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California family finds 1 million copper
pennies in old home

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Posted By: Moritz55, 6/11/2023 7:50:57 AM

Find a penny, pick it up. Find a million more, and what are you supposed to do with them all? That is the coinundrum facing John Reyes, a realtor from southern California. While helping his wife clean out her father's Los Angeles home, the family found more than 1 million copper pennies stowed away in a cramped crawlspace. The pennies were stashed in dozens of bank bags and are worth anywhere from $10,000 at face value to potentially much more, according to KTLA News.

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Reply 1 - Posted by: Rather Read 6/11/2023 8:24:02 AM (No. 1489389)
Interesting article. The pennies are very heavy and it would take a very long time to go through them. Transporting them would be difficult too.
7 people like this.

Reply 2 - Posted by: homefry 6/11/2023 8:39:29 AM (No. 1489399)
They're worth more than face value for scrap. With that many though, there are bound to be many that are worth even more for collector value however, good luck digging thru them!
16 people like this.

Reply 3 - Posted by: Hazymac 6/11/2023 9:10:27 AM (No. 1489435)
A numismatist would have fun going through that many cents. There are a few modern varieties that are very rare and quite valuable, notably some of the doubled dies such as the 1969-S, which has sold for over $100,000 in MS-65 Red (gem uncirculated). Others to look for are the 1992 and 1992-D Close AM cents. Since 1993 the AM in America on the reverse (tails) side of the coin are close together. Prior to then, the AM letters were noticeably farther apart. But in late 1992 at both the Philadelphia and Denver mints a tiny number of cents were minted using the 1993 reverse with the close AM. You would not believe what a few of these cents have sold for ... over $20,000! Undoubtedly, someone has one of these in a jar somewhere, and is none the wiser. Some things require the eagle eye to find.
11 people like this.

Reply 4 - Posted by: Hazymac 6/11/2023 9:14:51 AM (No. 1489439)
Video of 1992 Close AM cent: https://www.youtube.com/watch?v=CCQfqluy_Tc
2 people like this.

Reply 5 - Posted by: MickTurn 6/11/2023 9:20:17 AM (No. 1489444)
It is highly likely there are very valuable individual pennies in this hoard, Look for them!
7 people like this.

Reply 6 - Posted by: Corndoggies 6/11/2023 9:25:47 AM (No. 1489450)
I think there’s an app that tells you the value of a coin. Scan it and ta da!
4 people like this.

Reply 7 - Posted by: Muguy 6/11/2023 10:04:28 AM (No. 1489483)
Copper pennies have not been minted since 1982-- since then they are made from aluminum because the cost of copper exceeded 1 cent. If they are in bank bags, then they are likely uncirculated which makes their potential value even more because of the mint state. If they are collectible, they will be worth much more depending on the year and if there are some with mint errors to make them even more scarce.
4 people like this.

Reply 8 - Posted by: Hazymac 6/11/2023 10:11:47 AM (No. 1489487)
Since 1982 Lincoln cents have been copper-coated zinc. Only one aluminum cent survives from an experimental run in 1974. Aluminum cents have never been released into circulation in the United States.
2 people like this.

Reply 9 - Posted by: FLCracker 6/11/2023 10:21:39 AM (No. 1489500)
Funny how little things just add up.
7 people like this.

Reply 10 - Posted by: Birddog 6/11/2023 10:48:43 AM (No. 1489541)
I remember some stories about armored car robberies, or vault robberies where the perps got away, but only with pennies...could it be....
4 people like this.

Reply 11 - Posted by: DVC 6/11/2023 10:49:49 AM (No. 1489543)
Worth significantly more as copper metal now than as pennies unless they are of numismatic value to collectors.
3 people like this.

Reply 12 - Posted by: checkmatekingtwo 6/11/2023 11:12:28 AM (No. 1489570)
Not worth anyone's time and effort to go through them. No collector would have "fun", going through 1 million pennies. That's hard work. If you spend a mere 15 seconds per coin (that means examining front & back) giving a full 40-hour work week to the effort (and never taking any breaks), that's almost 2 years to go through the horde, with no guarantee that there will be any valuable coins. So, you spend $25,000 to buy the horde and then a large sum to transport, plus storage fees (they are not going to fit in your garage). Probably $35,000 out of pocket before you even begin on, literally, a one-in-a-million chance that you find one penny that would even cover your upfront cost, let alone the "loss of opportunity cost" of your lost time. You would be better off just working for wages for two years.
2 people like this.

Reply 13 - Posted by: Hermit_Crab 6/11/2023 3:36:01 PM (No. 1489765)
If they are all actually pre-1982 solid copper pennies, and there actually are a million of them the melt value alone (disregarding any numismatic value) is over $25000.00
2 people like this.

Reply 14 - Posted by: homefry 6/12/2023 8:21:43 AM (No. 1490126)
Just to be contrary.....There are NO U.S. pennies. Pennies are an English I think, coin. We have 1 cent coins. However, I have always called them pennies same as everyone else.
1 person likes this.

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