Bronze 1943-S Lincoln cent sells in private transaction March 2

Sale is less than two months after appearance at public auction
By , Coin World
Published : 03/07/16
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One of five known bronze 1943-S Lincoln cents has been reported sold for an undisclosed sum in a private transaction March 2, less than two months after the sellers acquired the coin at public auction.

In 1943, the composition for Lincoln cents intended for production at the Philadelphia, Denver and San Francisco Mints was zinc-coated steel. The wrong metal strikes are the result of left-over blanks from 1942 production being retained in equipment and becoming mixed in with the zinc-coated steel blanks. The composition of blanks from 1909 to 1942 was bronze: 95 percent copper and 5 percent tin and zinc.

David McCarthy, senior numismatist for Kagin’s in Tiburon, Calif., confirmed March 3 that a private sale had taken place. McCarthy, on behalf of Kagin's, and Ron Karp from New York Gold Mart in Manhasset, had first acquired the coin Jan. 7, 2016, as the winning bidders in Heritage Auctions’ Florida United Numismatists convention sale in Tampa.

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The coin sold in the Heritage sale for $211,500, which includes the 17.5 percent buyer’s fee.

In the auction, the coin was graded Professional Coin Grading Service Secure About Uncirculated 55. Subsequent to the sale, the coin holder was stickered by Certified Acceptance Corp., attesting to the coin’s quality, McCarthy said.

McCarthy said Kagin's and New York Gold Mart had expected to hold the coin for up to two years. Those plans changed, however, on March 2 when he stepped off the plane in Dallas enroute to the American Numismatic Association’s National Money Show. McCarthy said that's when he discovered a message left on his cell phone from a client wishing to buy the cent at a price that McCarthy would not disclose but that couldn’t be passed up.

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McCarthy said the client wishes to remain anonymous but hopes to possibly display the coin publicly in the future.

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