A silver penny is a type of one cent coin that was minted in the United States in 1943. Silver pennies were not actually made of silver, but rather of steel that had been thinly coated in zinc. For a collector’s item, these coins are relatively common, and are easily found in coin shops, even though it is rare to accidentally find a silver penny still in circulation.
The 1943 silver penny was struck in steel instead of the usual copper. This was due to the increased need to dedicate all available copper to the military during World War II. Military forces needed copper for use in ammunition and other wartime applications, and the silver penny was just part of the plan to conserve copper for the war effort.
Despite the patriotic motivation for this change, the results included some unforeseen problems. Raging bull casino codes. Steel tarnished even more quickly than copper, because of its high iron content. Rust also formed at the edges of the coin, quickly deteriorating them. Perhaps the most vexing problem was that new silver pennies could easily be mistaken for dimes when giving or receiving change for a purchase, due to their color as well as their lighter weight compared to copper pennies.
The 'Silver Penny' Is Not Rare. In 1943 the United States was preparing for war in Europe and in the Pacific. Copper is an essential metal in the manufacturing of ammunition. In order to save copper for the war effort, the United States Mint under the authority from Congress began making pennies from steel with a thin coating of zinc. Jun 10, 2020 3 Hot Silver Penny Stocks to Buy: Fortuna Silver Mines Inc. (TSX:FVI) (NYSE:FSM) Last but not least on the list of hot silver penny stocks to watch is Fortuna Silver Mines, a precious metal producer with the Caylloma silver mine in southern Peru, the San Jose silver-gold mine in Mexico, and the Lindero gold project, currently under construction.
The public outcry that resulted from these problems led the US Mint to stop production of the silver penny after just one year, though there were also a few 1944 silver pennies made before the transition was completed. Large numbers of 1943 pennies were collected by the mints and destroyed, meaning that those that have survived are somewhat collectible. A 1943 silver penny that is in circulated condition is worth about $0.12 to $0.15 U.S. Dollars (USD), whereas one in brand new, uncirculated condition is worth about $0.50 USD.
The few 1944 silver pennies that were made are sometimes considered to have been minted in error, and in any case, they are much rarer that the 1943 variety, and can fetch a significantly higher price. Because of another, similar error, some of the pennies made in 1943 were minted in copper rather than steel. Like the 1944 silver penny, the 1943 copper penny is quite rare, with fewer than 50 ever made, and only about a dozen that have been located. One of these coins, still in new condition, was sold at auction for more than $200,000 USD in 2004.
Silver Penny 1943 Worth
In light of such prices, many counterfeit examples have been made by plating 1943 steel pennies with copper. This was also sometimes done to produce novelty items, rather than an attempt at fraud. Either way, the best method to tell a copper penny from a copper plated steel one is easy; steel is attracted to a magnet, while copper is not.
Silver Penny Plant
Some may think that silver penny stocks allow investors to track the market price of silver, however the truth is that investing in even the best silver penny stock recommendations results in tracking the performance of a certain production company. The silver penny stocks are as good as the company behind them! Sure the market price of silver directly affects their financial outcome, however, it is the management skills and strategies that can prove a company right or wrong.
Silver is very rarely found in nuggets in nature as gold but rather alloyed with metals like gold, sulfur, arsenic, galena and others. Some of the most silver rich regions of the world are Australia, North and Central Americas. When considering best penny stock picks for silver mining operations, make sure that their mines are located in these regions.
1. First Majestic Silver Corp. (AG)
These NYSE silver penny stocks are highly regarded from a company that currently owns and operates five major silver mining projects across Mexico. The Company is headquartered in Canada and owns a silver trading business in Europe.
2. Great Panther Silver Ltd. (GPL)
Another Canada based precious metals producer that owns and operates several mines across Mexico and focuses on mining for gold, silver, lead and zinc. One of its largest operations is the Topia Mine in Durango State in Mexico covering over 6,000 hectares of land and offering 53 separate silver mining concessions. Do not skip these hot penny stocks and include them in your calculations.
3. Hecla Mining Co. (HL)
Do not miss these silver penny stocks from the company that owns and operates not only gold mining operations but precious metals smelting and refining businesses. HL Company mines for gold, silver, lead and zinc in Idaho, Quebec, Canada and Admiralty Island in Alaska. Additionally, the company sells unrefined gold and silver bullion bars to wholesale distributors all over the world.
4. SilverCorp Metals Inc. (SVM)
These silver penny stocks come straight from the company that owns exploratory, development and production interests in various mines across China and Canada. Among its mining assortment of metals, you will find gold, silver, lead and zinc.
5. Fortuna Silver Mines (FSM)
The company is in the business of exploration and extracting precious metals across the countries in Latin America. These popular penny stocks are a great pick because it mines for a variety of metals in some of the most metal rich regions of South America.
Silver Penny 1944
6. Endeavour Silver Corp. (EXK)
Another Canadian based company involved in the exploration and extraction of precious metals including silver in Mexico and Chile. The company also holds interests in its largest La-Bufa mining property in Mexico covering over 2,3K hectares of land.
7. Wildcat Silver Corp. Download latest sportybet app. (WS.TO)
Any worthy penny stocks list would not be complete without mentioning this Canadian precious metal producer. Among its extraction goal metals are gold, silver manganese, zinc, lead and copper. The company owns 80% of business operation interests in a Hermosa property in Arizona.
8. Silver Standard Resources Inc. (SSRI)
Silver is on top of the company’s dominating interests as it is involved in exploratory and operating efforts in North and South Americas. Besides silver, the company also mines for gold, zinc, copper and lead. Perquitas Mine in Argentina is by far its largest mining operation encompassing 50 concessions and covering 3,6 K hectares of land.
9. Alexco Resources Corporation (AXU)
The Company offers silver penny stocks and is focused on developing and mining for gold, silver, lead and zinc on its mining properties in Canada. In addition to its immediate mining operations, the company also provides project management, mine site remediation and consulting services to other precious metals extracting businesses.
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Silver Penny 1983
10. Gold Reserve, Inc. (GRZ.V)
The list of hot silver penny stocks would simply not be complete without throwing some gold penny stocks in the equation. The Company based in Spokane, WA is focused on exploration and development of gold and silver mining operations. Its La Torguga Property in Jalisco State, Mexico covers 11,5 K hectares and holds promising precious metals reserves as of today.