What to Do with a Large Amount of Pennies

The humble penny, once made of copper, now consists of 97.5% zinc and just 2.5% copper plating. Despite their low value, pennies can be a valuable small change for savings, investing, or charitable giving. Here are some practical and creative suggestions for what to do with a large amount of pennies:

Invest in Precious Metals

Given the declining value of pennies, saving copper pennies specifically from before 1982 might not be a bad idea. Copper is a precious metal, and coins made from it can be a cheap and safe investment. For those unfamiliar with such investments, it can be compared to investing in currencies like the Iraqi dinar, which might see future value changes.

Deposit Them in the Bank

One simple yet effective strategy is to roll up the pennies and deposit them in your bank. Banks often exchange pennies for dollars, making it a hassle-free way to turn small change into real currency. Be sure to check the bank's policy on small denominations, as some have fees for cashing in large amounts of pennies.

Give Them to Kids or Wishing Wells

Children often find pennies exciting, so giving them to kids can be a fun activity. Holiday wishing wells are another great option. During the pandemic, when many public attractions are limited, a few pennies thrown into a wishing well can bring a smile to someone's face. Just be sure the well is still operational and not closed due to health concerns.

Support Local Businesses as Tips

Consider using pennies as small tips for local businesses that could use the extra cash. This approach is especially useful if indoor dining restrictions are still in place. Even though handling pennies might be a bit of a hassle, the gesture of appreciation can mean a lot to the business owner. Alternatively, you could exchange the pennies for cash before tipping, making it easier for the business to use the money more efficiently.

Donate to Charity

Donating pennies to the homeless or community programs is a noble and practical act. Many local charities, non-profits, and food banks accept small contributions, and pennies add up. When it comes to community programs, be mindful of any specific needs or restrictions and approach them accordingly.

Turn Them into Art or Statues

For those with artistic inclinations, consider melting pennies to create patterns or sculptures. While technically legal, the process requires careful handling and soldering tools. A creative approach, like arranging pennies in an abstract or geometric pattern and pouring resin over them to form a solid piece, can be both fun and educational.

Recycle or Sell the Pennies

Selling pennies is another option, especially if you have a significant collection. Many recycling centers or businesses might be willing to purchase old coins or scrap metal. Keep in mind that the value of pennies in such scenarios is likely to be quite low, but every little bit helps.

While the penny as a currency has become less valuable, its potential for small but meaningful actions remains. Whether you choose to save, donate, or recycle your pennies, the small steps can lead to big impacts.