My Insights on What to Do with Old Pennies

I recently came across a big stash of old pennies—about $30 face value, all dated between 1940 and 1975. As someone who’s collected coins since I was a kid, I’ve always kept wheat pennies for the nostalgia, but this time I had a pile of 1959-1975 coins that really made me pause. They’re not particularly rare, but they felt too special to just spend or dump at the bank. So I rolled up my sleeves to find some practical solutions, and here’s what I figured out.

Sorting and Enjoying the Find

First, I sat down with my kids to sort through everything—turned into a great family afternoon. We pulled out a Whitman folder and started filling slots, especially for those pre-1959 wheat cents. It’s amazing how hunting for dates and mint marks gets kids hooked on collecting. But after we’d pulled all the wheaties, I still had a mountain of copper Memorial cents staring back at me.

Practical Disposal Options

So what to do with those leftovers? Here are a few paths I found that beat letting them gather dust:

• Deposit at your bank: If you’re not sentimental, banks will take them as regular deposits. It’s quick and easy, though honestly, it feels a bit unsatisfying for coins with some history.
• Sell to a local coin shop: Most shops buy bulk pennies—wheat cents often go for about 3 cents each, while copper Memorials (1959-1981) might fetch 2 cents. You won’t get rich, but it’s a nice little bonus over face value.
• Donate to youth programs: Groups like Scouts use coins for collecting badges. After seeing kids’ eyes light up at coin shows, I love the idea of donating to local clubs or the Elongated Cents group—they turn pennies into hands-on projects for young collectors.

Market Value and Copper Hoarding

Here’s something neat I learned: pre-1982 pennies are mostly copper, and when metal prices rise, their melt value can double face value or more. That’s why some folks stockpile them. If you’ve got the space, you might sell them later to other collectors when demand picks up. Just remember—melting them down’s illegal, so always sell them as-is.

Collecting Considerations and Tips

Before moving any pennies, give them a once-over. Coins from this era can hide surprises like doubled dies or repunched mint marks that boost value. Pay special attention to 1960s and 1970s issues—errors can turn an ordinary cent into something special. You don’t need to be an expert grader; just check for wear, shine, and anything unusual under a good lamp. It’s like a mini treasure hunt!

Final Thoughts

At the end of the day, old pennies don’t need to become a burden. Whether you deposit them, sell for a small profit, donate to spark a kid’s interest, or hold for copper value, there’s a choice that fits. For me, the real win was sharing the hunt with my family—proof that even common coins can hold stories and create memories. Happy hunting, and may your penny jars bring as much joy as mine did!