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Since there were none minted from steel that year, I would have to assume it is either plated (with silver, zinc, or nickel) which has no collector value, or it was minted on a foreign planchet, which would be worth about $50 You can verify that it is not steel by trying to stick it to a magnet. If it does not stick, then it is not steel.

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Q: What is the value of a 1977 penny that is made of steel?
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