What to Do with Old Pennies: My Numismatic Journey

I’ve always loved coins, so when I inherited a big box of old pennies—about $30 worth dating from 1940 to 1975—I felt like a kid on Christmas morning. As a lifelong collector, I naturally started sorting through them. The wheat pennies went straight into my keeper pile for nostalgia, and filling Whitman folders with my kids became our favorite weekend activity. But then I faced that familiar collector’s dilemma: what about all those common Lincoln Memorial cents from 1959-1975? They felt like little pieces of history I couldn’t just spend or dump at the bank. Let me share how I handled this, drawing from my own coin adventures.

Sorting Through the Treasures

First things first—I separated those beautiful wheat pennies (pre-1959 gems) that always tug at my heartstrings. Sorting with the kids was pure joy; we bonded over spotting dates and mint marks while learning together. For the remaining coins? I knew better than to assume they were worthless. Even common dates can surprise you, so I grabbed my magnifier and took my time with each one.

What to Do With the Rest

Staring at piles of non-wheat pennies, I explored every option. Here’s what worked for me:

• Donate to Youth Programs: Local Scout troops and coin clubs jumped at these—they’re perfect for merit badges or kids’ activity tables at shows. Seeing young collectors light up made this my favorite choice.
• Sell for Profit: My local coin shop pays about 3 cents per wheat cent and 2 cents for copper Memorials (1959-1981). You can also sell online or at shows—especially since pre-1982 cents have copper worth more than face value.
• Hunt for Hidden Gems: Before letting any go, I spent rainy Sundays searching for doubled dies or repunched mint marks. That ordinary-looking 1972 penny? It might be a $500 variety!
• Save for Copper Value: I’m squirreling away pre-1982 cents as copper prices climb. Their metal value already beats face value—a solid play for metals buffs.
• Bank Deposit (Last Resort): Banks will take them, but why miss out on better options? This became my plan Z.

Tips From the Trenches

Here’s what I’ve learned: The market loves these old coppers—collectors pay premiums right now. When checking condition, focus on Lincoln’s cheekbone detail and watch for green corrosion. Get your family or club involved; we turned my “junk” pennies into teaching tools. And remember, common coins can become uncommon finds, so treat them gently and log your discoveries.

How It Turned Out

I donated a batch to Scouts and sold some to my coin shop—clearing space while earning cash and good karma. The big lesson? Those old pennies in your basement aren’t clutter. They’re invitations to grow your collection, hook new collectors, and maybe pad your wallet. If you’ve got a hoard like mine, grab a magnifier and dive in. Half the fun’s in the hunt!