Why we should discontinue the penny?
Many of the reasons for eliminating the penny apply to other coins as well. Inflation has destroyed the value of nickels and dimes as well as pennies. 20 We could easily get rid of pennies, nickels, and dimes and be no more inconvenienced than the average person in 1913.
Are pennies worth keeping?
For most pennies, those minted in recent years are worth, well, a penny. Most wheat cents (wheat pennies were minted between 1909 and 1956) are worth about 4 to 5 cents. Those in better condition can have double-digit value. Special examples (especially those in near perfect condition) can be worth much more.
Why should pennies stay in circulation?
Proponents of keeping the penny in circulation say that its use avoids increased prices that will hurt low-income households the most, that pennies have a long lifespan and are more cost-efficient to manufacture than nickels, and that pennies are vital to several charities’ fundraising efforts.
Should I keep old pennies?
You should keep all pre-1982 pennies. If you can distinguish between 1982 brass and zinc pennies, keep the brass ones. All wheat pennies are worth keeping. Keep all pennies (even recent ones) that appear to have something “off” about them — they may be error or die variety coins.
What pennies are worth saving?
So before you say, “Keep the change,” check to see if you have any of these valuable pennies:
- 1943 Bronze Lincoln. (Image: Heritage Auctions, HA.com)
- 1969-S Doubled Die Obverse.
- 1992 Close AM Reverse.
- 1972 Doubled Die Obverse.
- 1995 Doubled Die Obverse.
- 1999 Wide AM Reverse.
- 1983 Double Die Reverse.
Is it worth keeping copper pennies?
If you decide to do this, consider the following: 1. You want to focus on hoarding pre-1982 U.S. pennies, which contain 95% copper content, making the coin at least twice as valuable as its 1 cent face value. (Post-1982 pennies are not worth collecting, as they contain only 2.5% copper content — the rest is zinc.)
Can you melt down pennies and sell the copper?
Effective today, the U.S. Mint has implemented an interim rule that makes it illegal to melt nickels and pennies, or to export them in mass quantities. With the soaring price of copper, a melted-down penny or nickel is now worth more than it would be in its regular state at face value.
Can copper pennies be sold for scrap?
As many scrap metal enthusiasts know, copper is a fairly valuable metal. Because of this, older pennies that contain copper are often considered to be worth more than their face value in scrap metal. However, melting these pennies down is illegal, meaning that they are not viable for scrapping at this time.
Can I sell copper pennies?
Not only is it illegal to scrap copper pennies or any US currency but it can come with a costly fine and a visit to prison. Many times scrap yards are asked by people if they take pennies or other coins for scrap.
How much are pure copper pennies worth?
4 It contains about 2.95 grams of copper, and there are 453.59 grams in a pound. 5 The price of copper on Dec. 10, 2019, was $2.75 a pound. 6 That meant the copper in each penny was worth about 1.7 cents.
How much is a 1982 penny worth?
The 1982 obverse doubled die copper large date penny is also valuable, but it’s worth considerably less than the small date zinc double die. A piece of the other 1982 penny varieties in uncirculated grade is worth $2 to $4.
What was the last year pennies were made of pure copper?
The alloy remained 95 percent copper and 5 percent zinc until 1982, when the composition was changed to 97.5 percent zinc and 2.5 percent copper (copper-plated zinc). Cents of both compositions appeared in that year. The penny’s original design was suggested by Ben Franklin.
What pennies are made of pure copper?
If your Lincoln Memorial penny has a date before 1982, it is made of 95% copper. If the date is 1983 or later, it is made of 97.5% zinc and plated with a thin copper coating. For pennies dated 1982, when both copper and zinc cents were made, and best way to determine their composition is to weigh them.
How much is a 1983 copper penny worth?
It’s true — there’s a rare 1983 copper penny (specifically, a 1983-D penny) that’s worth $15,000. It’s a coin that many numismatic experts (those who study coins) still don’t fully understand — because it’s unlike any other copper penny the United States Mint has ever made.
What year pennies have the most copper?
1982
Is a 1982 penny rare?
The most valuable 1982 penny is a transitional error caused by the move from 95% copper to 99.2% zinc composition. It’s the 1982-D “small date” Lincoln Memorial cent made from copper. Leftover copper planchets struck with the new “Small Date” dies meant for zinc coins caused this error coin rarity.
What is a 1982 small date copper penny worth?
USA Coin Book Estimated Value of 1982 Lincoln Memorial Penny (Copper – Small Date Variety) is Worth $0.55 or more in Uncirculated (MS+) Mint Condition.
Why is a 1982 D penny rare?
Newly found 1982-D Small date copper cent. The Mint switched over from striking copper-alloy to copper-plated zinc planchets sometime in mid-1982 as a cost saving measure – the copper-alloy planchets were too expensive to strike and the Mint was losing money. But it didn’t end there.
How much is a 1982 small date zinc penny worth?
USA Coin Book Estimated Value of 1982 Lincoln Memorial Penny (Zinc – Small Date Variety) is Worth $0.88 or more in Uncirculated (MS+) Mint Condition.
Where can I sell my copper pennies?
1. Sell them on Craigslist or Ebay. Many people are hoarding these old pennies in bulk.
Where can I sell pennies?
Let’s look at the 3 main ways to sell your coins.
- 1.) Sell to a Coin Shop – Now the coin dealer is going to buy them for less than they are worth, and this is normal.
- 2.) Physical Auction – You may want to find an auction and see if the auction house is interested in listing your collection.
- 3.)
How much is a penny worth in scrap?
At 2.95 grams of copper per penny, we have a total of 5,919 pounds, which a scrap dealer might be willing to buy for $17,757 ($3.00 per pound).
How much is a zinc penny worth?
Common 1943 Steel Penny Values
| Date & Mint | Circulated | Uncirculated |
|---|---|---|
| Buy | Buy | |
| 1943 Zinc | $0.10 | $2.60 |
| 1943-D Zinc | $0.13 | $3.50 |
| 1943-S Zinc | $0.18 | $6.10 |
How much is a 1943 d silver penny worth?
CoinTrackers.com has estimated the 1943 D Steel Wheat Penny value at an average of 45 cents, one in certified mint state (MS+) could be worth $12.
How rare is a 1943 steel penny?
The 1943 steel cents are quite common, and more than 1 billion were struck.