Copper Pennies May Be the New Collectible Gold

(Mix 93-1) Growing up, I always heard the phrase, "find a penny, pick it up, and all day long, you'll have good luck.:

Then there was, see a penny heads up, you'll have good luck. See a penny tails up, flip it over for the next to have good luck.

Those sayings are going to be a thing of the past, because the 114 billion pennies in circulation in the U.S. are coming to an end.

Once the latest supply of penny blanks has been depleted, the U.S. Treasury Department says the production of the one-cent coin will come to an end.

The End of the Penny Is Official

This, of course, comes after President Trump ordered the Treasury Department to cease creation of the coin in February 2025.

It is a cost-saving move by the government. It will save the government $56 million initially because it costs about four cents to make the one-cent coin.

READ MORE --> Man Cashes In More Than 81,000 Pennies

What Happens to Prices and Change?

It's going to be quite the transition within the next few years because some retailers, restaurants, grocery stores, and convenience stores may stop stocking pennies in their till drawers, and prices will be rounded up (or down in some cases, but probably very few) to the nearest nickel.

So, what do you do with all those pennies you have stashed away unrolled in a bucket at the bottom of your closet or those that are thrown into the console of your truck?

Should You Keep Your Pennies?

Some coin collectors say that you should hang on to all of your loose pennies because they could fetch you a good price

William Welsh, owner of Preacher Bill's Coins in Midland, tells NBCDFW that you should keep every penny that you have because interest in the penny will only increase once they're out of production and circulation in the coming years. Welsh says,

Already, just in the last couple of years, they've been over two cents each in value. So you immediately double, but copper will continue to go up in value. And then now the rarities of the pennies, that's going to cause them to be more valuable."

Get our free mobile app

Pennies That Could Be Worth More

So don't go getting rid of all of your pennies, you could be holding onto a penny that could fetch you a nickel, twenty dollars, three hundred dollars, or more in the future.