Thursday, November 30, 2000

If you've got a pretty penny and you think it might be rare, get out a magnet

Of all the columns I've written, the one that has generated the most phone calls and e-mails is one written more than a year and a half ago about a rare 1943 copper penny reportedly worth as much as $50,000.
   People from all over the country, a few from abroad, to this day e-mail me questions about the penny, which went back into circulation accidentally a few years ago when an Idaho man lost it during his family's move to a new home.
   The chances of finding such a jackpot in your possession are slim, but it could happen.
   Consider the Philadelphia family who found such a '43 coin in a collection of old pennies left to them by their late grandmother, who got it in change from a paperboy. She apparently had no idea of its value, simply saving it because it was old.
   In August 1999, the family sold the penny at auction for $32,200, said Stephen L. Bobbitt, of the American Numismatics Association, the world's largest nonprofit organization for coin collectors.
   So, in response to Simon of Weslaco, who e-mailed just yesterday wondering if the odd-looking penny he's found may lead him to a jackpot, and all others still on the hunt, I'll repeat some sound advice expert coin dealers gave me about authentication. First step: Give it the magnet test. If your penny is indeed the rare coin, it will NOT attract to a magnet. Second step: Find a coin expert - which I am not. Consult the yellow pages or the Internet. Or call the American Numismatic Association, the world's largest nonprofit organization for coin collectors, at 719-632-2646.
   If your '43 penny does attract to a magnet, what you likely have is a zinc-plated steel penny. Note that all pennies in '43 were made of this material because of World War II metal conservation. That is why copper pennies of that year bring a small fortune on the auction block: they were minted accidentally of copper still in the press hopper when production was converted to steel pennies.
   Not all treasures are of precious metals and Julio Allo's creations certainly prove that.
   Allo, featured in an April column, shared with readers his passion for carving large-scale ships out of wood, a hobby he embarked on as a child growing up in a coastal village in Spain. This week, he is putting the finishing touches on his latest project, the St. Louis, which took six months to complete. The 8-by-7 foot replica 1624 French ship is destined to join four other Allo creations for sale and on display at the Omni Bayfront Hotel.
   Unfortunately, a project the subject of a May column has stalled because of funding. Habitat for Humanity volunteers have raised $5,000 for its "Women Build Project" but need $30,000 more.
   The good news is that they've lined up 200 volunteers for it, said Patricia Clarke, executive director of Habitat for Humanity-Corpus Christi.
   Now, if everyone would just pitch in a penny...