Lost But Not Forgotten

The few resulting copper cents were lost in the flood of millions of steel cents struck in 1943 and escaped detection by the Mint’s quality control measures. Lincoln cents are already considered as the most collected US coins so the demand for them is also extensive. The 1943 copper Lincoln cent had an unusual look which makes it one of those rare coins which are considered highly popular for numismatists.

The Prized Possession

Even though the penny had landed in Lutes’ hand as spare change for a meal, its actual value is something he could have never imagined. The professional coin grading service is an organization that evaluates and grades rare coins. It graded the penny a 62 on a scale of 1-70.

In The Memory Of…

After a steep decline in his health, Donald Lutes Jr. passed away on September 3rd, 2018. As per his request, a private burial service was held on September 10th. He didn’t have any immediate relatives at the time of his death and lost his wife back in 1995. But he was surrounded by friends and people he learned to call his family.

Validated Coin

Lutes left this world at the age of 87. He lived long enough to see the documentation of his beloved 1943 copper cent by a major grading company. This validated the coin to be genuine and listed it as the “Don Lutes Discovery Coin” which ensures that his name will be a part of Numismatic history forever.

The Auction

With the help of his friend, Peter Karpenski, Lukes’s priced possession managed to find its way to Heritage Auctions in January 2019. The 1943 Lincoln penny soared in value because it was made by accident and from the wrong material. Heritage Auctions estimated that the coin was worth 1.7 million dollars. After two weeks of the online auction, the highest bid went up to 1.3 million dollars. 

The Highest Bidder

The winning bid came from Tom Caldwell, owner of northeast numismatics. According to him, this piece is one of 19 known copper pennies minted in 1943. The coin attracted more than 30 bids and was finally sold to Caldwell at 2.4 million dollars.