You've probably got a jar. Maybe it’s a dusty Prego sauce jar or a sophisticated ceramic pig sitting on your dresser, slowly filling up with copper-colored discs that most people treat like trash. But here is the thing: some of those pennies are actually worth a lot more than one cent, and knowing where to sell pennies is the difference between getting a $20 bill for your efforts or a $2,000 check. Honestly, most people just dump them into a Coinstar machine at the grocery store. That’s a mistake. Coinstar takes an 11.9% cut in many locations. You’re literally paying money to give away your money.
Let's get real for a second. If you have a 1943 copper penny, you aren't looking for a Coinstar; you're looking for an auction house. But if you just have $40 in standard zinc-coated pennies from the last decade, your local bank is your best friend. It’s all about the "why" behind the sale. Are you offloading bulk weight, or are you selling a piece of history?
The Local Strategy: Where to Sell Pennies for Face Value
If you just want to turn that heavy jar into spendable cash, your options are surprisingly limited. Banks used to be the easy answer, but they’ve gotten picky. Some big names like Chase or Wells Fargo might require you to be an account holder before they'll even look at your coins. Others will give you the "coin sleeves" for free but won't accept the coins unless you've already rolled them yourself. It's annoying. It’s tedious. But it’s the only way to get 100% of your money back without a fee.
Credit Unions are often way more chill about this. Many local credit unions still have those self-service machines in the lobby that are free for members. If you aren't a member, they might charge a small fee, but it’s usually way lower than the 10-12% you'll see at a kiosk in a Kroger or Walmart.
Another weirdly effective trick? Use them at self-checkout. If you’re at a Home Depot or a grocery store late at night when there’s no line, you can feed those pennies into the machine one by one. It’s slow. It’s slightly embarrassing if someone is waiting behind you. But the machine has to take them. It’s legal tender.
Avoiding the Coinstar Trap
Look, I get the appeal of the big green machine. It’s fast. You dump the jar, it makes a cool rattling noise, and out pops a voucher. But if you have $100 in pennies, you’re handing that machine $12 for nothing. If you absolutely must use one, choose the "eGift Card" option. Usually, if you pick a gift card for Amazon or Starbucks, they waive the fee entirely. You get the full value. You just have to be okay with spending it at a specific retailer.
Selling Rare Pennies: When One Cent is Worth Thousands
This is where things get interesting. We aren't talking about pocket change anymore. We're talking about numismatics. If you think you have something special—maybe a 1909-S VDB Lincoln Cent or a 1955 doubled die—you do not go to the bank. You go to a specialist.
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Local Coin Shops (LCS)
Your first stop should be a local coin dealer. These guys are a mixed bag. Some are incredibly helpful mentors who will tell you exactly why your penny is just a regular penny, while others might try to lowball you if they think you don't know what you have.
When you walk into a shop, don't just ask "what’s this worth?" Instead, show them you've done a bit of homework. Mention the "mint mark" or the "grade." A reputable dealer, like those certified by the Professional Numismatists Guild (PNG), will be transparent. If they offer you 50% of the Greysheet value (the industry standard price guide), they’re probably trying to flip it fast. You want to aim for 70-80% of retail value for a quick cash sale.
Online Marketplaces: eBay and Beyond
eBay is the largest marketplace for where to sell pennies that have any sort of collector value. It’s a double-edged sword. You get access to millions of buyers, but you also have to deal with shipping, fees, and the risk of someone claiming the package never arrived.
- The "Sold" Filter is King: Don't look at what people are asking for. People ask for $10,000 for a common 1990 penny all the time. It doesn't mean they get it. Filter by "Sold Items" to see what people actually paid.
- Photos Matter: Use a macro lens. If the buyer can't see the "L" in Liberty or the detail in Lincoln’s hair, they aren't going to bid high.
- Great Collections: If your coin is worth more than $500, look at GreatCollections. It’s an online auction house that specializes in certified coins. They handle the imaging and the logistics, and their fees are often better for high-value items than eBay.
The "Wheat Penny" Dilemma
Wheat pennies (minted between 1909 and 1958) are the most common "collectible" pennies people find. Most of them are worth about 2 to 5 cents. Not a fortune. But if you have a thousand of them, that's $50.
Where do you sell these? Most coin shops won't buy just ten of them. They want them in bulk. You can sell "rolls" of wheat pennies on platforms like Etsy or even Facebook Marketplace. People who do "unsearched roll hunting" love buying these because they hope to find a hidden gem that the previous owner missed. It’s basically selling hope.
Heritage Auctions for the Big Fish
If you genuinely stumble upon a rarity—like a 1943 bronze cent or a high-grade 1922 "No D" penny—you need a powerhouse. Heritage Auctions or Stack’s Bowers are the big leagues. These are the places where coins sell for five, six, or even seven figures. They charge a commission, but they ensure the right billionaires are in the room (or on the phone) to bid your coin up to its true potential.
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Knowing Your Metal: The Copper Bullion Route
Before 1982, pennies were made of 95% copper. Since then, they’ve been 97.5% zinc with a thin copper plating. Because the price of copper fluctuates, the metal inside a pre-1982 penny is actually worth about 2 to 3 cents.
Here is the catch: it is currently illegal to melt down US pennies for their metal content. The law was put in place to prevent people from destroying the currency supply for profit. So, while you can sell these pennies to other collectors who are "hoarding" copper, you can't just take a bag of them to a scrap metal yard. They won't take them.
However, many people on eBay sell "copper penny lots" by the pound. It’s a way to speculate on the future value of copper or wait for the day the melting ban is eventually lifted. If you have bags of 1970s pennies, selling them as "95% copper bullion" is a legitimate way to get more than face value.
Common Myths About Selling Pennies
People get weird ideas about coins. No, a 1943 steel penny isn't worth a million dollars; most are worth about 20 cents because they made billions of them. No, "cleaning" your penny will not make it worth more. In fact, cleaning a rare coin with polish or vinegar will instantly strip away 50% to 90% of its collector value. Collectors want "original skin"—the natural patina that comes with age.
Also, watch out for "reprocessed" steel pennies. These are 1943 pennies that have been stripped and replated to look shiny and new. They look fake because they are, essentially, altered. Serious collectors avoid them.
Actionable Steps to Liquidate Your Collection
If you're sitting on a pile of copper and don't know what to do next, follow this sequence. It’s the most efficient way to maximize your return without wasting months of your life.
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Step 1: Sort by Year. Separate everything into three piles: 1958 and earlier (Wheat pennies), 1959–1982 (Copper memorials), and 1983–Present (Zinc).
Step 2: Inspect the 1982s. 1982 was a transition year. Some are copper, some are zinc. You’ll need a small digital scale. A copper penny weighs $3.11$ grams. A zinc penny weighs $2.5$ grams. If you find a 1982-D "Small Date" that weighs $3.11$ grams, you just hit a jackpot worth thousands. It's the "holy grail" of modern pocket change.
Step 3: Check for Errors. Look for things that look "wrong." Doubled lettering, coins that are off-center, or pennies that look like they were struck on the wrong metal. These are "errors," and they are highly liquid. You can sell these almost instantly on specialized Facebook groups like "Coin Error Help" or to dedicated error dealers.
Step 4: Choose Your Venue. - For bulk zinc: Go to your bank or a fee-free credit union machine.
- For bulk copper: Sell by the pound on eBay or local classifieds.
- For common Wheat pennies: Sell in rolls of 50 on eBay or Etsy.
- For high-value rarities: Get them "slabbed" (certified) by PCGS or NGC, then send them to an auction house.
Step 5: Document Everything. If you are selling high-value coins online, take video of yourself packing the coin at the post office. Mail fraud is real, and pennies are easy to swap out. Protect your investment.
Investing time into researching where to sell pennies is only worth it if you actually have the volume or the rarity to back it up. If you have ten bucks in change, just go to the bank and buy yourself a sandwich. But if you have your grandfather's old collection, take it slow. The coin market is built on patience. Those who rush into a "cash for gold" shop or a pawn shop are the ones who walk away with pennies on the dollar—literally.
Knowledge is the only thing that turns a one-cent coin into a windfall. Start with the scale, move to the magnifying glass, and always check the "Sold" listings before you agree to a price.