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When the Funds Are Low And The Debt Is High

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					            When the Funds Are Low And The Debt Is High

If you need extra cash to make it to your next paycheck, selling your coins may be
helpful. Coins don't need to be solid gold or silver to have some value over face, and even
common circulated coins can sell for several times their face value.

My grandmother collected pennies for years, and when she got older and lost interest in
the pennies, she passed them on to me.

Most were Lincoln head pennies, but they were dated before 1959 (the obverse of the
penny was changed from the wheat design to the Lincoln Memorial design in 1959, and
changed again in 2008 to a simple shield with the words 'one cent' emblazoned across it-
not to mention the change in 2009 to celebrate Abraham Lincoln's 200th birthday).

There were also the WWII era steel pennies (during the war years, copper was much too
valuable in the war effort to be used to make pennies, therefore the pennies were made of
steel.

Among all the Lincoln head pennies were a few Indian head pennies. These were minted
from 1859 to 1909. Depending on condition and rarity, values range from around $1.50
to $19000.00 (unfortunately, I didn't have any of the Indian head pennies that were rare
enough to command the later price).

The most unusual coin in the collection was an 1861 Large Cent. When I'd originally
tried to sell this coin, I got a disappointing offer of $4.00. Even though the coin was pre-
Civil war it was not rare nor was it in excellent condition. I held on to the coin for several
years, and ended up selling it last year for $10.00 (which is better than nothing, but
certainly not the bonanza I had hoped for when I found it).

The wheat design pennies were worth one to five cents each when sold to coin dealers or
collectors.

The WWII era steel pennies were worth forty-five cents each. If they are in great
condition (mine were not) they can be worth up to $12.00. If any rust is present on the
steel pennies they have no value at all.

The Indian head pennies in my grandmother's collection were not in very good condition.
The major portion of the collection was just all jumbled together, and this causes
deterioration of the coins themselves. To retain value, a coin needs to be placed in a coin
sleeve or coin board. I received anywhere from fifty cents to one dollar each for the
Indian head pennies.

				
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