What to Do with Old Pennies: My Practical Guide for Collectors

I recently dug up a stash of old pennies—about $30 worth, all dated 1940 to 1975—and it sent me on a real trip down memory lane. As someone who’s loved coins since I was a kid (especially those wheat pennies!), I roped my family into sorting them with me. We filled Whitman folders together, laughing about how I used to do this as a boy. But afterward, I stared at this mountain of common 1959-1975 pennies. They weren’t special enough to keep forever, but just spending them felt… wrong. So I got curious—what could I actually do with these? Here’s what I discovered.

Making Sorting a Family Adventure

Sorting with my kids was the best part. We pulled every wheat-back (pre-1959) for our collection—teaching them about mint marks and dates while chasing that satisfying “click” when a coin slides into an empty folder slot. My tip? Grab a basic album. It turns what could feel like work into a treasure hunt. But when the wheaties were safely tucked away, I still had piles of later pennies staring back at me.

What to Do with Those Extra Pennies

Those 1959-1975 coins added up fast. Too common to collect, but too old to just toss in a Coinstar. I tested every practical option that still felt right for a collector. Here’s what worked:

• Donate to youth programs: Local Scout troops or library coin clubs love these for merit badges. I dropped a roll at our Boy Scout meeting last month—watching kids examine them reminded me of my first Lincoln cent.
• Cash in on copper: Here’s a fun fact: every penny before 1982 is mostly copper. With metal prices up, my local coin shop pays 2¢ each for common copper cents (1959-1981) and 3¢ for wheat backs. Easy money if you’ve got volume.
• Feed the penny squishers: Ever seen those machines at fairs that elongate coins? Groups like the Elongated Collectors snap up pre-1982 cents for their events. Perfect way to keep coins circulating in the hobby.
• Play detective first: Before letting any go, I give them a quick once-over. Dates like 1960 or 1972 sometimes hide doubled dies—I once found a $20 error coin in a “junk” pile!
• Bank them as a last resort: Yes, banks still take them. It’s simple for small amounts, but honestly? Feels like admitting defeat.
• Fuel young collectors: Our coin club uses donated pennies for “junior tables” at shows. Nothing beats seeing a kid’s eyes light up when they find their first 1960s Lincoln.

A Few Hard-Earned Lessons

This whole process taught me some things. First, those pre-1982 pennies aren’t just clutter—they’re little copper time capsules. With inflation, a roll of 50 could be worth over $1 in metal alone. Always give coins a quick grade before selling; decent condition common dates can bring a small premium. And never underestimate the hunt—some of my best finds came from batches I almost dismissed.

Passing On the Bug

What surprised me most? How donating a handful of pennies can spark a new collector. Seeing kids at our club’s table, magnifiers in hand, took me right back to my first blue Whitman folder. If you’ve got extras, share them—it keeps our hobby alive. In the end, handling old coins isn’t about hoarding. It’s about making smart choices that respect their history. I’m still turning my leftovers into stories, and I hope you can too.