Copper-plated coins are attracted to magnets because of the iron content of the steel core, whereas bronze coins are not magnetic.
The easiest way to determine if a 1943 cent is made of steel, and not copper, is to use a magnet. If it sticks to the magnet, it is not copper. If it does not stick, the coin might be of copper and should be authenticated by an expert.
A steel penny is the only one that will stick to the magnet. Here's the magic part (drumroll please). If a penny sticks to the magnet, check the date. A 1943 circulated penny that sticks is worth 10 cents or so.
The 10, 20 and 50 cent coins have no magnetic properties. The 1, 2 and 5 cent coins have a strong magnetism all over their surface.
The easiest way to determine whether or not your 1943 Cent has collectible value—to see if it is possibly bronze rather than steel—is simply to test it with a magnet. If the coin is magnetic, then it is, unfortunately, the common steel version and is not valuable in most cases.
An easy way to detect if your coins is fake is to check to see if it's magnetic. Precious metals, such as gold, silver, platinum and palladium aren't magnetic, so if your coin is attracted to a strong magnet, such as an earth magnet, then you can be sure that it's fake.
Pure gold on its own cannot stick to a magnet. However, if you have an alloy of gold, then it could stick to a magnet. An example of a gold alloy that may stick to a magnet is gold with over 20% of its atoms replaced by iron.
Are There Any Coins (Besides The 1943 Steel Cent) That Are Magnetic? The 1943 steel cent is the only regular-issue United States coin that contains enough iron to be magnetic. While nickel is also magnetic, there isn't enough nickel in standard United States coins to make them magnetic.
Silver is not magnetic, not even with the strongest magnet. However, silver is diamagnetic. If you hold a silver coin at 45 degrees a suitable magnet will slide down it slowly.
A 1958 Lincoln, Doubled Die Obverse cent sold in a GreatCollections auction has become the first Lincoln cent and first non-gold 20th century coin to sell for more than a million dollars. Still don't understand why that would make it super-valuable?
It does not have a magnetic field. A nickel doesn't even stick to a magnet. In fact, no current coins from the United States are attracted to magnets.
Since gold is both paramagnetic and diamagnetic, both cancel one another out and become weak. So a strong magnet will attract gold ever so slightly and will also repel it.
Coins are made of different materials, which is why some are magnetic, and others aren't. The most common metal in coins is copper, which is not magnetic. Other metals commonly used in coins, such as aluminum and nickel, are not magnetic. However, some coins do contain magnetic metals such as iron and steel.
Coin Unique is one of the great coin tricks. A one pound coin and a penny are placed into your hand, or under a glass, and with a shake, the penny visibly disappears. No sleight-of-hand, no funny moves. The coin does all of the work for you and IT CAN BE EXAMINED.
The best way to determine if your coins are silver is to view the edge of the coin. If the coin has a solid silver stripe, then you can feel confident that it's silver. If you can see a copper stripe, then the coin is clad. A more subdued silver stripe with faint traces of copper could mean that the coin is 40% silver.
The 1944 steel wheat penny could be worth as much as $408,000 in mint condition, and up to $10,000 in average condition, the site said.
The 1959 D Lincoln Mule Memorial penny remains one of the most controversial and rare coins. Though not graded, it remains one of the rarest coins. The penny is worth about $50,000. 1959 pennies you need to look for!
Yes, the PCGS-graded 1943 and 1943-S copper pennies were priced at $1 million, and the 1943-D copper penny was priced at $1.5 million. Today at auction, the standard 1943 copper penny can sell for $100,000 to $250,000.