How to Handle Lincoln Cents in 5 Minutes Flat (2024 Quick Action Guide)

Need a Lincoln cent solution FAST? Here’s what actually works.

With Lincoln pennies fading out, everyone’s scrambling for answers. After tracking prices, laws, and metal values, I’ve found a faster way through the chaos. Forget waiting decades – let’s solve your penny problem right now.

3 Minutes to Lincoln Clarity

Busted Penny Myths

Before we fix anything, let’s clear up the confusion with real facts:

• Myth: “Pre-1983 pennies are melting goldmines”
• Truth: Actually, melting them’s illegal (31 CFR § 82.1) – no changes coming
• Myth: “Discontinued coins = instant collectibles”
• Truth: Canada’s penny phase-out proved common coins stay common
• Myth: “Banks pay extra for bulk pennies”
• Truth: Most banks now refuse large penny deposits

Why Copper Math Disappoints

Let’s crunch real numbers using today’s prices:

1 lb copper = $4.20
154 pre-1982 pennies = 1 lb
$1.54 face → $4.20 potential

Here’s why hoarding isn’t worth it:

• Refining costs slash 40-60% off profits
• Storing $1k in pennies needs a closet corner
• That same $1k in stocks? Could grow to $1,629 in 10 years

You’d need copper prices to double just to match basic investments.

Your 5-Minute Penny Plan

First 60 Seconds: Sort Smart

Stop saving everyday pennies. For your existing stash:

1. Separate pre-1982 coins (mostly copper)
2. Check 1982s with a scale (copper vs zinc)
3. Count your total face value

Next 90 Seconds: Value Check

Use my simple profit formula:


(Copper Pennies ÷ 154) × Current Copper Price × 0.6 = Real Value


Example: 5,000 coppers → (5000/154)×$4.20×0.6 = $81.82 vs $50 face value. Not worth your basement space!

Better Moves Right Now

Quick Cash Options

Turn pennies into pizza money in minutes:

• Coinstar: 0% fee for Amazon/Home Depot cards
• Your bank: Most still take rolled coins
• Local schools: They always need change for fundraisers

Smarter Coin Targets

Shift focus to these better bets:

• Silver dimes: $1.75 face = $25+ silver value
• War nickels: 35% silver – trade at 8x face
• Wheat cent rolls: Only pre-1958 rolls earn 3-5x premiums

Why This Saves You Today

This quick approach works because you:

• Ditch storage headaches immediately
• Turn clutter into real spending power
• Free up time for better money moves

Your Penny Problem Solved in Under 5

Here’s your fast finish: Cash in common pennies now, keep only key dates (1909-S, 1914-D, 1922 Plain), and pivot to silver coins with real profit potential. Your Lincoln cents aren’t worthless – but they’re not winning investments either. Turn them into something useful today and never worry about copper hoarding again. Sound good? Take action now!

Related Resources

You might also find these related articles helpful:

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• Beginner’s Guide to Lincoln Cents: Should You Save Them for Collecting or Melting? – Got a jar full of pennies? Here’s what you need to know as a new collector If you’ve just started exploring …