1944 Steel Penny

Last updated: May, 30 2023

CoinTrackers.com estimates the value of a 1944 Steel Wheat Penny in average condition to be worth $10000.00, while one in mint state could be valued around $408,000.00.

1944 Steel Penny
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There were just a few of the 1944 Steel Pennies ever minted and all would have been released by error into the coin supply. Coin analyst are suggesting that steel planchets may have been tested or left mixed amongst the other copper metals and thus the error. No matter what the cause these coins are selling for just under $100,000 dollars according to our resources. Make sure the coin you have or are buying is not a zinc coated copper penny ripoff.

1944 Steel Penny Info(Click to Enlarge Image)

It's been said that there aren't enough 1944 Steel Cents produced to dictate the true market value of this coin. Because they are so rare and have thus been at market so few times, there is no true way as of yet to figure out this coin's true value. We can tell you that in Aug 2021 one sold for $408 thousands dollars in MS66 condition, while one in MS64 condition that same day sold for $108 thousand.

How do I know if my 1944 Steel Penny is real?

A quick way to check the authenticity of a 1944 Steel Penny is to see if it sticks to a magnet. Coins made of steel will stick to magnets while those that are zinc coated and copper (fakes), will not. This is one of those coins that needs to be certified immediately, and with no hesitation.

Updates 5-28-22

Since this page was originally created there have been many more versions of this coin to be sold publicly. This means a wider range of prices from lower to upper specimen level conditions. The demand for this coin is so great that the prices have stayed relatively the same. The main difference is that several lower level coins have been released, making it easier for investors to get there hands on one of these coins without spending more than $30,000 in some instances.

For full pricing details on all known sales as of 2022 please scroll down and look at price per coin grade in section below currently titled Full Price Breakdown.

Questions & Comments

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AAB1976 : Hi,I have a 1944 steel penny. This coin is in good condition. I know it is a very rare penny to get. Are you interested in trading it? Posted: February 6, 2024 2:38 pm

Price Chart

Rates listed here refer to professionally graded and slabbed coins. If new to collecting the prices below might not make sense.

Breakdown of pricing per condition for by individual grade.

  • Grade VF20 = $7,200-$12,000
  • Grade AU53 = $18,750-$31,250
  • Grade AU55 = $45,000-$75,000
  • Grade MS61 = $38,250-$63,750
  • Grade MS62 = $48,750-$81,250
  • Grade MS63 = $60,000-$100,000
  • Grade MS64 = $81,000-$135,000
  • Grade MS66 = $300,000-$500,000

Is the list above a little overwhelming? If so, take 5 minutes to learn all about Coin Grading.

It's also important to note...Prices are subject to the same supply and demand laws as everything else. Coins sold at the same auction house 10x, would fetch drastically different bids each session. To raise your chances of receiving top dollar read How to Get the Most for your Coins.

We've personally researched these values. If you enjoy our content please return the favor and share this page with your friends.

How much is a 1944 Steel Penny worth?

In Average Circulated (AC) condition it's worth around $10000.00, one in certified mint state (MS+) condition could bring as much as $408,000 at auction. This price does not reference any standard coin grading scale. So when we say Average Circulated, we mean in a similar condition to other coins circulated in 1944, and mint state meaning it is certified MS+ by one of the top coin grading companies. *** [?].

What are your coins really worth?

Use the handy-dandy calculator below to find the real value of any steel wheat penny in your collection.

how much is your penny worth

Most Valuable

The most valuable Steel Wheat Penny's. Prices listed are for MS-65 certified. Visit the link to learn more about each coin.

Image Year Mint Worth
Steel Wheat Penny 1944 $408k
Steel Wheat Penny 1943 $65
Steel Wheat Penny 1943 S $25
Steel Wheat Penny 1943 D $12
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1989 P $345.22
1989 $345,000
1989 D $345
Image Name Mint Worth

Want more? Click here to see the most valuable coins ever minted.

***Price subject to standard supply and demand laws, dealer premiums, and other market variations. Prices represent past values fetched at online auctions, estate sales, certified coins being sold by dealers, and user submitted values. While we wholeheartedly try to give honest price estimates there are many factors besides appearance, metal content, and rarity that help make up the coins overall value. Call or visit your local coin dealer for more information.