What to Do with Your Hoard of Old Pennies: My Numismatic Guide

Finding a jar full of old pennies – about $30 worth, all dated 1940 to 1975 – was a fun surprise that really got me back into sorting coins. Like many of you, I’ve held onto wheat pennies since I was a kid. Sorting through this batch with my own children, filling those familiar Whitman folders, was a real treat. But then came the question: what about all those Lincoln Memorial cents from 1959 onward? They’re mostly too common to be valuable, yet tossing them out feels wrong. After trying different approaches, here’s what I learned about dealing with that penny pile.

Sorting and Preserving the Wheat Pennies

Got wheat cents? Definitely hang onto those! They’re my priority, perfect for the collection or to share with family. They’re such classic pieces of Americana. Sorting them with kids is honestly one of the best ways to spark an interest in coins. Work on filling those folders or albums, and remember to watch for the big ones – like the 1909-S VDB or the 1955 doubled die. Spotting one of those could make your day!

Options for Unwanted Pennies

For the Lincoln Memorial cents (1959-1975), I found a few paths that made sense. Here’s what worked for me:

• Donate to Youth Groups: This really warms my heart. Giving them to local Boy Scouts or Girl Scouts working on their coin-collecting badges supports the next generation and gets them excited about the hobby.
• Sell for Profit: Don’t forget, most pre-1982 pennies have copper worth more than a cent. My local coin shop (LCS) usually gives me about 3 cents each for wheaties and 2 cents for Memorial cents. Online sales work too – just remember shipping costs eat into profits.
• Search for Varieties First: Before you let any go, always double-check for errors or varieties. Dates like the 1960 small date or the 1972 doubled die can turn a common cent into something special. Grab a magnifier and your favorite guidebook – you might be surprised!
• Donate to Coin Clubs: Clubs like the Elongated Cents group use them to make pressed pennies at shows, which kids adore. Many local clubs also have ‘kid’s tables’ at events, and donations help keep those young collectors engaged.

Market Insights and Practical Tips

Keep an eye on copper prices. When they jump, holding onto those pre-1982 cents might pay off. Right now, their melt value often beats face value, making them a small but interesting stash. When selling, I give them a quick grade: look for Lincoln’s features to be sharp and wear to be light for the best price. Rolling them neatly makes banks more likely to take them if you deposit (always call first to check). If rolling sounds tedious, donating is a simple way to clear space and help the hobby.

Encouraging the Next Generation

The best part for me? Seeing how pennies can light a fire in young collectors. Donating to scouts or clubs isn’t just getting rid of coins; it’s planting seeds of curiosity. Watching kids get excited at coin shows reminds me exactly why we do this: to save history and share the fun. Plus, it’s a great way to chat with family about history and money.

Honestly, dealing with old pennies doesn’t need to be a headache. Whether you sell them, donate them, or hunt for hidden treasures, it’s a rewarding corner of the hobby. How do you handle your finds? I’d love to hear your stories in the comments below!