Most 1944 Wheat Pennies are made from bronze, just like every other penny from that year. But there’s one rare exception—the 1944-D Steel Wheat Penny. This little mistake by the Denver Mint has become one of the most legendary coins in U.S. history.
Only a handful are known to exist, and one even sold for a whopping $115,000. Here’s what makes this coin so valuable, how it happened, and how to tell if you might have one sitting in your collection.
Table of Contents
1944-D Steel Wheat Penny
In 1944, U.S. pennies were supposed to return to their pre-war bronze composition after the steel versions made in 1943.
However, a few leftover steel blanks from 1943 were accidentally used in Denver the following year. These coins still have the familiar “Wheat” reverse design but are silver in color instead of copper.
The “D” mint mark below the date tells us it was minted in Denver. While nearly all 1944-D pennies were made from bronze, a few steel ones slipped through unnoticed—until collectors and experts discovered them years later.
Why Is It So Rare?
Back in 1943, copper was in short supply because of World War II, so the U.S. Mint temporarily switched to using zinc-coated steel for pennies. In 1944, they went back to bronze. But somehow, a few 1943 steel blanks were left behind at the Denver Mint.
These blanks were fed into the presses by mistake, producing a tiny number of steel 1944-D pennies. Once the error was found, mint staff stopped making them. That’s why only about seven of these coins are known today, making it one of the rarest U.S. coins ever made.
Worth?
These coins are in high demand among collectors and rarely come up for sale. One example, graded MS63 (Mint State 63), sold for $115,000 at auction. That’s because coins in Mint State condition are sharp, clean, and show little to no wear.
Even a lower-grade 1944-D steel cent could sell for $30,000 or more, depending on its condition and the market. Because of its rarity, even damaged examples could be worth thousands.
| Condition | Estimated Value |
|---|---|
| Mint State (MS63) | $100,000+ |
| Fine to XF | $30,000 – $70,000 |
| Damaged/Cleaned | $10,000 – $20,000 |
If You Have One
Think you’ve spotted something unusual in your change jar or coin collection? Here’s how to check:
- Date: The coin must be dated 1944
- Mint mark: Look under the year for a “D”, meaning it came from the Denver Mint
- Magnet test: A steel penny will stick to a magnet. A bronze penny will not
- Color: A steel penny looks silver or gray, while bronze pennies are reddish or brownish
If your coin passes these basic checks, don’t try to clean it or sell it right away. Have it authenticated by a reputable coin grading service like PCGS or NGC. That way, you’ll know for sure if you’re holding one of the rarest pennies in existence.
Final Thoughts
The 1944-D Steel Wheat Penny is one of those rare numismatic finds that most collectors only dream about. It’s a product of a simple mistake that turned into a six-figure treasure.
If you’ve got old pennies stashed away, now might be the perfect time to pull them out and take a closer look—especially if you see one that looks more silver than copper.
It might just be worth more than you ever imagined.
FAQs
How many 1944-D steel pennies exist?
Only around seven are known to exist today.
What is the easiest way to test one?
Use a magnet—steel pennies will stick to it.
Is a silver-colored 1944 penny always rare?
Not always—check for the ‘D’ mint mark and test with a magnet.
Can a damaged steel penny still be valuable?
Yes, even worn ones can sell for thousands due to rarity.
Where can I get a coin authenticated?
Send it to PCGS or NGC for professional grading and verification.
