My Numismatic Adventure: What to Do with Old Pennies?

I recently found myself with a hefty stash of old pennies—about $30 face value, all dated between 1940 and 1975. As someone who’s always cherished wheat pennies since childhood, I couldn’t resist keeping those and having a blast filling Whitman folders with my kids. But once the wheaties were sorted, I was left scratching my head over what to do with the leftover Lincoln Memorial Cents from 1959 to 1975. They felt too old to just spend or dump at the bank, so I dove into exploring practical solutions. Here’s what I discovered on my journey through this numismatic puzzle.

Sorting and Initial Steps

First, I sorted through the pile, pulling out all the wheat pennies for safekeeping—it was a nostalgic trip down memory lane! With the kids, we had fun slotting them into folders, which sparked their interest in coin collecting. For the remaining pennies, I realized they weren’t particularly rare or valuable on their own, but I couldn’t bring myself to part with them carelessly. This led me to dig deeper into options beyond the obvious.

Practical Options for Leftover Pennies

After some research, I uncovered several smart ways to handle those post-1959 pennies without feeling guilty. Here’s a rundown of the best approaches I found:

• Donate to youth groups: Organizations like Boy Scouts or Girl Scouts often need coins for merit badges in coin collecting. Local libraries or coin clubs might have tables at events where kids can learn, making this a heartwarming way to pass on the hobby.
• Sell for copper value or to coin shops: I was surprised to learn that pre-1982 pennies contain copper worth more than face value. You can sell them to collectors or local coin shops—mine buys wheat cents for about 3 cents each and Lincoln Memorial copper cents for 2 cents apiece. Posting them online could even turn a small profit.
• Search for varieties first: Before cashing in or donating, I always recommend checking for key dates and varieties. Coins like the 1960-D small date or 1972 doubled die could be hidden gems, so a quick inspection might reveal unexpected value.
• Alternative uses: Groups like the Elongated Cents club use these pennies for creating souvenir smashed coins at shows, which is a fun way to repurpose them and engage young numismatists.

Market and Value Insights

Diving into the market, I noticed that copper content drives a lot of interest—pennies minted before 1982 are about 95% copper, and with metal prices rising, their melt value often exceeds face value. That’s why coin shops and hoarders snap them up. Currently, buying prices hover around 2-3 cents per coin depending on type, but it’s essential to stay updated on copper trends for the best deals. Also, remember that circulated coins from this era rarely grade high, so focus on bulk sales rather than individual grading unless you spot a standout variety.

Engaging the Next Generation

One of the most rewarding parts of this experience was seeing how donating pennies can ignite a passion in young collectors. By giving them to scouts or clubs, you’re not just offloading coins—you’re helping kids earn merit badges and build foundational skills in numismatics. It’s a simple way to foster curiosity and keep the hobby alive for future generations.

In the end, I opted to donate a batch to a local scout troop and sold the rest to my coin shop after a thorough search. It felt great to clear space while supporting the community. If you’re sitting on similar pennies, don’t overlook these options—they turn clutter into opportunity and keep the fun of coin collecting going strong.