The U.S. penny is officially known as the “one-cent piece.” The term “penny” was borrowed from the British penny. The U.S penny is a one-cent, face-valued coin first struck by the United States Mint in 1793. Over time, the composition and design of the cent coin has changed while its face value has not.

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<a href="https://www.govmint.com/coin-authority/post/complete-guide-to-collecting-us-pennies"><img src="https://www.govmint.com/v~4b.53/media/wysiwyg/big-US_Penny_Facts_infographic.jpeg" alt="Complete Guide to Collecting U.S. Pennies" width="500" border="0"></a><br>Source: <a href="https://www.govmint.com/coin-authority/post/complete-guide-to-collecting-us-pennies">Complete Guide to Collecting U.S. Pennies</a><br>

Why Collect U.S. Pennies?

U.S. pennies are considered one of the most popular United States coins to collect. While many people seek out these one-cent coins for pure enjoyment, others seek them for investment purposes. But, simply because they are popular to collect doesn’t mean the collector will make money.

Is It Worth Collecting Old Pennies?

So, is collecting old pennies worth it? It depends on what you want to get out of collecting U.S. pennies. Do you want to invest? Have fun? Learn? If you’re in it for the fun and excitement, collecting old U.S. pennies can absolutely be worth it. If you’re collecting to make money, remember there is no guarantee you will make a profit, and as with any investment, it can take time for it to grow in value, if ever.

Where Are Pennies Minted?

Pennies are minted by the U.S. Mint in facilities capable of mass-producing various coin denominations, bullion, or other collectible coins. Today, pennies are struck at two Mint facilities: Philadelphia and Denver. The other facilities, San Francisco and West Point, generally produce collectibles and investment-type coins (bullion).

The minting process is nearly the same for all coin types, with some minor exceptions. Mint facilities, for example, feed prepped sheets of metal through a machine that punches out disc-shaped blanks, similar to a cookie cutter. For pennies, the mint purchases pre-made discs of metal blanks. Both blanks pass through an annealing process that softens the metal so it can easily be shaped or stamped.

Next, the blanks are washed in an anti-tarnish solution and dried. The last stage includes additional shaping of the coins, such as raising the edges or rims before being sent to the press for striking. After passing one last inspection, the coins are distributed for public circulation.

What Are U.S. Pennies Made of Today?

The first U.S. pennies were made of pure copper, while today’s pennies are a mixture of copper (2.5%) and zinc (97.5%). Throughout U.S. history, the composition of pennies has changed either because of shortages due to war or the high cost of metals.

For example, during World War 2, pennies were made of steel to conserve copper. A bronze penny existed in the past too. We’ve included a quick overview of the composition of pennies throughout U.S. history down below:

Hed Dek goes here.
Type/Name	Date(s)	Composition (%)
Flowing Hair Cent	1793	100% copper
Flying Eagle Cent	1856-1858	88% copper, 12% nickel
Indian Head Penny	1859-1864, 1864-1909	(1859-1864) 88% copper, 12% nickel, (1864-1909) 95% copper, 5% tin and zinc
Bronze Penny (Lincoln Cent)	1909-1942, 1947-1962, 2009	95% copper, 5% tin and zinc
Lincoln Steel Penny	1943	100% steel, coated with zinc
Copper Coated Zinc Lincoln Cent	1982-present	97.5% zinc, 2.5% copper

How to Collect U.S. Pennies

You may want to approach building your U.S. penny collection through a few ways, depending on your experience and what you can afford. If you’re a beginner, consider collecting pennies that are easier to acquire. If you’re on a budget, however, you will want to seek out more affordable pennies. You can easily find one-cent coins for purchase at a local coin dealer or online seller. Just make sure you buy from a reputable seller such as GovMint.com.

What Should I Look for When Collecting U.S. Pennies?

Before you start, ensure you understand what you should look for as you build your penny collection. This step will help you avoid buying low-quality or even fake U.S. pennies and determine the value of a coin.

Look at the coin’s anatomy, both front and back, to see if all details exist and to determine how worn it is. Examine the finish. Does it look shiny and new or worn with use? Keep in mind that the finish, whether dull or shiny, can affect the coin’s value. Additionally, check for mint marks and errors, as these are other factors that will identify the type of coin you’re purchasing and determine its potential worth.

Front and back view of a copper Lincoln penny

3 Ways to Collect U.S. Pennies

Now that you have a general understanding of what to look for, here are three common ways to collect and build your U.S. pennies collection:

#1. By Year

Many new and experienced individuals build their collections based on the year the coins were minted. As an example, if you are interested in collecting Lincoln Wheat Pennies, you could try to find one penny for each year it was produced (1909-1958).

#2. By Design

Some individuals prefer to collect one-cent coins solely by design. Many individuals are impressed by the artistic beauty and the style of specific coins as they capture the culture and history unique to their time. This process can also include mint errors or flaws.

#3. By Mint Branch

Building a collection by the mint branch where their coins were minted is another common strategy coin enthusiasts use. The easiest method to determine where your U.S. pennies were produced is by locating their mint mark or small singular letter. If you can’t find one, this typically means your coin was struck at the Philadelphia or San Francisco mint, although exceptions exist For example, the 1922 Lincoln penny was printed without a “D” (Denver) mint mark due to a printing error.

How Do I Know If My Penny Is Worth Money?

If you’ve already built a collection of U.S. pennies, you can sometimes evaluate their worth by determining the year your coins were made, their design, type (small or large cent), mint marks, and grade or quality. However, the safest option is to visit or send your pennies to a trusted dealer for proper evaluation and authentication.

Where to Buy Collectable U.S. Pennies

We’ve already mentioned that you can buy U.S. pennies from a trusted dealer locally or online. If you want to be sure you’re buying from the safest source, go to GovMint.com. GovMint.com is the perfect place! Why? For the last 38 years, we’ve been a reputable seller (accredited business with a BBB rating of A+) of U.S. cent coins and other collectibles. Visit our site today to find additional guides and the best deals for building your U.S. penny collection!

For further reading, explore our additional coin collecting guides!

Guide To Collecting Wheat Pennies

Guide To Collecting Steel Pennies

Guide To Collecting Quarters

Guide To Collecting Half Dollars

Guide To Collecting Silver Dollars

Guide To Collecting Gold Eagles

Guide To Collecting Gold Coins

Sources:

https://www.history.com/news/10-things-you-didnt-know-about-the-penny

https://www.govmint.com/coin-authority/post/a-brief-history-of-the-american-cent

https://www.usmint.gov/coins/coin-medal-programs/circulating-coins/penny

https://www.usmint.gov/about/mint-tours-facilities/san-francisco

https://www.usmint.gov/about/mint-tours-facilities/west-point

https://www.usmint.gov/learn/production-process/coin-production#:~:text=The%20U.S.,variety%20of%20machines%20and%20processes.

https://www.thesprucecrafts.com/worth-of-1943-penny-768863

https://flyingeaglecent.com/

https://en.wikipedia.org/wiki/Indian_Head_cent

https://lincolncents.net/lincoln-cent-specifications/

https://www.thesprucecrafts.com/lincoln-wheat-penny-values-3863395

https://www.thesprucecrafts.com/lincoln-wheat-penny-768219

https://www.investopedia.com/articles/economics/10/history-of-us-coinage.asp

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