What to Do with Old Pennies? My Numismatic Insights

You know how it goes—I found a box of old pennies in the back of a closet recently, about $30 worth from 1940 to 1975. Sorting the wheat-backs with my kids brought back great memories; we filled Whitman folders together like I did as a kid. But then I was stuck staring at those common 1959-1975 Lincolns. Too ordinary to collect, too nostalgic to just spend at face value. Sound familiar? If you’ve got a similar pile gathering dust, here’s what worked for me.

What to Do With Your Extra Pennies: Practical Ideas

For pennies that aren’t rare but still feel too special to dump, try these simple solutions I’ve tested:

• Take them to your bank: I’ve cashed in small batches of older coins at my local branch—they have to take them, and you walk out with cash in minutes.
• Sell to a coin shop: Most local shops buy bulk pennies. Wheat cents often go for 3¢ each, and Memorial pennies (1959-1981) around 2¢ each thanks to their copper content.
• Donate to scout troops: Boy Scouts and Girl Scouts use them for coin collecting badges. I’ve watched kids get hooked on the hobby this way—it feels great.
• Give to coin clubs: Our local club runs “junior collector” tables at shows. Donating extras there lets you see kids’ faces light up when they find something cool.
• Send to elongated cent groups: Organizations like the Elongated Cents Society turn pre-1982 pennies into souvenir pressed coins—a neat second life!

The Copper Factor

Here’s something I didn’t realize at first: Pre-1982 pennies are 95% copper, making their metal worth about 2-3 times face value right now. That’s why some folks hoard them by the bucketload. If you’ve got thousands, selling online to copper stackers might net you a small profit—just check metal prices first.

Always Hunt Before You Cash Out

Before you move those pennies, grab a magnifier! I’ve found valuable doubled dies and repunched mint marks in ordinary-looking rolls. Even 1970s cents can have errors that make collectors pay up. One quick search could turn a common penny into your next great find.

Passing On the Passion

My favorite part? Seeing how these “worthless” pennies spark new collectors. When you donate to scouts or clubs, you’re not just clearing space—you’re keeping our hobby alive. I’ll never forget watching a kid at a show gasp when she found a 1909 VDB in donated coins. That moment’s worth more than any premium.

So here’s my routine: I hunt for errors first, then donate or sell the rest. Turns a “junk” pile into something meaningful. Whether you’re new to coins or have collected for decades, those old pennies have more stories to tell than you might guess—happy hunting!