My Journey with Old Pennies: Practical Tips for Your Hoard

I recently realized I had a big pile of old pennies—about $30 worth, all dating from 1940 to 1975. Since I’ve been saving wheat pennies since I was a kid, I spent a weekend sorting through them with my children. We filled Whitman folders together and got them hooked on coin collecting. But then we faced boxes of common Lincoln Memorial cents from 1959-1975. I couldn’t bring myself to spend them or dump them at the bank; they just felt too special. After trying different approaches, here’s what worked for me.

Sorting and Enjoying the Process

Let’s be honest—sorting pennies is half the fun, especially with family. We hunted for wheat backs like treasure, pulling out those nostalgic gems. Watching my kids’ excitement as they filled folders reminded me why I started collecting. For the common dates, don’t skip checking for doubled dies or repunched mint marks. You never know when you’ll find a hidden star worth more than face value!

Practical Options for Leftover Pennies

Once you’ve kept the good stuff, those 1959-1975 leftovers need solutions. Here’s what I’ve tried:

• Bank deposit: Banks will take them if you’re ready to let go. Simple, but I always hesitate—it feels like dumping history.
• Sell for copper value: Pre-1982 pennies are mostly copper, so they’re worth more melted than spent. My local coin shop pays 3¢ per wheat cent and 2¢ for Memorials. Online buyers will take them too—just watch shipping costs.
• Donate to youth programs: Scout troops love these for coin collecting badges. I’ve seen kids swarm coin club tables at shows—donating here clears your stash while sparking new collectors.
• Send to specialty clubs: Groups like the Elongated Cents Club turn them into smashed souvenirs at events. Perfect for getting young folks involved.

Market Insights and Value Tips

Those pre-1982 coppers really do add up. With current metal prices, each is worth about 2-3 times face value—selling a big batch puts real cash in your pocket. Always eye your coins for condition though. Look for uncirculated pieces or key dates like the 1970-S small date. A quick check for wear and luster helps when selling. Common dates won’t make you rich, but it’s worth a glance before moving them along.

Encouraging the Next Generation

Here’s the best part: those “worthless” pennies can light a fire in new collectors. Giving them to scout groups or coin clubs for kids’ activities clears your space while passing on the hobby. Seeing a child’s eyes widen when they examine their first wheat penny? That’s pure numismatic magic.

Handling my penny hoard taught me every coin has value—in metal, memories, or mentoring new collectors. I’m keeping some for nostalgia and sharing others to keep the hobby alive. If you’ve got a stash gathering dust, pick what speaks to you and pass on the rest. Happy hunting!