The magnets in vending machines (which required copper pennies) placed to collect steel bullets also collected legitimate pennies of steel. As a result of the manufacturing process, bare steel was exposed at the edge of the coin. If the zinc coating peeled off, the steel began to rust, especially around the edges of the coins.
US pennies are not magnetic. American pennies lack iron and steel, so magnets do not attract them. However, pennies made in other countries, such s the UK, may be magnetic because they are more likely to use steel in their creation. American pennies were last made of steel during WWII.
Thus, the stamping presses produced 1944 pennies on galvanized steel instead of bronze axles. The 1943 copper pennies looked like earlier coins, and due to the fact that there were so few of them, the Mint did not notice the error, or may not have thought to do something about a handful of wrong cents in the monetary system. While there was no official report on the number of copper (bronze) cents produced this year, some were accidentally minted when a few of last year’s leftover coins were left in mints along with new steel rods. In 1943, according to Coin Trackers, the US Mint produced 648,628,000 steel pennies.
A Brief History of Penny Metals
Until 1992, coins were made of copper and zinc, both of which were non-magnetic. The idea of steel coins was born during World War II, and they began to make steel coins. In 1992, the Royal Mint began to replace bronze with copper-plated steel (copper has not been used since 1860!) to produce coins and two pennies. Copper one-pound and two-pound coins are traditionally made from bronze alloys of copper, tin, and zinc. Although 1 and 2 pence coins are considered to be bronze statues of American pennies, they are actually mostly copper-plated steel.
Canadian coins and pennies issued in 2002 are made of nickel plated steel, so they are also magnetic. Due to the rise in metal prices on world markets since January 2012, the compositions of 5p and 10p coins are made from coated steel making them magnetic. Since January 2012, silver 5 and 10 pence coins have also been manufactured from electroplated steel, which in turn makes them magnetic.
Nickel plating began after 2012, and now nickel steel coins are also magnetic. Until 1992, coins were made of bronze, which was non-magnetic, so coins were also non-magnetic. However, after 1992, it was decided to use steel to make coins. Now steel coins are magnetic.
Coins Can Be Induced to Magnetize
Using powerful magnets, you can attract coins to each other and make them hang. When these coins collide with an external magnetic field, they themselves become magnets, so they attract each other to form a chain or tower. When the clad steel coin is attached to the magnet, the coin itself will be magnetized when the magnetic force passes through them. Magnets, you can get some super strong magnets that we used in this experiment.
We are also asked for “silver” cents that people have found in return. This is usually copper-clad steel that has lost its plating. Almost all of these coins, except for steel cents, are made with a higher percentage of copper ($ \ ce {Cu} $) and a lower percentage of other metals such as nickel ($ \ ce {Ni} $), zinc ($ \ ce {Zn} $), etc. For example, the current 5 US cents (American nickel) coin consists of 75% $ \ ce {Cu} $ and 25% $ \ ce {Ni} $ as stated by the OP in the question.
Copper pennies are more valuable than face value. Generally speaking, all pennies produced before 1982 were 95% copper and 5% tin and zinc, except that there was no tin in the alloy over the years. According to American numismatic books, the cost of 1943 steel coins in circulation was between 16 and 53 cents. Steel coins from 1943 sold for a few dollars, while rare copper coins were more expensive.
Steel Pennies Are Magnetic
If your 1944 penny sticks to a magnet, it will be a steel coin and this is rare. Copper pennies are not magnetic; if you bring the magnet to a regular copper penny, it won’t stick. So, if you have a copper or silver colored magnetic coin, it cannot be silver or bronze, it must be steel.
If the coin is magnetic, then unfortunately it is the regular steel version and in most cases it has no value. The easiest way to determine if your 1943 Cent is collectible – to see if it’s possible in bronze rather than steel – is to simply test it with a magnet. Steel is magnetic, so coins made after 1992 will be attracted to the magnet when it is near them.
Both types have the same color, weight, diameter, and design and circulate together, but the new copper-plated steel coin is attracted by the magnet. Copper or copper and zinc (since 1972-pennies) are not magnetic metals. Except for 1943 Lincoln pennies (steel cents made of steel and zinc used to preserve copper used for ammunition during the war), all American coins are non-magnetic (ferromagnetic) and they are considered to be magnetic.
Pennies are composed of 97.5% zinc and 2.5% copper, and neither of these metals are magnetic. Since copper is non-magnetic and does not contain enough nickel, these coins will not be attracted to a magnet. Regardless of the country, if coins and nickels are made of steel or nickel, they will be magnetic. If they are made of bronze, silver or copper, then they will not be magnetic.
Modern Pennies Are Usually Magnetic
Nowadays, the coins that are commonly used are mainly composed of steel or nickel-plated steel, which are ferromagnetic, so modern coins must be magnetic. But for many decades, pennies were actually made from other materials, such as copper. Since ammunition and electrical wiring had to be copper during the war, the US Mint decided instead to make the 1943 penny out of steel.
In order to help the war effort by eliminating the copper in the cents, the United States Mint invented a new metal composition for the one-cent coin. They decided to use steel as the base metal and cover it with pure zinc. Bronze is an alloy, which is a mixture of copper and tin or nickel; although nickel is magnetic, it is used in a small amount, so bronze is not magnetic, and copper coins are not magnetic.
The unique composition of the coin (low-grade galvanized steel instead of the former 95% copper-based bronze composition) has given rise to various nicknames such as war cent, steel war cent and steel. The 1943 Steel Cent is the only regular US coin that contains enough iron to be magnetic. The Steel Cent is the only regular US coin that can be magnetically lifted. The Steel Cent was also the only non-copper coin issued by the United States for circulation.
The coin was discovered by a coin collector in Oregon who found it in his father’s yard c. In 1969, he realized that he was not attracted to a magnet when he searched his collection of 1943 copper cents in 2019. Believing it to be a steel penny, the discoverer straightened the coin in a vice so that it could fit into the coin album.
