Should New Yorkers Hang On To Pennies Now That the US Mint Will Stop Making Them?

United States Government to STOP MAKING CENTS! To be clear, the United States Mint announced that they will phase out the manufacturing of pennies by 2026. What does this mean for New Yorkers? Will your pennies suddenly become more valuable?

Recently we reported about an opportunity for residents around the Capital Region to take their treasures to Mayfair Jewelers in Latham or Scotia to see how valuable your valuables really are. That got me wondering how valuable our pennies will now become if they aren't making them any longer.

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The United States Mint placed its final order of penny blanks, once that batch of blanks runs out they will no longer be making pennies. According to Fortune, this decision will help to save more than $55 million in reduced material costs annually. What is the value of the pennies you currently have?

There are currently 114 billion pennies in circulation in the United States so the hope of your penny collection becoming worth a lot of money might take a very long time. Here is one thing for New York collectors to think about however.

"Find a penny heads up, all day long you'll have good luck" but is that all you have? No, in some cases pennies can be worth thousands of dollars each. Spruce Crafts reports that one penny in particular has a $40,000 value.

Your best chance at increased value of the pennies in your current collection could come from this 2025 "last issue" coin but they are difficult to find. Once news broke that no more would be made, collectors started buying them up.