mike4sigs
Member
If the Fed's quit minting pennies. What will that do for the ones currently in circulation and even more the wheats. Will make them worth more. I have seen wheats selling for 3 cents each at flee markets here and there.
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question for the coin collectors
- Thread starter mike4sigs
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It is not a question of if...it's when...and not only pennies....we will be going to a cashless society....when?? who the hell knows..but probably sooner than later......and when that occurs...all coinage and folding money will be worthless unless you just like to collect small round objects with pictures on them.
There might be a small spike in price, but because there are so many in circulation, it shouldn't last. When merchants all go to the round up/down process, most places may end up not wanting or taking them anymore.
Eventually, as that is written in the Book. The process has already started with electronic banking, bill paying, elimination of the penny, etc
One way or the other I won’t be around for it.
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THE PILGRIM
Member
A while back my Granddaughter showed an interest in Coin Collecting.
So I gifted her an old Mexican Shaving kit half full of Wheaties and a Red Book.
Recently I asked my Dau what happened to the Pennies I gave Darby?
She replied, they are in the safe!
Ok! Just leave them there, let it ride!
So I gifted her an old Mexican Shaving kit half full of Wheaties and a Red Book.
Recently I asked my Dau what happened to the Pennies I gave Darby?
She replied, they are in the safe!
Ok! Just leave them there, let it ride!
Pennies will never be considered rare or valuable. They minted billions per year.
I have 3-4 old steel 1942-3? pennies someplace.
The US Treasury says it costs 3.69¢ to mint a penny and they are considering stopping production of them all together.
I have a few of those too. I’m sure y’all have probably seen a “Fort Knox” kids safe. I have one that I got as a kid, and it’s slam full of pennies. I put them in there for years, even as an adult….just because. I doubt there are many wheat pennies in it, so probably not worth much, but I’ll just hang on to it so my heirs
will at least have something!
Here’s a picture of what I’m talking about I copied online.Larry
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GypsmJim
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Coin collecting isn't going to go away. It's a valuable hobby.
Cents made post 1982 (copper coated zinc) will at least be worth a penny. Pre-1982 have more than a cent's worth of copper in them. Wheaties are old and will continue to command a good price. If you have some Indian Heads they are the most valuable of all.
Back in 1961 I helped a family member and was gifted 3 rolls of uncirculated 1943 steel pennies. They are in MY safe....
Cents made post 1982 (copper coated zinc) will at least be worth a penny. Pre-1982 have more than a cent's worth of copper in them. Wheaties are old and will continue to command a good price. If you have some Indian Heads they are the most valuable of all.
Back in 1961 I helped a family member and was gifted 3 rolls of uncirculated 1943 steel pennies. They are in MY safe....
I doubt pennies will ever be worth anything more than their weight in copper. I have a bunch of Proof sets that probably aren't worth anything now.
Ivan the Butcher
Member
The first US penny were big like the old English Penny, there were even half penny. The First year, are called Dot or Spot pennies, because they had a spot of 1/100th troy ounce of silver in the center in addition to all the copper. These materials were provided by the government.!0,000 were authorized and 3000 were the fee for making them. 7000 were also made from personal stock of metals. This became the first US case of Counterfeiting. But since they were 100% the same, and cost the government nothing, the charges were dropped.
From the second year on, the silver was alloyed with the copper. That made them easier to make and made the metal more durable to boot.
Ivan
True in the case of newer pennies. Not in the case of earlier ones. A 1943 copper penny can fetch several hundred thousand dollars.
bushmaster1313
Member
If they are not worth anything you can send them to me and I will pay you nothing
What's gonna happen to finding one heads up for good luck?
cougar14
US Veteran
With my declining memory, when I find a tails up penny, I turn it over and leave it. I soon forget it, and when I come on to it the next day, it's a lucky one.
Bajadoc
US Veteran
I like the penny, but getting rid of it seems to make cents.........
GypsmJim
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I would guess millions!
This has been the treasure that every coin collector looks for. Not one has ever been located. There were rumors that a few copper blanks were still in the machine as the silver blanks approached, but the urban legend has never been proven.
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