Why Are Some Coins Magnetic? (2024)

Reposted with permission from Coinsforsale.com

Coins are made of different materials, which is why some are magnetic, and others aren't. The most common metal in coins is copper, which is not magnetic. Other metals commonly used in coins, such as aluminum and nickel, are not magnetic.

However, some coins do contain magnetic metals such as iron and steel. These metals are commonly used in the manufacture of coins for various reasons. For example, iron and steel are strong and durable, making long-lasting coins. They are also easy to produce, which helps to keep the cost of making coins down.

Why Are Some Coins Magnetic?

One of the main reasons some coins are magnetic is the metal they are made of. Iron and steel are magnetic, so if a coin contains these metals, it will be attracted to a magnet. This is why some older coins, such as pennies, are magnetic, while others, such as dimes and quarters, are not.

Another reason why some coins are magnetic is because of the way they are made. In some cases, coins may be made by stamping a piece of metal with a design, which can cause the metal to become magnetized. This is because stamping the metal can create tiny magnetic fields within the metal itself.

Which Coins Are Magnetic and Which Are Not?

As mentioned earlier, coins can be magnetic for two main reasons: the metal they are made of and the way they are made. So, which coins are magnetic and which are not? Pennies and some older coins are magnetic because they contain iron or steel. Dimes, quarters, and most modern coins are not magnetic because they are made of non-magnetic metals. It is also possible for any coin to become magnetized if it is stamped during the manufacturing process.

In other countries, other magnetic coins may contain iron or steel. While nickel is a magnetic metal, standard United States coins do not contain enough nickel to make them magnetic. Even the five-cent coin, commonly known as a "nickel," is only 25% nickel, with the remaining 75% being copper. As a result, the United States five-cent coins are not magnetic despite their nickel composition.

In other countries, such as Canada and Great Britain, many coins are made from magnetic metals like steel and nickel. In Canada, for example, many of the coins minted since 2000, including the 1 cent, 5 cent, 10 cent, 25 cent, and 50 cent coins, are made from steel and are, therefore, magnetic. In Great Britain, the 1 and 2 pence coins struck since 1992 are made from a steel alloy and are also magnetic.

There are many other examples of magnetic coins from around the world. However, it is important to remember that these are typically base metal coins with little intrinsic value.

Some coins are magnetic because they contain iron or steel, while others may become magnetized during manufacturing. It is always worth checking if a coin is magnetic by using a magnet, as it can give you a clue about the metal it is made of and how it was manufactured.

Conclusion

Overall, some coins are magnetic, and others aren't because of the materials they are made of and the way they are manufactured. Coins made of magnetic metals or magnetized during the manufacturing process will be attracted to a magnet, while others will not.

Understanding the materials used to mint coins can be beneficial for anyone who collects coins. Knowing which metals are used in coins and how they affect a coin's magnetic properties can help a collector decide when to add to their collection..

At Coins for Sale, we know the materials used in coin manufacturing and can assist collectors in selecting the perfect coins for their collection. We have a wide range of coins available, including those made of magnetic metals, non-magnetic metals, and those that have been magnetized during the manufacturing process. Contact us today to learn more about our selection of coins and how we can help you build the perfect coin collection.

Why Are Some Coins Magnetic? (2024)

FAQs

Why Are Some Coins Magnetic? ›

There is one notable difference. Copper-plated coins are attracted to magnets because of the iron content of the steel core, whereas bronze coins are not magnetic. In 1998, 2p

2p
The British decimal two pence coin (often shortened to 2p in writing and speech) is a denomination of sterling coinage equalling 2⁄100 of a pound.
https://en.wikipedia.org › Two_pence_(British_decimal_coin)
coins were struck in both copper-plated steel and bronze.

Are coins that stick to magnets worth anything? ›

Yes they are. In 1943 the government made nearly a billion cents made from zinc plated steel and ALL of these steel cents are magnetic. Depending on mintmark and condition they would have a RETAIL value from around 5 cents to $10 each.

What does it mean if a coin is magnetic? ›

Coins are made of different materials, which is why some are magnetic, and others aren't. The most common metal in coins is copper, which is not magnetic. Other metals commonly used in coins, such as aluminum and nickel, are not magnetic. However, some coins do contain magnetic metals such as iron and steel.

Are any American coins magnetic? ›

None of the US coins are magnetic (ferromagnetic), except for the 1943 Lincoln penny (Steel Cents, made in steel and zinc to save copper for ammunition during wartime), which are considered magnetic.

Do old coins stick to magnets? ›

In 1943, some pennies in the United States were made with steel. These old pennies still stick to a magnet. A magnet's force, called magnetism, attracts the metal nickel. But there isn't enough of it in U.S. nickels for a magnet to stick to those coins.

How much is a 1943 wheat penny worth if it is magnetic? ›

How do I know if I have the copper 1943 Wheat Penny? This is a very simple test. Go get a magnet. If the coin sticks to the magnet, it's made of steel and worth about 10 cents.

Why can't you pick up coins with a magnet? ›

This is because the moving magnet sets up an 'electrical field'* that slows its fall. Now try it with a non-magnetic coin (most coins), the magnet, predictably, just 'falls off' the coin.

Can you pick up a quarter with a magnet? ›

US quarters cannot be picked up by magnets. American coin mechanisms in vending machines and arcade games have magnets to filter out Canadian quarters.

When did coins stop being magnetic? ›

The only US coin that contained enough iron to be magnetic was the 1943 steel cent. US nickels have contained just 25% nickel since 1866 (with the exception of the 1942–45 war nickels that had no nickel at all.) They do not contain enough nickel to be attracted to a magnet.

Are penny coins magnetic? ›

Steel is magnetic so pennies made after 1992 will be attracted to the magnet when it is close to them. Pennies made before this will not be magnetic. Since 2012, 5p and 10p coins are made out of nickel-plated steel. You had magnetic coins in your pockets all along without knowing!

Are counterfeit coins magnetic? ›

If a coin that is claimed to have a high gold or silver content is attracted to a magnet, then it is likely a counterfeit that contains more steel or iron than advertised.

What coins are worth money? ›

8 Rare Coins Worth Millions That Are Highly Coveted by Coin...
  • 1794 Flowing Hair Silver Dollar. ...
  • 1933 Saint-Gaudens Double Eagle. ...
  • 1913 5C Liberty Head Nickel. ...
  • 1804 Silver Dollar Original — Class I. ...
  • 1787 $15 Brasher, Breast Punch. ...
  • 723 Umayyad Gold Dinar. ...
  • 1894-S Barber Dime. ...
  • 1849 $20 Liberty Gold Coin.
Sep 2, 2024

Is a US penny magnetic? ›

The steel cent is the only regular-issue United States coin that can be picked up with a magnet.

Why would a coin be magnetic? ›

The iron content in the steel core is what makes them magnetic.

What valuable coins are magnetic? ›

Due to the copper shortage at the beginning of WW2, in 1943 pennies were struck in steel, (the color is silver, not the metal), hence the ferrous quality of steel is why the coin is attracted to a magnet. An average condition 1943 steel cent is maybe worth 15 cents. An uncirculated one is maybe worth 2–4 dollars.

What does it mean if my 1943 penny sticks to a magnet? ›

The weight of 2.7g is for a typical 1943 steel cent. The fact that yours sticks to a magnet also confirms the fact that what you have is a normal steel cent. Your cent, therefore, was either painted or plated to try to make it appear that it is one of the insanely expensive bronze errors.

Should a 1944 penny stick to a magnet? ›

Hello,This is a 1944 penny made as one of the experimental coins in tin with a very thin zinc coating for shine. Tin is not magnetic but zinc is, so this is why it would have just a slight magnetic property when tested.

How much is a 1943 penny worth? ›

Average value

According to Gainesville Coins, most circulated 1943 steel pennies trade for around 10 to 25 cents each. Uncirculated examples can be worth $1 to $5, with top-level specimens in Mint State-67 or better sometimes fetching hundreds or even thousands of dollars​ (Gainesville Coins)​.

Why is the 1944 wheat penny so valuable? ›

The 1944 Lincoln penny is particularly desirable in the eyes of collectors not only because of its design, but also due to its scarcity. Being that there are no more 1944 Lincolns being produced, the scarcity of these coins is constantly on the rise, thus making the coins more valuable.

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