For generations, pennies have accumulated in kitchen drawers, piggy banks, car cupholders, and giant jars on shelves. But now that penny production has officially come to an end, many Americans are taking a fresh look at the piles of spare change they’ve been ignoring for years.
Before you dump them into a coin machine or leave them gathering dust for another decade, here are the smartest ways to handle the pennies you already have.
Spend Them
Pennies remain legal tender, and businesses will continue accepting them for the foreseeable future. Using them for everyday purchases helps reduce the number of coins sitting unused in homes and allows them to continue circulating through the economy.
Look for Rare and Valuable Dates
Some pennies are worth far more than face value. Certain rare dates, minting errors, and low-production coins can command significant prices from collectors. A quick search of key dates before spending your pennies could save you from accidentally parting with a valuable coin.
Deposit Them at Your Bank
If you’ve accumulated jars full of pennies, a bank deposit can quickly turn them into usable money. Many banks still accept rolled coins, making this one of the easiest ways to clear out large collections of spare change.
Use a Coin-Counting Machine
Coin-counting kiosks remain a convenient option for people who don’t want to sort and roll coins themselves. While some machines charge a fee, they can save considerable time if you’re dealing with a large amount of change.
Sort Out Pre-1982 Pennies
Not every penny is worth only one cent. Pennies minted before 1982 contain a much higher percentage of copper than modern versions. Because of their metal content and collector interest, these older coins are often worth setting aside before cashing in the rest.
Related: The Most Valuable Pennies Still Hiding in Circulation Today
Donate Them to Charity
Small change can add up quickly when donated. Many charities, schools, food banks, and community organizations gladly accept coin donations. It’s an easy way to declutter while supporting a cause that matters to you.
Related: 12 Charities That Will Pick Up Your Donations for Free
Save a Few as Keepsakes
The final years of penny production may hold historical significance for future collectors. Setting aside a handful of coins from notable years can create a simple memento of a chapter in American currency that has come to an end.
