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Should we keep the penny pros and cons?

  • Pro 1. Preserving the penny keeps consumer prices down and avoids harming low-income households.
  • Pro 2. A penny can be used for decades and is more cost-efficient to produce than a nickel.
  • Pro 3. The existence of pennies helps raise a lot of money for charities.
  • Con 1.
  • Con 2.
  • Con 3.

Why the penny should be kept?

The penny helps keep high prices in check. The alternative to the penny, rounding prices to the nickel, hurts consumers. Second, there is strong public support for the penny. National polling shows that more than 66 percent of Americans favor keeping the penny.

What pennies should I keep?

Keeping Old Pennies

  • You should keep all pre-1982 pennies.
  • If you can distinguish between 1982 brass and zinc pennies, keep the brass ones.
  • All wheat pennies are worth keeping.
  • Keep all pennies (even recent ones) that appear to have something “off” about them — they may be error or die variety coins.

Are coins galvanized?

Today all the pennies are made primarily from copper plated zinc. Coins that have a silver color should not be mistaken for silver.

Why is the 1944 wheat penny so valuable?

The 1944 Lincoln penny is particularly desirable in the eyes of collectors not only because of its design, but also due to its scarcity. Being that there are no more 1944 Lincolns being produced, the scarcity of these coins is constantly on the rise, thus making the coins more valuable.

How much is a 1944 wheat penny worth today?

CoinTrackers.com has estimated the 1944 Wheat Penny value at an average of 15 cents, one in certified mint state (MS+) could be worth $6.

What is a 1944 steel wheat penny worth?

CoinTrackers.com has estimated the 1944 Steel Wheat Penny value at an average of $77234, one in certified mint state (MS+) could be worth $110,334.

How much is a 1944 D copper penny worth?

CoinTrackers.com has estimated the 1944 D Wheat Penny value at an average of 15 cents, one in certified mint state (MS+) could be worth $6.

How many 1944 steel pennies are there?

There are probably 25 to 35 Philadelphia Mint steel cents from 1944 in existence. Just two 1944 San Francisco Mint steels are known.

How do I know if my 1944 penny is steel?

The Magnet Test Once you have a silver colored penny from 1944, you can do a simple magnet test to find out if it is the valuable steel penny or not. Basically, if your penny sticks to the magnet, it is a steel penny, and if it does not, it is copper.