The Penny’s Days Are Numbered
The U.S. Treasury announced in February 2025 that it will stop minting pennies starting early 2026. This decision comes as producing each penny costs nearly four cents, leading to an estimated $56 million in annual savings. While over 114 billion pennies are currently in circulation, many may soon become rare—and potentially more valuable than their one-cent face value. So, what should you do with all those pennies gathering dust in your jars?
Why Pennies Are Worth Saving
Even though pennies will remain legal tender, they are expected to become increasingly scarce once minting halts. Coin experts like Sarah Thompson, owner of a coin shop in Austin, Texas, suggest that copper pennies could increase in value over time. “Copper prices are climbing, and some pennies are already worth two to three cents just for their metal content,” she explains. On top of that, rare pennies with minting errors can fetch thousands or even millions of dollars. It’s a great time to start checking your change.
Rare Pennies to Hunt For
Not all pennies are created equal. Some are prized treasures for collectors. Here are a few of the most valuable pennies you might come across:
| Coin | Estimated Value | Key Feature |
|---|---|---|
| 1943-D Bronze Wheat Penny | Up to $159 million | Bronze error instead of steel |
| 1909-S VDB Lincoln Cent | Up to $258,000 | “VDB” initials on the back |
| 1969-S Doubled Die Penny | Up to $126,000 | Doubled text on the front |
| 1914-D Lincoln Penny | Up to $159,000 | Low mintage of 1.2 million |
How to Spot a Valuable Penny
Start by checking the year and mint mark, usually a small “D” (Denver), “S” (San Francisco), or no mark (Philadelphia). For the famous 1943-D Bronze Wheat Penny, look for a coppery bronze color instead of the typical silver-gray steel pennies made in 1943. The 1969-S Doubled Die penny shows doubled lettering—words like “LIBERTY” will appear doubled under magnification. Pennies with the wheat stalk design on the back (1909 to 1958) tend to be more valuable. If you find a penny that looks unusual or rare, take it to a reputable coin dealer or professional appraiser for evaluation.
Options for Your Pennies
If you have a jar full of pennies, you have several practical options:
- Roll them and deposit at your bank—most banks accept rolled coins.
- Use coin-counting machines like Coinstar in grocery stores to convert pennies into cash or gift cards. Be aware there’s often a fee of around 11-12%, but selecting e-gift cards (such as Amazon) can waive the fee.
- Donate loose change to charities that accept pennies.
- Hold on to older copper pennies, especially if you want to invest in their potential future value.
Make the Most of Your Change
With pennies gradually disappearing from production, now is a smart time to sort through your coins. You might stumble upon a valuable collector’s item or simply turn your spare change into usable cash or donations. Social media and coin shops have reported increased interest from people checking their coin jars for hidden treasures. Whether you cash them in, donate them, or hold on to them, your pennies could be more than just pocket change. Take a closer look—you might just uncover a small fortune.
FAQs
Q1: Are pennies still legal to use after minting stops?
Yes, pennies will remain legal tender even after production ends, but they will become harder to find in circulation.
Q2: How can I tell if my penny is valuable?
Check the year, mint mark, and coin condition. Look for rare features such as minting errors, unusual colors, or doubled dies. Consulting a coin expert is always recommended for accurate evaluation.
Q3: Should I keep my old pennies?
Older copper pennies may increase in value over time, so holding onto them can be a smart investment, especially if they have rare features.
Q4: Can I exchange pennies for cash at a bank?
Yes, most banks accept rolled pennies for deposit or exchange.