Spot This Valuable Penny in Your Change and It Could Be Worth $85K

Naturally, such value attracts counterfeiters. Where there’s money, there are fakes. And people unfamiliar with coins often fall for scams because the differences are subtle unless you know what to look for.

One common scam is turning a 1948 penny into a fake “1943” by reshaping the “8” to look like a “3.” To an untrained eye, it looks convincing.

Another scam involves coating a regular 1943 steel penny—the common gray one—in copper. It looks real at first glance: same size, same shine, same date. But underneath, it’s still steel. And steel behaves differently from copper.

Here’s the simplest test you can do: hold a magnet to the coin.

Copper isn’t magnetic.
Steel is.

If the coin sticks to a magnet, it’s fake—either a copper-coated steel penny or a manipulated coin. This quick test has saved collectors thousands of dollars.

Other methods exist—checking weight, analyzing metal content, or examining thickness—but the magnet test is the easiest for most people.

What many don’t realize is that countless old jars, inherited collections, and dusty attic boxes might hold one of these rare pennies without anyone knowing. People used coins so casually in the 1940s that many copper 1943 pennies entered circulation unnoticed. Some may have been tossed into drawers by returning soldiers. Others stayed hidden in wallets or old tins until their owners passed away.

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