U.S. Coins and Jewelry acquires one of the rarest circulating coins in U.S. Mint history

U.S. Coins and Jewelry has acquired a 1943 bronze Lincoln cent – one of an estimated 20 known to exist – that a Houston-area family held unverified for more than 60 years. Professional Coin Grading Service (PCGS) graded the coin Extra Fine, cert. 54723120, and values it at $235,000.

The family purchased the coin from a collector in the early 1960s and never had it authenticated. They brought it to professional appraiser Alvin Stern, who worked with them to get it certified by PCGS. Stern then offered the coin for sale to U.S. Coins and Jewelry, and co-owner Kenny Duncan Jr. seized the opportunity to purchase it for display at his Katy Freeway showroom in Houston. 

“Having an example of this ultra rarity is a dream of a lifetime,” Duncan said. “Few examples are ever offered, and outside of the Smithsonian and American Numismatic Association collections, getting to view one is a privilege few get. Now Houstonian collectors and enthusiasts can come out and see this one in our store.”

Duncan has examined thousands of 1943 cents brought in by people who believed they owned the rare version, he said. All of them proved to be steel cents or copper-plated pieces. U.S. Coins and Jewelry has operated in Houston since 1985, and the coin is the first genuine 1943 bronze cent the store has owned.

During World War II, in an effort to conserve copper for the war effort, 1943 cents were struck in steel. More than a billion of these “steelies” were struck across the three U.S. mints. But a few old copper blanks remained in the presses and were struck with the 1943 date. The result is one of the best-known rarities in American numismatics. 

The coins are steeped in lore, starting with the mid-century rumors that Henry Ford would give a new automobile to the first copper example found. Ford denied such claims, but the rumors persisted. In 1947, a copper example was discovered by a teenager who received it in change at his high school cafeteria. Since then, only a handful of examples have been discovered, and they are rarely offered for public sale. The coin is listed among the top few in 100 Greatest U.S. Coins, published by Whitman Publishing.

“The 1943 bronze cent is one of the most frequently submitted and most widely misidentified coins we see,” said PCGS President Stephanie Sabin. “The overwhelming majority turn out to be common steel cents or copper-plated counterfeits. Confirming a genuine example, as we did with the XF40 specimen, is rare. 

“The story behind this amazing 1943 bronze cent -- held by the same family for more than six decades -- shows there are indeed real treasures out there. It's always a thrill for us to authenticate and grade those submitted to us by those lucky collectors, and we wish you the best of luck in finding a genuine 1943 bronze cent.” 

The coin will go on public display in U.S. Coins and Jewelry’s second-floor showroom at 8501 Katy Freeway in Houston beginning Saturday, Oct. 3. The store is open Monday through Friday from 10 a.m. to 5 p.m. and Saturday from 10 a.m. to 3 p.m.