Pennies, have you been looking!
By gangus2
@gangus2 (373)
United States
April 20, 2008 3:59pm CST
I save pennies, and have been for sometime now. I only save them because no one in my home like to use them. They lay them all around the house, so I started putting them in a water jug, just to get them out of the way.
My daughter told me yesterday, that some of those pennies might be worth alot of money. She told me that a 1943 penny with certain letters, is worth about $70,000. So we broke out the jug and went throuth the pennies. A 1955 penny is worth about $10,000 if it is double-stamped.
I wasn't lucky enough to have either of those pennies, but it was alot of fun just going through them. I found alot of wheat pennies, which she told me to hold on to them. A friend told me to hold to all of them because they heard that they will soon stop circulating pennies. So if you have penny's go through them, and good luck.
Karen
4 responses
@jdrhodes (111)
• United States
11 May 08
I believe that they will stop circulating the one cent piece. It is not profitable for the mint to make them, because they cost more to make than they are worth, and lots of people hoard them. Particularly with inflation this coin is rapidly becoming obsolete. I imagine people will start rounding up to the closest five cents. What can you even buy for a cent? The actual metal content of a pre-1982 cent is worth more than a penny. It's only worth 2 cents, but still...copper is a heavily used commodity. The new cents have hardly any copper at all. A coin becoming obsolete isn't anything new. Would it suprise you to know that the U.S. once minted half cent, 2 cent, and 3 cent coins? Those coins are obsolete because a penny isn't worth anything from a currency standpoint. A collectors point of view is different. The only reason a double-stamped coin is worth anything is if you have a collector who is willing to purchase it from you. Look at ebay to see what kinds of coins are selling. You may be suprised. Oh just fyi the penny is a U.K. coin they generally use the slang term "copper" for, the U.S. has never minted a penny. It is a one cent piece.
@jdrhodes (111)
• United States
17 May 08
I've heard rumors of an American trade union involving all of north and south america, with the possibility of a new currency altogether, not unlike the Euro. I've even seen prototype coins on sale on Ebay called Ameros. Who knows what is is store for the United States currency, I think perhaps it is too proliferant to retain value, and with the ability to electronically bank I do no not believe the Federal Reserve has the ability to control the number of dollars out there like they once were able to. Our concept of money may have to change radically in the not to distant future. After all, what is currency but a fancy IOU?
@gangus2 (373)
• United States
14 May 08
Thank you for responding, and all the information too, I don't know that much but I have heard that the penny cost more to make and there is speculation that they may indeed do away with pennies or make steel pennies. With all the speculation, I am one who is going to hold on to my pennies and see what happens.
Thanks, again
Karen
@freak369 (5113)
• United States
11 May 08
I doubt they will ever get rid of pennies, if they do they are going to have to wait years for people to cash them in or change prices in stores to round up or round down. It costs more to make a penny than what it is actually worth which is pretty funny when you stop and think about it.
@gangus2 (373)
• United States
14 May 08
Thanks for responding, lately there has been talk about bringing back the steel penny since indeed it cost more to make one then it is worth. I know I am holding onto my pennies, even if they don't change them to steel, I am just lazy about spending them.
Thanks, again
Karen
@lovespecialangel (3632)
• United States
7 May 08
I do usually keep my pennies and do plan on going through them. I just read another post about the worth of the pennies. I will probably not have any of those, but it would be nice. I know I have some wheat pennies though.
@gangus2 (373)
• United States
7 May 08
Thanks for responding, save your wheat pennies, and look for anything unusual. I read about a 1955 penny that the year date is doubled stamp, worth about 10,000.00. It was easy to find the wheat pennies, just turn them over.
Good luck and thanks, again
Karen
@kezabelle (2974)
•
20 Apr 08
We have loads but none that old we have so many i wouldnt even want to start going through them.
Normally we save all our loose change then take it and stick it in a machine that gives you the money in notes to spend instead easier than trying to bag and bank it
@gangus2 (373)
• United States
14 May 08
Thank you for responding, I too, take the loose change and use one of the those "Star" machines, but I separate the silver from the pennies and am too lazy to cash the pennies in. I didn't want to go through them either, but my daughter's talked me into it. The easy way was to turn the pennies over, we only looked for the wheat pennies.
Thanks, again
Karen
