The Hidden Value of Elongated Pennies: Are These Souvenir Coins Worth Collecting?

Introduction: Beyond the Souvenir Status

When most people think of elongated pennies, they picture inexpensive tourist trinkets pressed at roadside attractions. But seasoned collectors know these flattened coins represent a fascinating niche with genuine investment potential. Understanding their true value requires looking past the souvenir status to examine market demand, rarity, and historical significance.

Historical Significance of Elongated Coins

Elongated coins, also called pressed pennies, smashed pennies, or squashed pennies, have captivated collectors since debuting at the 1893 Chicago World’s Fair. These machines have evolved from hand-cranked devices to modern automated presses, yet their appeal remains timeless: transforming ordinary cents into personalized keepsakes.

According to the Penny Collector website, these flattened treasures date back over a century, featuring designs ranging from simple inscriptions to elaborate commemorative artwork. Each coin captures a moment in time, preserving specific coin issues while adding unique artistic elements that tell stories of places visited and memories made.

Identifying Key Markers and Variations

Several critical factors influence the numismatic value and collectibility of elongated pennies:

• Base Coin Date: Pre-1982 copper cents command premium prices over zinc cents due to superior pressing quality and higher copper content
• Design Complexity: Multi-color designs, intricate artwork, and limited-edition releases attract serious collectors and higher bids
• Historical Significance: Coins commemorating major events or featuring rare designs can be quite valuable
• Machine Location: Elongated coins from famous locations or historical sites often carry additional premium value

The Great Debate: Oblong vs. Elongated

The passionate forum discussion reveals an interesting linguistic debate about terminology. While “elongated” is technically correct, “oblong” is commonly used by collectors and enthusiasts. This highlights the dedicated nature of the collecting community and the importance of understanding collector terminology when evaluating these unique pieces.

Current Market Prices and Auction Results

While most elongated pennies trade for modest prices between $1 and $5 for common examples, rare specimens can command significant premiums:

There are some very cool elongated coins out there, many with interesting designs, and historical connections or commemorations. There is a very active collector community. Some may be surprised to hear that certain types, even those on a standard copper cents, sell for hundreds or even thousands of dollars.

Notable examples include:

• The Johnson-Jeffries fight elongated penny, described as “very rare and likely the most desirable elongated”
• The Fish St Louis Worlds Fair 1904 elongated penny, which brings $4-5000 when offered

Investment Potential in the Modern Market

The discussion about the potential end of the cent raises interesting questions about future value appreciation. As one collector noted, “with the end of the cent, it is going to be harder and harder to create these. They might gain value.”

However, other forum members point out that elongated coin machines can be calibrated to accept other denominations, including nickels, dimes, quarters, and even half dollars. This suggests that the hobby will likely continue regardless of the cent’s fate, though the copper cent era may see increased demand from serious collectors.

International Market Considerations

The collecting community extends beyond U.S. borders, with elongated coin machines operating in countries where cents don’t exist. This international aspect adds diversity to the market and creates opportunities for cross-border collecting, particularly for machines that press foreign coins or feature international designs.

Factors Driving Value Up or Down

Positive Value Drivers

• Historical significance and rarity
• Condition and preservation quality
• Unique or limited-edition designs
• Provenance from famous locations
• Complete collections or sets

Negative Value Factors

• Common designs from popular tourist locations
• Poor condition or damage
• Modern zinc cents (less desirable than copper)
• Overproduction of certain designs

Authentication and Preservation

Unlike traditional coins, elongated pennies present unique authentication challenges. Collectors should look for:

• Clear, readable designs without distortion
• Proper flattening without excessive wear
• Authentic machine markings when applicable
• Original packaging or documentation for rare pieces

Collecting Strategies for Different Budgets

For casual collectors, building a geographically diverse collection from various tourist locations provides both enjoyment and potential future value. More serious collectors might focus on:

• Complete sets from specific locations or time periods
• Rarity-based collecting focusing on valuable specimens
• Thematic collections (historical events, famous landmarks, etc.)

Conclusion: The Enduring Appeal of Elongated Pennies

While elongated pennies may never achieve the investment status of rare traditional coins, they represent a unique collecting niche with genuine historical significance and surprising value potential. The combination of affordability, accessibility, and the personal connection to travel memories ensures their continued popularity among collectors.

The market for these flattened treasures continues to evolve, with rare specimens commanding impressive prices and the collecting community remaining active and engaged. Whether viewed as inexpensive souvenirs or serious collectibles, elongated pennies offer collectors a tangible connection to history and personal experiences that transcends their modest origins.

For those interested in exploring this collecting niche, the key is understanding that value extends beyond monetary worth to include historical significance, personal meaning, and the joy of the collecting journey itself.

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