The U.S. penny, that small copper-colored coin we’ve all got stashed in jars or scattered in couch cushions, might soon be a thing of the past. Talks about phasing out the penny due to rising production costs and declining use have been buzzing for years. In 2025, the U.S. Mint spends about 2.1 cents to make each penny, making it more expensive to produce than it’s worth. If the penny disappears, what should you do with the ones piling up in your coin jar? Don’t toss them—some could be worth way more than one cent, and there are smart ways to handle the rest.
Why the Penny Might Vanish
The penny’s days could be numbered because it costs more to make than its face value. Businesses often round prices to avoid dealing with pennies, and many Americans just let them pile up. The U.S. Mint has been exploring options like changing the penny’s material or scrapping it altogether, like Canada did in 2013. If the penny goes away, the coins in circulation could become collector’s items, especially rare ones. This makes now a great time to dig through your coin jar and see what you’ve got.
Hunting for Rare Pennies
Not all pennies are created equal. Some are worth hundreds, thousands, or even millions due to minting errors or historical significance. For example, a 1969-S Lincoln penny with a doubled-die obverse (where the design appears doubled) can fetch up to $25,000 in good condition. A 1943 copper penny most pennies that year were steel due to wartime needs could be worth over $1 million. Check your pennies for these key features:
| Year/Feature | Description | Potential Value |
|---|---|---|
| 1969-S Doubled Die | Doubled text/image on front | Up to $25,000 |
| 1943 Copper Penny | Copper instead of steel | Up to $1 million+ |
| 1955 Doubled Die | Noticeable doubling on date/design | Up to $1,500 |
Look at the date and mint mark (a tiny letter like “S” or “D” near the date) and use a magnifying glass to spot errors. A local coin shop or appraiser can confirm if you’ve got a gem.
Cashing In Your Common Pennies
Most pennies in your jar are probably common, worth just one cent. But don’t let them sit there gathering dust. You can take them to a bank or a Coinstar machine to cash them in. Coinstar charges a fee (about 11.9%), but some banks or credit unions will exchange rolled coins for free if you’re a customer. Another option is donating them to charities—some organizations collect spare change for good causes. If you’ve got a lot, consider selling them in bulk to collectors or metal scrappers, as pennies made before 1982 are mostly copper and could have value if copper prices rise.
Preserving Pennies for the Future
If the penny gets discontinued, its collectible value could grow over time. Keep your pennies in a cool, dry place to avoid damage. Coin holders or albums are great for organizing and protecting them. If you find any that look rare, don’t clean them cleaning can lower their value. Instead, store them carefully and get them appraised by a professional. Following coin-collecting groups on platforms like X can also tip you off to rising values or new rare finds.
Fun Ways to Use Your Pennies Now
While you’re sorting through your jar, why not have some fun? Use pennies for crafts, like making penny mosaics or coasters. Some people donate them to schools for math projects or use them in wishing wells. If you’re feeling generous, leave a handful at a store’s “take a penny, leave a penny” tray. Whatever you do, checking your coin jar now could turn pocket change into a small fortune—or at least a fun project while pennies are still around.