The steel wheat penny of 1944 is of value since it was not meant to be circulated. The shortage of copper during the second world war led to production of pennies in 1943 using steel. In 1944 the U.S. Mint went back to copper, although a few steel planchets were confusedly used. These error coins are very rare and therefore very significant to the collectors. They are scarce, have historical importance, and demand thus are highly valued in the market particularly when they are authenticated and graded by a professional coin grading agency.

Also read: https://accountingbyte.com/1944-wheat-penny-value/