As of 2015, the value of circulated a 1943 steel penny is between 12 and 15 cents, and a coin that is uncirculated is worth as much as 50 cents. The government used steel for penny production during World War II to conserve copper for the war's shell casings.
Rarity impacts the value of a 1943 coin, and rarer coins include those that used bronze or copper due to production errors. These pennies may be copper or merely a steel penny coated with copper instead of zinc.
In 2012, a bronze 1943 penny sold for $1 million at auction. These pennies are among the most valuable coins that have resulted from production errors.