Lincoln Pennies (1909-1958) – JM Bullion
Wheat Pennies (1909 to 1956) Values – Cointrackers
Find Out How Much Is Your Lincoln Wheat Penny Worth? – The Spruce
If you sort your coins, you can collect pennies in many forms:
If the government behind the Fiat currency becomes insolvent, or acquires extensive debt, their currency may be devalued (relative to other Fiat currencies), their ability to borrow money will be affected (lenders will demand higher interest rates because of the risk), and prices will climb as the currency loses value. At present, Venezuela, Argentina, Zimbabwe, and other countries are suffering due to the inflation they are experiencing. Venezuela is even considering making their own cryptocurrency, the “Petro”, as a solution to their problems.
Some related websites:
What would you do if your money became worthless? – Prosperous Way Down website
A worthless currency – The Economist (Article on Zimbabwe)
11 Times Currency Was Rendered Almost Worthless (and Why) – Ranker
What Happens When Your Money Is Suddenly Worthless? – Cracked (article on India)
Many people invest in Gold and Silver as a “Hedge” against devaluation. This can be done with collectable coins and jewelry, or bullion. Gold and Silver bullion – on eBay.
Bullion coins have, at their base, the smelt value of their base metal (e.g. Gold, silver, etc.). Even though we consider Bullion to be Silver or Gold, Copper, Platinum, and Palladium are all used in coins. You also have to consider the purity of the product – 24 karat gold? .999 Silver? Alloys are often hard to spot, unless you use a test kit . (link to Amazon)
Smelt values for US coins can be found here: U.S. Silver Coin Melt Value Calculator – Coinflation
Bullion prices are based on weight (usually ounces or Troy ounces) and subject to are supply and demand, based on market forces.
Many coins are considered “Culls” or rejects because of circulation marks and wear. These can usually be bought at near melt value because they have diminished value as a collectible coin.
US Money, Even Bills, were backed by gold (on the gold Standard), until 1933:
Good luck with your bullion – know your values!
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Several caveats; Don’t clean the coins, Keep them together in some boxes and handle them with white gloves or a sweat sock to keep finger oils off the coins. Take pictures of them to send to a remote appraiser and to establish that you had them (proof of ownership). If you are going to keep them, organize them into coin flips and tubes, and make notations on the contents, condition, and dates. Consider getting a safe, to keep them together and secure. (coins can weigh a lot, too – keep that in mind).
Selling to a reputable dealer, collector, (or pawn shop) is the fasted route to liquidating your collection for cash. Keep in mind that these buyers are looking for values below market, to reduce their risk and make a profit on the eventual sale; you may be offered between 10 and 70% of the retail value of your coins.
If you have the time and ambition, you can use the internet for valuing your coins, and sell them on your own. Craigslist, EBay, and some of the popular coin sites (forums and for sale sections) are your best options.
You can use a coating for your hands, like Pro-Tek Invisible Glove Lotion.