Penny Hoarders Hope For The Day The Penny Dies (2024)

FAQs

Why is a 1982 penny worth $10000? ›

So for the past 30 years, pennies have been made with an alloy comprised of 97.5% zinc and 2.5% copper, but pennies minted before 1982 are 95% copper and 5% zinc. The price of copper has more than quadrupled over the past 10 years.

It turns out all pennies with a date of 1981 or earlier were made from nearly pure copper, which means they are actually worth three times their face value - three cents.

USA Coin Book Estimated Value of 1982-D Lincoln Memorial Penny (Copper - Large Date Variety) is Worth $0.33 or more in Uncirculated (MS+) Mint Condition.

These days, pennies are made out of mostly zinc. The metal inside is worth about one cent. But before 1982, they were mostly copper. WARDAK: Nineteen eighty-two and prior, they were 90 percent copper and they're worth about two cents, maybe a little more depending on the price of copper.

It is not illegal to melt, form, destroy, or otherwise modify US coins, including pennies, unless the objective is fraudulent or with the intent of selling the raw materials of the coins for profit. Projects that use coins as materials are entirely legal in the United States.

Canadian copper pennies have a higher copper content at 98%, the balance being zinc and tin. Why should I save Copper Alloy cents/pennies? Some 1982 and all prior years are made with 95% copper. With copper at historic high prices, each of these coins are worth much more in actual metal content, than their face value.

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.

Many online debates have popped up over the legality of melting down U.S. coins. It is not illegal to melt, destroy, or modify any U.S. coins in the United States.

Discovered several years ago while our consignor Jeff Young was searching through rolls of cents, this 1983-D cent struck on a bronze cent planchet remains unique, making it rarer even than the 1974 experimental aluminum cents.

The 1982-D small date bronze Lincoln cent is a rare and valuable transitional error! So, how do you find them? There are two key diagnostics: the size of the date and the coin's weight. The 1982-D small date bronze weighs about 3.1 grams, versus only 2.5 grams for the far more common zinc issue.

How do I know if my 1983-D penny is copper? ›

If your Lincoln Memorial penny has a date before 1982, it is made of 95% copper. If the date is 1983 or later, it is made of 97.5% zinc and plated with a thin copper coating. For pennies dated 1982, when both copper and zinc cents were made, and best way to determine their composition is to weigh them.

Each 1¢ penny is worth approximately 2.3860¢ in scrap metal.

2021. Now that we know how much “revenue” we can get per penny, we need to figure out how much it would cost to obtain that revenue. In other words: how much does it cost to melt down the penny?

254, enacted July 23, 1965, eliminated silver from the circulating United States dime (ten-cent piece) and quarter dollar coins. It also reduced the silver content of the half dollar from 90 percent to 40 percent; silver in the half dollar was subsequently eliminated by a 1970 law.

6 That meant the copper in each penny was worth about 1.7 cents.

The amount of copper in a penny is (95% of 3.11 grams) \approx 2.95 grams. The amount of copper in a pound of copper is 454 grams. Therefore, the number of pennies in a pound of copper is \frac{\text{grams copper in a pound}}{\text{grams copper in a penny}} = \frac{454}{2.95} \approx 154.

If you were to melt down a single $0.05 nickel coin today, the metal you get would be worth $0.079. That's a nearly 60% markup of price versus material. It means a $2.00 roll of nickels, containing 40 coins, would be worth $3.18. But nickel is needed for more than just coins.

1943-S Lincoln Cent Sells for $1 Million.

What's the rarest penny? ›

A penny from 1909 was the star of the show. It is, in fact, considered one of the rarest and most highly valued pennies in existence, made to celebrate the centennial of Abraham Lincoln's birth and inscribed with the initials of its designer, Victor D. Brenner. It sold for $365,000.

If one side of a penny brings good luck, the other side brings bad. So if you accidentally pick up a penny that is tails side up, you are supposed to put it back down head side up to bring good luck to the next person.

1943 D Wheat Penny Value

According to the NGC Price Guide, as of November 2022, a Wheat Penny from 1943 in circulated condition is worth between $0.05 and $1.25. However, on the open market 1943 D Pennies in pristine, uncirculated condition sell for as much as $1900.

The Rare 1943 Penny

If your 1943 penny is made out of copper, it is worth quite a bit of money, generally $10,000 or more! The reason is that the 1943 copper penny is an error coin. The United States Mint accidentally used the wrong planchet metal when striking the coin. But very, very few of these left the U.S.

Because of its collector value, the 1943 copper cent has been counterfeited by coating steel cents with copper or by altering the dates of 1945, 1948, and 1949 pennies. The easiest way to determine if a 1943 cent is made of steel, and not copper, is to use a magnet. If it sticks to the magnet, it is not copper.

$0.0240581 is the melt value for the 1909-1982 copper cent on November 25, 2022.

Once it was hard to tell a penny from a dime...

In 1943, copper was needed for war materials, so pennies were made out of zinc-coated steel.

Try picking your coin up with a magnet. If your coin is attracted to the magnet, it is made of copper-plated steel (a fraud). If the magnet does not attract your coin, it may be made of bronze and you should have the coin authenticated to determine if it is the "real deal". In 1943, the U.S.

What makes a 1982 penny rare? ›

The most valuable 1982 penny is a transitional error caused by the move from 95% copper to 99.2% zinc composition. It's the 1982-D "small date" Lincoln Memorial cent made from copper. There wasn't supposed to be any "small date" bronze Lincoln cents struck in Denver in 1982.

To make things even more interesting for coin collectors, the Mint introduced a modified obverse design halfway through the year. Among other things, they made the date smaller. This resulted in seven different versions of the 1982 Lincoln penny, not counting the proof bronze 1982-S cent from the San Francisco Mint.

1982 D Penny Copper Large date 3.11 gram.

If So, Then You Might Have The Rare 1983 Copper Penny Worth $15,000! There's a rare 1983 copper penny (a 1983-D penny) worth $15,000 -- you could find one in your pocket change! Here's what to look for + Other rare copper pennies.

It is a well known fact that pennies minted from 1982 and back are made of 95% copper. These copper pennies are not rare at all.

10,000 pennies are in $100. Every dollar is 100 pennies, and 100 x 100 = 10,000. 10,000 pennies take up 213 cubic inches and weigh 55.1 pounds.

Yes, you can buy American Silver Eagle coins at a bank. The U.S. Mint indicates that it sells Silver Eagles to authorized purchasers.

To put it simply, picking up just one penny or one coin would not impact your life in any way – whether you are Bill Gates or not. On the other hand, watching out for spare change and collecting it over a period of time will surely help you save small amounts of money – sans the need of putting in any effort.

The penny is composed of 97.5% zinc and 2.5% copper. How Much Is A Penny Worth: It has been widely circulated that the value of a penny can be worth more than 1 cent. Based on the increased prices of zinc and copper and a melting calculator, the report is true.

What coins are pure silver? ›

The Silver Eagle is the only silver bullion coin with a weight, purity, and silver content guaranteed by the U.S. government. These coins have a . 999 purity and contain a troy ounce of silver. The United States Mint produced the first American Silver Eagle coins in 1986.

Why are silver 1965 quarters so rare? Silver 1965 quarters are special because they're transitional error coins. In 1964, quarters were still struck with a 90% silver planchet. In 1965, quarter production changed to a clad composition planchet made of copper and nickel.

In 1982, the fast-rising price of copper forced the U.S. Mint to change the composition of the penny to primarily zinc, with pure copper plating. This change allowed the “copper” penny to retain its traditional appearance.

That said, the rarest of the 1982 pennies is the 1982-D small date penny. There's been, so far, only one discovered. The penny is worth 2¢ in its circulated version but very expensive for the rare uncirculated version.

The 1982-D small date bronze Lincoln cent is a rare and valuable transitional error! So, how do you find them? There are two key diagnostics: the size of the date and the coin's weight. The 1982-D small date bronze weighs about 3.1 grams, versus only 2.5 grams for the far more common zinc issue.

For pennies dated 1982, when both copper and zinc cents were made, and best way to determine their composition is to weigh them. Solid copper pennies weigh 3.11 grams (+/- 0.130 g.), whereas the copper plated zinc pennies weigh only 2.5 grams (+/- 0.100 g.).

1982 D Penny Copper Large date 3.11 gram.

Upon changing the composite from solid copper to the zinc and copper alloy, so to did the weigh of the coins themselves. Prior to 1982, a penny made completely of copper was significantly heavier than the zinc and copper alloy counterparts.

A penny from 1909 was the star of the show. It is, in fact, considered one of the rarest and most highly valued pennies in existence, made to celebrate the centennial of Abraham Lincoln's birth and inscribed with the initials of its designer, Victor D. Brenner. It sold for $365,000.

How many 1982 small date copper pennies have been found? ›

The 1982-D has been a highly sought-after coin ever since the first one was discovered in Minnesota in 2016 and sold for $18,800 at auction. Now that a second specimen has been found, it gives collectors even more hope of finding one. A second 1982-D Small Date hom*ogenous copper alloy Lincoln cent has been discovered.

It is a well known fact that pennies minted from 1982 and back are made of 95% copper. These copper pennies are not rare at all. When I coin roll hunt, I find LOTS of copper pennies.

1983-D Lincoln Cent--Struck on a Bronze Planchet--AU-55 (PCGS). 3.10 grams.

Pennies minted after 1983 weigh 2.50 grams while the earlier copper pennies, from 1865 through 1982, weigh 3.11 grams. Pennies made between 1859 and 1864 had a different composition, with the same diameter, and weighed 4.67 grams. A roll of pennies contains 50 coins.

There are nominally seven different official varieties of this transitional Lincoln Memorial cent. The coins above have collector value only in grades of Mint State 67 and higher.

If So, Then You Might Have The Rare 1983 Copper Penny Worth $15,000! There's a rare 1983 copper penny (a 1983-D penny) worth $15,000 -- you could find one in your pocket change! Here's what to look for + Other rare copper pennies.