Change in Penny Production Sparks Collector Interest
SPRINGFIELD, Mo. – With the U.S. Mint halting penny production, coin enthusiasts are sharing insights on which coins might be worth keeping versus those that are alright to spend.
Dave Sorick, passionate about coins since his teenage years and currently the president of the National Numismatic Association, views this decision as a significant moment for a historically important coin. “The cent has always been a very strong coin, and it would be a shame to see it phased out,” he remarked.
Collectible Old Pennies
Sorick pointed out that since no more pennies are being minted in Philadelphia, it’s wise to hold onto certain older coins. “Pre-1958 coins, known as wheat cents, are quite collectible. In fact, most collectors begin with wheat pennies. After 1958, from 1959 to 1981, the cents were made of copper,” he explained.
However, he advised against selling these coins immediately; it’s better to retain them for potential future auctions. Jeff Ford from Patriot Gold & Silver in Springfield added that the current demand from buyers is pretty limited. “The copper value of an old penny is about two and a half to three cents. Wheat cents still retain some value, but you pay two cents for a regular penny and can only sell them for four cents each. So, it’s not a big profit,” Ford noted.
Pennies After 1981 Should Be Spent
Sorick believes that pennies minted post-1981 aren’t likely to gain much value, making them more suitable for everyday transactions—especially during times when businesses are experiencing coin shortages. “The average American household probably has around $80 in spare change just lying around—whether it’s in the car, on the couch, or elsewhere. There’s plenty of change that can be put back into circulation, and I think that’s the responsible route to take,” he suggested.
Looking ahead, Sorick anticipates that the Mint might create special commemorative pennies for significant anniversaries in the near future. “Next year marks the 250th anniversary of America’s founding, and I expect the Mint to roll out products for that occasion. I’m also eager about special plans for 2026—perhaps a commemorative Lincoln cent,” he added.
