Are you one of those who save all of your change for a special event like a vacation? My mom does that, and she hoards $300 to $500 in change every year. She cashes it once a year and has enough money to take a short vacation a few hours from our house. If you’ve been saving your change for a while, you may wonder, how much money is 80,000 pennies?
How Much Money Is 80,000 Pennies?
At face value, this is a simple math problem. There are 100 pennies in every dollar. Divide 80,000 by 100, and you come up with 800. Therefore, 80,000 pennies is $800.
When 80,000 Pennies Could Be Worth More
However, your 80,000 pennies could be worth more if you know what to look for. How? To collectors, certain pennies are priceless.
Pennies Worth a Bit More Than Their Value
Wheat Pennies
Wheat pennies were made between 1909 and 1956 and are worth about five cents currently.
Indian Head Pennies
Indian Head pennies are worth roughly $10 per penny. These coins were made between 1859 to 1879.
Remember, the better the condition of the penny, the more money you’ll get for it.
Pennies Worth Much More Than Their Value
According to CNBC, some rare pennies are worth much more than their value. One of those is the 1943 bronze Lincoln penny. There are less than two dozen of them currently available, and they sell for anywhere between $200,000 and $1.7 million! If you had one of those pennies in your pile of 80,000 pennies, your pile would be worth much more than $800—if you knew what to look for!
Other Fun Penny Facts
The U.S. Mint has many fun facts about the humble penny.
- The penny was originally almost the size of a half dollar! Fifty years later, the penny finally appeared in a smaller size, helping citizens avoid confusion with the half dollar.
- Lincoln was the first president to appear on a coin—the penny—in 1909.
- Some pennies appear white. These are the Flying Eagle penny, produced from 1856 to 1858, and the Indian Head penny, made from 1859-1864.
- The penny was the first coin to have “In God We Trust” written on it.
The Penny Will No Longer Be Produced
For years there were rumors that the government would discontinue the penny. Now, those rumors are true. Beginning in 2023, the penny will no longer be produced. However, you’ll still be able to use the pennies in circulation.
This is not the first time that the government has discontinued a coin. According to the American Numismatic Association, the half penny was discontinued in 1857, and now 175 years later, the penny will follow suit.
Final Thoughts
If you’re wondering how much money is 80,000 pennies, the answer is $800. But as you can see, you may have more money than that if you have one of the more valuable pennies in circulation.
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Image and article originally from www.savingadvice.com. Read the original article here.