My Practical Guide on What to Do with Old Pennies

I was sorting through a big pile of old pennies recently—about $30 worth, all from 1940 to 1975. Being a lifelong coin nut, I’ve loved wheat pennies since I was a kid, so I had to pull those out for my Whitman folders. Filling them with my kids was a ton of fun, but then I had a bunch left over, especially from 1959 to 1975. They felt too special to just spend or dump at the bank, so I started looking into what else I could do. Here’s what I found out, with some tips for you too.

Sorting and Enjoying the Classics

First, the fun part: I pulled out all the wheat pennies—those classic pre-1959 coins—and had a blast putting them in folders. It’s a great way to get kids into collecting, and a fun way to bond and share some history. Then I turned to the memorial cents (1959-1981), which don’t get much love but can be surprisingly interesting.

Handling the Leftover Pennies

After setting aside the wheaties, I had a stack that seemed ordinary but hard to part with. Here’s what worked for me:

• Donate to Youth Programs: Scout troops are thrilled to get these for their coin collecting badges. I called a few local groups—they’re always happy to take donations for their educational programs.
• Sell for Profit or Copper Value: Pre-1982 pennies are mostly copper, and their melt value often beats face value. My local coin shop pays about 3 cents per wheat cent and 2 cents for copper memorial cents (1959-1981). Online sales might even turn a small profit if you find the right buyer.
• Support Coin Clubs and Shows: Ever seen kids lining up at elongated cent machines? Clubs use these pennies for smashed coins at shows. Donating to your local club’s “kid’s table” helps spark new collectors.
• Just Deposit at the Bank: When all else fails, neatly rolled coins are easy to deposit. Your bank should handle it without issues, though it’s not the most exciting option for us collectors.

Market Observations and Value Insights

That copper content really caught my eye. Pre-1982 pennies are 95% copper, and with metal prices climbing, their melt value often doubles or triples face value. It’s worth holding onto them if you can, but remember handling costs if you sell. At coin shows, I’ve noticed dealers pay a bit extra when they need inventory.

Tips for Maximizing Your Finds

Before you decide what to do with them, I can’t stress enough: check for hidden treasures! Key varieties like doubled dies or rare mint marks can turn up in 1959-1975 pennies. Grab a magnifier and reference book—it’s like a treasure hunt that might pay off. And sort by condition too; uncirculated coins deserve special attention.

Final Thoughts for Fellow Collectors

Working through these old pennies reminded me that even “ordinary” coins add to the fun of collecting. Whether you’re donating to inspire kids, cashing in on copper, or hunting rarities, knowing your options makes all the difference. If you’ve dealt with a similar stash, I’d love to hear your story—let’s keep the coin collecting passion going!