Old U.S. pennies may carry a value anywhere between a couple cents to over $1,000, depending primarily on the date, condition and mintmark of the coin. In general, coins with earlier dates are worth more money than those with later dates.
The value of old pennies can be determined by auction houses, collector organizations and coin dealers. The value varies based upon the type of penny, its condition, the year and place of its minting, and its overall rarity. Some organizations use coin-grading services to authenticate and value coin
Abraham Lincoln, the 16th president of the United States, is featured on the penny. In 1792, the first one cent coin was minted with a portrait of a woman with long hair, which stood for liberty. Lincoln was featured on the one cent coin beginning in 1909.
The first American penny was minted in 1787, but British pennies have been in circulation since approximately 790 CE. Pennies were introduced to what is now England by King Offa of Mercia. The first American penny was designed by Benjamin Franklin.
Current production pennies in the United States are composed of 97.5 percent zinc and 2.5 percent copper. This composition applies to all pennies produced since 1982.
Find the value of a Canadian penny by using an online price guide, such as those found on CoinsandCanada.com or CalgaryCoin.com, and comparing details about the year of its minting and image to determine price. Another option is to use a site such as eBay.com to compare current prices.
The value of an older penny depends on the date when the penny was minted. The rule of thumb is that pennies dated before 1934 are generally worth more than those dated after 1934.
Minted between 1859 to 1909, Indian Head pennies can vary in price from $1 to over $3,000, depending upon their date, condition and where they were minted. Collectors grade a coin's condition on a scale of good, fine, extremely fine and uncirculated, with uncirculated coins fetching the highest valu
Circulated 1963 pennies are only worth face value, however a penny in mint, uncirculated condition can be worth anywhere from $.05 to $.35 or more, as of 2014. The value of the penny is greatly dependent on the condition the penny is in.
Old pennies have a higher worth due to their copper content. This means they can be sold for a profit. A load of old pennies may also contain valuable collectible coins which are worth more than 1 cent when sold, says MoneyNing.