What to Do with Old Pennies: Practical Tips from a Coin Collector

I recently dug into a big jar of old pennies—around $30 worth, all dated between 1940 and 1975. As someone who’s loved coins since I was a kid, I immediately pulled out the wheat pennies. My children and I spent hours slotting them into Whitman folders, sharing stories about history with every coin. But then I faced the real question: what about the ordinary Lincoln Memorial cents from 1959 onward? They felt too special to just spend at the grocery store, so I went hunting for better ideas.

Cherishing and Sorting Wheat Pennies

For me, wheat pennies are pure nostalgia. I examined each one under a magnifier—checking for key dates like the 1943 steel cents or any rare varieties. If you’re just starting out, focus on condition first; even well-worn wheat pennies can be keepers. I store mine in acid-free holders to protect them. Holding one feels like touching history, and I want my grandkids to experience that someday too.

Handling Common Pennies: Practical Options

Those later Lincoln cents? I’ve tried a few approaches that respect their history without hoarding endlessly:

• Donate to Youth Programs: Local Scout troops love getting these for coin collecting badges. Seeing kids light up when they spot a 1960s penny? That’s magic.
• Sell for Copper Value: Pre-1982 pennies are mostly copper, and their melt value often beats face value. I’ve sold bulk lots to collectors through coin forums—easy pocket money.
• Visit a Local Coin Shop: Many shops buy common pennies—I’ve gotten 3¢ each for wheat backs and 2¢ for later dates. Plus, chatting with the owner often leads to great collecting tips.
• Hunt for Hidden Gems First: Always check for errors like the 1972 doubled die. I keep a bright lamp at my sorting table—finding one rare coin makes the whole hunt worthwhile.

Fostering Interest in the Next Generation

Here’s my favorite trick: take extras to coin show “kid’s tables” or youth clubs. I’ve watched a 1974 penny spark a child’s first collection. Libraries and schools often welcome donations too—it costs nothing but builds our hobby’s future.

Market Insights and Collecting Tips

Copper prices swing, so I check melt values before selling hoards. For grading, I look for crisp details and minimal scratches—even common dates can surprise you in top shape. Grab a Red Book; it’s my bible for spotting valuable oddities in what seems like ordinary pocket change.

In the end, these old pennies aren’t just clutter. They’re tiny pieces of history, and how we handle them matters. Whether you donate them to scouts, cash in at the coin shop, or hunt for rarities, you’re keeping stories alive.