FYI - It is illegal to melt pennies and sell the raw metal. One cent coins made after 1982 consisted of 97.5% zinc and 2.5% copper. In an effort to thwart a melt off of pennies in 1982, the United States Mint made half of the pennies out of solid copper and the other half out of copper plated zinc.
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. And pennies dated from 1879 to 1909 are worth at least $1.
“The Philly small-date zinc cents bring the most money – they're the toughest, and I'd pay $30 per (50-coin) roll for those in uncirculated. The copper small-date cents are also tough, but they're not worth as much.” He says rolls of all the other 1982 cent varieties are worth $2-4 in uncirculated grades.
Selling Wheat Pennies to dealers often takes place in person. Old wheat pennies are heavy, a roll of 50 coins is expensive to send through the mail. Finding a local dealer to meet at either their shop or at a coin show is economical.
CoinTrackers.com has estimated the 1962 Lincoln Penny value at an average of 1 cent, one in certified mint state (MS+) could be worth $29.
We'll talk more about this in a minute and explain why some of these rare pennies are worth so much: 1964-D penny (Denver) – 3,799,071,500 (about 3.8 billion) minted; 10 to 25+ cents. 1964 proof penny – 3,950,762 minted; $1+ 1964 SMS penny (special mint set) – approximately 30 estimated to be minted; $5,000+
Value of a 1943 Steel PennyThey are worth about 10 to 13 cents each in circulated condition, and as much as 50 cents or more if uncirculated.
Check out these eight coins that are worth a lot more than their intended value.
- 2004 Wisconsin state quarter with extra leaf.
- 2. 1995 double die penny.
- 1942-1945 silver nickel.
- 1943 steel penny.
- Ben Franklin half-dollar.
- 1932-1964 silver quarter.
- 'In God We Rust' 2005 Kansas state quarter.
The U.S. Mint Lost $69 Million Making Pennies Last Year - Government Executive. Get the latest on need-to-know topics for federal employees delivered to your inbox.
Bank Governor: it makes sense to scrap the 1p coinEvery one cent coin costs 1.65 cents to produce and distribute.
Issuing pennies doesn't seem to make much economic sense. Last year, each penny cost 1.5 cents to make -- about 50 percent more than its face value -- and all the pennies the U.S. Mint issued last year cost it $46 million.
Save articles for laterThat's right, the cost of producing a 5¢ piece is about 5.059¢, and this is about the cheapest it's been in recent years.
The price of copper has more than quadrupled over the past 10 years. So a penny produced before 1982 is worth 2.2 cents based on the metal it contains.
The cost to produce the 1-cent coin rose to 1.5 cents in the 2016 fiscal year, Mint spokesman Tom Jurkowsky said. That's the first time costs have been up since 2011, but still just the latest in a string of losses for the most abundant but least valuable coin in circulation.
The penny helps keep high prices in check. The alternative to the penny, rounding prices to the nickel, hurts consumers. In fact, government costs will increase without the penny. Forth, America's wonderful charities raise millions from the penny.
Many of the reasons for eliminating the penny apply to other coins as well. Their lowest coin could buy what the quarter does today. Our pockets would be lighter by not having to make the additional change. Time spent at the register would be less without having to count out dimes, nickels, and pennies.
The US Mint announced this morning that they will phase out the production of new pennies beginning in late 2021, and mint the last batch of pennies on April 1, 2022.
1964 SMS Kennedy half dollar
USA Coin Book Estimated Value of 2020-D Lincoln Shield Penny is Worth $0.32 or more in Uncirculated (MS+) Mint Condition. Click here to Learn How to use Coin Price Charts. Also, click here to Learn About Grading Coins.
CoinTrackers.com has estimated the 1995 Lincoln Penny value at an average of 1 cent, one in certified mint state (MS+) could be worth $1.
Look for ErrorsLook for die cracks and missing elements. Pay special attention to the words and edges of images. Look for strike mistakes such as doubling, cracks or missing sections. Tilting the coin in the light may pick up errors you don't see head-on.
CoinTrackers.com has estimated the 1967 Lincoln Penny value at an average of 1 cent, one in certified mint state (MS+) could be worth $12.
CoinTrackers.com has estimated the 1952 Wheat Penny value at an average of 15 cents, one in certified mint state (MS+) could be worth $18.
To help you combat the penny problem, here are some strategies for spending them, plus ways to put them to creative use.
- DEPOSIT THEM AT THE BANK.
- TAKE THEM TO A COINSTAR MACHINE.
- MAKE A COLD COMPRESS.
- CREATE DIY DRAPERY WEIGHTS.
- SEPARATE THEM INTO DENOMINATIONS BEFOREHAND TO MAKE SHOPPING EASY.
- DECORATE YOUR FLOORS …
CoinTrackers.com has estimated the 1951 Wheat Penny value at an average of 15 cents, one in certified mint state (MS+) could be worth $18.
Although many factors determine the exact value of a coin, you can quickly determine the value of your penny by knowing the date, mint mark, and grade. The United States Mint has made four different types of small cents: Flying Eagle Penny (1856-1858)
CoinTrackers.com has estimated the 1975 D Lincoln Penny value at an average of 1 cent, one in certified mint state (MS+) could be worth $9.
25 Most Valuable US Pennies
- 1.) 1944 Steel Wheat Penny - Worth $110,334.
- 2.) 1943 Copper Wheat Penny - Worth $85,782.
- 3.) 1873 Indian Head Penny - Worth $10,000.
- 4.) 1914 D Wheat Penny - Worth $5,500.
- 5.) 1922 D Wheat Penny - Worth $5,000.
- 6.) 1877 Indian Head Penny - Worth $3,200.
- 7.) 1926 Wheat Penny - Worth $3,000.
- 8.)
Top 10 Rare U.S. Coins
- 1933 Saint-Gaudens Double Eagle.
- 1804 Draped Bust Dollar.
- 1861 Confederate States Half-Dollar.
- 1974 Aluminum Penny.
- 1913 Liberty Head Nickel.
- 1776 Silver Continental Dollar.
- 1943 Copper Penny.
CoinTrackers.com has estimated the 1976 Lincoln Penny value at an average of 1 cent, one in certified mint state (MS+) could be worth $0. So when we say average, we mean in a similar condition to other coins issued in 1976, and mint state meaning it is certified MS+ by one of the top coin grading companies.
7 of the most valuable coins in the world
- The 1794 Flowing Hair Silver Dollar. picture alliance/Getty Images.
- The 1787 Brasher Doubloon. Stephen Chernin/Getty Images.
- The 1787 Fugio cent.
- The 723 Umayyad Gold Dinar.
- The 1343 Edward III Florin.
- The 1943 Lincoln Head Copper Penny.
- The 2007 $1 Million Canadian Gold Maple Leaf.
Eventually, they decided to use steel to make the pennies in 1943. About 40 copper pennies were struck in 1943. One possible reason for this is because the copper plates were accidentally left in a few machines. While the 1943 steel pennies are worth a few bucks, the rare copper version is worth more.
CoinTrackers.com has estimated the 2000 Lincoln Penny value at an average of 1 cent, one in certified mint state (MS+) could be worth $1.
The 1944 Lincoln penny is particularly desirable in the eyes of collectors not only because of its design, but also due to its scarcity. Being that there are no more 1944 Lincolns being produced, the scarcity of these coins is constantly on the rise, thus making the coins more valuable.
USA Coin Book Estimated Value of 1999-S Lincoln Memorial Penny (Close AM Variety) (Proof Coin) is Worth $87 or more.
