Unfortunately, the rarity and high value of these coins have led to an increase in counterfeits. Some scammers modify 1948 pennies to resemble the 1943 version or coat common 1943 steel pennies with copper to deceive buyers. Spotting fakes is important to avoid being tricked.

A simple method to test authenticity is by using a magnet. Genuine copper pennies won’t stick to a magnet, while steel coins—even if coated in copper—will. This quick test can help you determine whether your coin is potentially valuable.

It’s worth checking your old coins or family coin collections—you might unknowingly have a hidden treasure. And don’t keep the news to yourself; share this with friends and relatives. You never know who else might be sitting on a small fortune without realizing it.