Legend Sells Lincoln Cent Rarity for Record $1.7 Million, Proceeds for Charity

by Legend Numismatics on September 23, 2010 · 2 comments

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.

1943-dated Lincoln cent on Bronze Planchet

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. (Photo credit: Legend Numismatics.)

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.

"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.

{ 2 comments… read them below or add one }

marilyn yurechka February 25, 2012 at 4:51 pm

My sister and I had a 1943 D copper cent, 1 1937 3 legged buffalo, a 1955 double strike nickel, a 1944 D D/s. stolen after an arson fire to my home Dec 2006. in NJ. MY sister’s collected coins, hers and from dad and an uncle years ago.
The box of 100 small coins including a Cartier silver 99,9% ingot was recouped by police who denied having. In Sep 2010 someof these coins authorized for sale at County Auction as abandoned property, did not make it and were stolen from Evidence Room PD. Entire scenario covered up by police and DA. Superior Court said to get writ of replevens and take cops to court but lawyers folded. Then heard same coin bought/sold anonomyous transactions Sep 23, 2010. Ombudsman;s offiece sent us letter Sept 27, 2010 why did we not return to Court and file claim. Too coincidental. Legend auctions refused to talk to us saying their coin was tracked. NJ will not release the incomplete purchase order to us citing no record of any thefts from our home. They think SIS is a throwaway person becuase of
her being hemiplegic in a wheelchair and does not need to have anything.

Coincidence in the coins being sold in NJ? Charity donation? proceeds what charity and why the secrecy?

Mary Tatum March 12, 2012 at 11:10 am

Can you recommend an appraiser in my area? I have many coins, some very old.

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