Quick Answer: Should I Keep Old Pennies?

How much is a 2009 Lincoln Memorial penny worth?

USA Coin Book Estimated Value of 2009 Lincoln Memorial Penny (Presidency Variety) is Worth $0.32 or more in Uncirculated (MS+) Mint Condition..

Is it worth saving copper pennies?

Copper Pennies Are Worth More Than Face Value In general, all pennies made before 1982 have a composition of 95% copper and 5% tin and zinc – with the exception that during some of those years, there was no tin in the alloy. Also, there was the steel 1943 Lincoln cent (and 1944 steel pennies, which were made in error).

Why do pennies still exist?

Why Do Pennies Still Exist? Pennies have almost no purchasing power; it costs more to mint a penny than a penny is worth; and the U.S. Mint could cut its workload significantly just by ceasing production.

Are pennies from the 60s worth anything?

The proof 1960 Lincoln Cents or pennies are valued at around $1.90 There were small and large date 1960 pennies issued and unlike the ones minted in Philadelphia these coins are worth the same no matter what the date size.

Is a 1964 D penny rare?

Most worn 1964 pennies are worth the value of their copper content — or about 2 cents. But some 1964 penny values are much higher. 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.

How many 1943 copper pennies have been found?

Nearly all circulating pennies at that time were struck in zinc–coated steel because copper and nickel were needed for the Allied war effort. Approximately 40 1943 copper–alloy cents are known to remain in existence.

Why the penny should be kept?

The penny helps keep high prices in check. The alternative to the penny, rounding prices to the nickel, hurts consumers. Second, there is strong public support for the penny. National polling shows that more than 66 percent of Americans favor keeping the penny.

Are pennies a waste of time?

Given the 107 billion cash transactions per year in 2012 (US Federal Reserve Payments Study), using pennies therefore wastes 120 million hours of time per year counting the time of both the customer and the store employee. At the US median income/hour of $17, that costs the economy $2 billion every year!

Why don’t we get rid of the penny?

Economist Greg Mankiw of Harvard University argues that pennies are simply no longer useful as a means of exchange: “When people start leaving a monetary unit at the cash register for the next customer, the unit is too small to be useful.” There are precedents for getting rid of coins that are too small to use.

Why is a 1943 penny so valuable?

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. One report suggested that, depending on the condition of it, the 1943 copper penny can be worth anywhere from $60,000 to $85,000.

How much is a 1943 D steel 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 much is a 2009 D Lincoln penny worth?

USA Coin Book Estimated Value of 2009-D Lincoln Memorial Penny (Presidency Variety) is Worth $0.32 or more in Uncirculated (MS+) Mint Condition.

What year pennies are worth keeping?

Lincoln pennies that were minted between 1959 and 1982 tend to be worth more since they are almost 100 percent copper, rather than an alloy. Improperly prepared dies can result in coins with a “double” image.

What do I do with old pennies?

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 …More items…•Mar 12, 2018

Do banks take pennies 2020?

Yes, pennies continue to be legal tender in Canada and banks accept them for cash payments.

Do banks still take pennies in 2020?

Yes. The penny will retain its value indefinitely. As such, consumers can use pennies for cash transactions with businesses that choose to accept them. … Canadians can continue to deposit pennies at their financial institution.

How much is a penny from 1943 worth?

Value of a 1943 Steel Penny They are worth about 10 to 13 cents each in circulated condition, and as much as 50 cents or more if uncirculated.

Is it OK to clean old coins?

In general, old coins should not be cleaned. While you might think that getting all the years of dirt and grime off a coin would make it more valuable, the opposite is actually true! By cleaning a coin, you may actually damage it and decrease its value. At worst, you could permanently damage the coin.

How much is a penny with a house on the back worth?

Lincoln log cabin pennies sell for roughly 10 to 25 cents if bought uncirculated from a coin dealer.

Are 2009 pennies worth keeping?

As you’ll see below, most 2009 Lincoln cents are worth face value if they’re worn — which would apply to just about any 2009 penny that you’ll find in your spare change. … 2009-D Birth and Early Childhood (Log Cabin) Lincoln Penny, Zinc & Brilliant Uncirculated — 350,400,000 minted; 20+ cents.

Is a 1964 penny worth anything?

Most worn 1964 pennies that you’ll find in circulation are worth the value of their copper content — or about 2 cents. But some 1964 penny values are MUCH higher — like the 1964 SMS penny.