What to Do with Your Hoard of Old Pennies: A Collector’s Guide

I recently found a stash of about $30 in old pennies, all dated between 1940 and 1975. As someone who’s collected coins since I was a kid, I love wheat pennies and had a great time filling Whitman folders with my children using the pre-1959 ones. But those later pennies from 1959 to 1975? They just sat there—too sentimental to spend, but not rare enough for my collection. So I looked into what I could do with them, and here’s what I found.

What to Do With Your Extra Pennies

If you’re like me, getting rid of old coins feels strange, but keeping common dates around just creates clutter. After talking with fellow collectors and local shops, here are some solid options:

• Take them to the bank: This is the easiest route. Banks accept all legal tender, even if it’s decades old. For a small batch like this, you can deposit them without any hassle.
• Sell for their copper content: Pennies made before 1982 are mostly copper, and they’re often worth more than face value. Local coin shops might pay about 2 cents each—turning your pile into a little extra cash. Just keep an eye on copper prices since they change.
• Donate to youth groups: Organizations like Boy Scouts or Girl Scouts use coins for their collecting merit badges. I reached out to a coin club that sets up at shows, and they said kids love getting their hands on donated pennies—it really sparks their interest.
• Share with elongated cent clubs: Groups that make those smashed souvenir coins often need pre-1982 cents for demonstrations. I sent some to one club, and they put them to good use teaching young collectors.

Tips From the Coin Community

Before you decide, flip through your pennies one more time. Even common dates can hide valuable errors like doubled dies or repunched mint marks. Some 1970s pennies have mistakes that make them worth more than you’d think. Right now, shops in my area pay about 3 cents for wheat pennies and 2 cents for the copper memorial cents (1959-1981). There’s a whole group of collectors who buy these up, betting on copper prices rising. Since most are well-worn, don’t worry about grading—but sorting by decade makes selling or donating much easier.

Passing On the Hobby

The most rewarding part? Seeing how these pennies can ignite a passion in kids. When you donate to scouts or youth clubs, you’re helping them earn badges and discover collecting. I’ve watched a simple penny donation at a coin show draw a crowd of excited young faces. It’s not just about the coins—it’s about sharing a love for history that can last a lifetime.

My Takeaway

Here’s what I learned: there’s no single best solution—it depends on what matters to you. If you want to make a little money, sell for copper. If you’d rather support the community, donate. Personally, I lean toward sharing with youth programs to keep our hobby thriving. Whatever you choose, take a moment to appreciate the history in those old pennies. They might not be rare, but they’re a piece of American story worth treating with care.