skrabalak.
Zinc-coated steel was used for producing cents in 1943 to conserve copper for other uses during World War II, but a small number of coins were mistakenly struck on bronze planchets left over from 1942.
“We estimate that less than 20 Lincoln cents were erroneously struck in bronze at the Philadelphia and San Francisco Mints in 1943, but this is the only known example from the Denver Mint,” explained Don Willis, President of Professional Coin Grading Service.
Sperber said the collector’s historic, mis-made World War II era cents will be displayed during the first three days of the FUN convention in Tampa, Florida, January 6 – 8, 2011.
For additional information, contact Legend Numismatics at (800) 743-2646 or visit online at www.LegendCoin.com.
News media contacts:
Laura Sperber, President of Legend Numismatics who obtained and sold the $1.7 million 1943-D bronze cent, Office (732) 935-1795
Andy Skrabalak, Owner of Angel Dee’s Coins and Collectibles and agent for seller of the unique coin, Office (703) 580-6969
Don Willis, President of Professional Coin Grading Service, the company that authenticated the unique cent, Office (949) 567-1154
About the Author
Since 1987. Legend Numismatics has been building an unequaled reputation among casual collectors and avid investors alike by locating and procuring top quality rare coins. Exceptional coins are always in demand - and we believe you should never settle for anything less than the highest quality coin at the best possible value.
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