1951 Steel Wheat penny??

Recently I came across a steel wheat penny from one of my buddies. At first I didn't think too much of it because I have several, so I thanked him for it and went to go put it in a coin slip... Then when I went to mark the coin slip with the coin date I figured that I'd humor myself and double check the date.. To my shock the date on the penny was 1951, I thought to myself "this has to be spray painted silver... Then I decided I'd do a small test I do on steel pennies, I held a magnet to it, and sure enough the penny stuck right to it...

What could something like this be worth?

Whats the quantity of this error?

how did the error happen?

Thanks,

Dyroxide

 

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Need to see a pic to help you.

 

Most likely plated steel

 

I'd have my doubts about its authenticity if I would have purchased it, or if my friend was a heavy collector. I asked him if he had any interesting coins he wanted to sell, and he told me he had a steel wheat penny i could have if i wanted it along with a standing liberty quarter.

I'll try and upload a picture of it

 

In 1943 they had steel wheats.

There is the possibility of it being struck on a wrong planchet.

or

Your's might be the result of a common science project:

http://www.youtube.com/watch?v=q4puQhfJg-o

 

How can I tell if someone did that to it?'

Also that doesn't explain how it sticks to a magnet

Is this worth getting checked by a numismatic?

 

(Numismatist) Lots of them here! Just give them time to respond. A couple of them are chemists and can give a proper explanation.

 

i wish i could put a quality picture of it on here my camera only wants to make it fuzzy.

That experiment doesn't explain how it sticks to my magnet, zinc is diamagnetic meaning it weakly repels magnetic fields (hence is not magnetic).

 

If i scanned it would that help?

 

Sure. And the weight if you have a scale.

 

A scan would be nice. If your friend is a "heavy collector" and he sold it to you as a real coin, he doesn't sound like a very good friend, or a knowledgeable collector.

@ikandiggit, I highly doubt a steel planchet from 1943 would make its way into the production line 8 years later.

 

I should have added that too many years have passed for it to be steel. (Sorry for that, I had company who had half my attention.)

 

Try a 1943 cent on the magnate and see if it is as strong as the steel cent. Plated ones will be a weak attraction where the steel ones are strong.

 

And i'll try the 1943 one against this one and see if its equal attraction.

 

My friend isn't a collector at all, thats why I'm doubting that it was faked, the coins he comes across he gets out of pocket change.

If someone coated this coin in steel then I would logically assume that they'd keep it for their own personal gain and not recirculate it, and I think you make a valid point about the steel planchlet.. But the mint makes mistakes, I'm just curious if this was an error that got out in a small amount

 

you would be surprised how many plated cents make it into circulation. i got a few rolls of them(not sure why i saved them, just as a reference, i guess). every time i find one, i put it to the pile. i guess it keeps them out of the hand of people who think they are real.

people do them in school and hold onto them for a little and decide it aint worth it or it gets lost, so many ways... i have a few that works with the magnets and i am sure they are plated.

its much more logical to think, if it were real, you wouldn't find it in pocket change. its been around since the '50's, so i am sure its been through the hands of many collectors.

don't get me wrong, i hope it turns out to be something but the odds are, its some sort of plating.

 

Probably 100% of the faked stuff ends up in pocket change and found by someone else. Mess up a coin, then spend it.

 

Yep coop you were right the 1951 doesn't stick as strongly as a 1943 does

 

Thanks for clearing it up everyone, it was an interesting prospect that I might have found something "unique" for my collection.. I'll keep it as a novelty penny (the one that got away) lol