My Insights on What to Do with Old Pennies

I recently found a stash of old pennies—around $30 worth from 1940 to 1975—and it got me thinking about what to do with them. As someone who’s collected coins since I was a kid, I’ll always love wheat pennies, but those later issues had me stumped. After sorting through them with my children and filling some Whitman folders for fun, I realized the 1959-1975 leftovers were tricky. They’re too common to get excited about, yet somehow too special to just spend at the store. So I explored some practical approaches, and here’s what worked for me.

Sorting and Keeping the Gems

First, I pulled all the wheat pennies from the pile. I’ve saved these since childhood, and sharing that with my kids was pure joy—we spent an afternoon slotting them into folders, and now they’re hooked on coins too! If you’re sorting pennies, I’d focus on pre-1959 wheat cents. They’ve got history and often carry a small premium. Watch for key dates like the 1955 doubled die, and check for coins with crisp details and minimal wear—those tend to be worth more.

Practical Options for Leftover Pennies

Facing that box of 1959-1975 Lincoln memorial cents, I tried several approaches. Here’s what actually worked:

• Donate to youth programs: Local Scout troops snapped these up for Coin Collecting merit badges. It helps kids earn their next rank while introducing them to our hobby—a real double win.
• Sell for copper value: Since pre-1982 pennies are mostly copper, their melt value beats face value. My local coin shop pays 3¢ each for wheat cents and 2¢ for later copper pennies (1959-1981). You might also sell them online if you’ve got enough.
• Search for varieties: Before letting any go, I hunt for doubled dies or repunched mint marks. Keep an eye out for known errors like the 1969-S or 1972 varieties—they can turn an ordinary penny into something special.
• Donate to coin clubs: Groups like the Elongated Cents club use them for educational activities at shows, like creating smashed souvenirs for kids. It’s a great way to clear your stash while supporting young collectors.
• Bank deposits: As a last resort, banks will take them if you’re an account holder. It’s easy, but honestly, it feels like wasting potential.

Market Observations and Collecting Tips

Here’s what I’ve noticed: The copper in pre-1982 cents matters more than ever. While hoarding them makes sense when copper prices rise, remember storage takes space and time. Collectors often pay extra for sorted batches, especially if you’ve pulled better-condition coins. Condition is everything—even common dates gain value if they’re mint state. I examine each coin under bright light for sharp strikes and original luster. And watch copper prices; when they jump, those “ordinary” pennies might surprise you.

Engaging the Community and Future Collectors

The best part? Seeing these pennies spark excitement in kids. Donating to Scouts or clubs helped young collectors build their first sets, which keeps our hobby alive. It reminded me that collecting isn’t just about dollar values—it’s about passing on stories and curiosity. If you’ve got similar leftovers, lean into the teaching moments. You’ll turn forgotten coins into something meaningful for the next generation.

Handling these old pennies taught me even the humblest coins hold possibilities. Whether you sell, donate, or hold, look at them like a collector would. Now I’m digging through another batch—maybe I’ll find that 1955 doubled die after all!