A steel penny, or U.S. one cent coin, is a steel cent with a thin zinc coating. Minted during World War II when copper was urgently needed for wartime production, it was made in 1943. These pennies don’t look like the usual copper penny because they’re silver gray pennies. The steel penny was just that, a temporary solution, but it had become a collector’s item. It’s not really valuable unless it’s in perfect condition, but it’s got historical significance.