Monday, November 27, 2023
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Web Desk

A penny could potentially secure you a house worth $175,000 — Here is how

Pennies were only made of steel in 1943, making a 1944 steel penny exceptionally valuable

By
Web Desk
Your ordinary penny could potentially secure you a house worth $175,000—TikTok@bullionshark
Your ordinary penny could potentially secure you a house worth $175,000—TikTok@bullionshark

In a surprising revelation by a TikTok coin expert, it has been suggested that an ordinary penny could have the potential to buy a house, with two specific details marking its value at $175,000.

The TikToker, known as Bullion Shark, intervened in another creator's video where a penny from 1944 was being transformed. Expressing appreciation for the design, the coin expert pointed out the coin's significance due to its unique date.

However, upon closer examination, it was clarified that the coin in question did not possess the specific errors that would make it worth a substantial amount. To turn a penny into a fortune, it must not only bear the rare 1944 date but also be composed of steel, a material distinct from the typical copper pennies. 

The expert emphasised that pennies were only made of steel in 1943, making a 1944 steel penny exceptionally valuable as it defies the norm.

Citing a listing on what appears to be Craigslist, the TikTok expert showcased a steel 1944 penny for sale at $175,000, while highlighting that a steel penny in better condition had previously sold for over $800,000. Professional Coin Grading Service confirmed the auction of a steel 1944 penny with an MS64 grade for $158,625.00.

This revelation isn't the first time that a steel penny has garnered attention online. Previously brought to light on the reality show Pawn Stars, the coin's rarity was assessed at around $30,000 in 2016.

TikToker TheCoinChannel further emphasised the historical context, noting that steel pennies were only intended to be made in 1943 due to a copper shortage during World War II. A similar high-grade MS66 penny was showcased, selling for an impressive $408,000 in an auction by Heritage Auctions.