Loose change lying around? Some of those coins could be worth a small fortune

It might be time for a personal treasure hunt! Check your car’s cupholder, your piggy bank, your junk drawer, or anywhere you store your change. Some of those coins might be worth more than you think.

Collectors are searching for rare pennies and silver coins that could be worth thousands of dollars, including a 1943 Lincoln “Wheat” penny. The surge in interest comes as experts report a sharp increase in people looking to sell their loose change and vintage currency.

The value of these coins often depends on rare minting mistakes or silver content. While some owners use mobile apps to identify their change quickly, others are turning to professional numismatists and local buyers to determine the exact worth of their collections.

Certain pennies are particularly valuable to collectors due to their unique characteristics. The 1943 Lincoln “Wheat” penny is among the most sought-after items in the field. Other pennies dated 1983 or 1999 can be worth significantly more than their face value due to rare minting errors.

Tim Heroux is a numismatist, a collector with expert knowledge in the field of currency. He has observed a significant trend in online sales for these specific items. “My eBay store has been on fire with the Lincoln pennies,” Heroux said. “People have been buying them up like crazy.”

Beyond pennies, older silver coins are also in high demand at local shops. Randy Zapata is a manager at Gold Rush on McKnight Road. He has seen a sharp increase in customers wanting to sell silver and coins in addition to gold. Older United States currency holds value based on its metal composition.

“Pre-1964, quarters, dollars, half dollars and dimes, those have 90% silver value in them,” Zapata said. He noted that he often reviews large collections personally. “If you bring me a sack of quarters like Santa Claus, I will go through them individually,” Zapata said.

Technology has made it easier for the average person to check their pocket change for hidden value. Coin Snap is currently the most downloaded coin value app, allowing users to take a photo of a coin to receive a value estimate in seconds. Other popular apps include Coin Know and Coin o Scope.

Experts emphasize that the condition of a coin is more important than its age. A coin in poor shape might only be worth a few dollars, while the same coin in great condition could be worth thousands. Collectors are advised never to clean their coins, as it can damage the surface and decrease the value.

Proper handling is also required to preserve a coin’s worth. Heroux explained that oils from skin can cause damage over time. “You always hold up by the edge, always,” Heroux said. “Because even if you put your finger on it or your thumb on it and you might leave a mark now, later on with the air and the carbon in the air, it will leave a mark.”

Storage and security are final considerations for collectors. Coins should be kept in a cool, dry place rather than a damp basement or a hot attic. Additionally, sellers are warned to be cautious of online fraud when trading rare items. “Anytime there’s money involved, there’s corruption, so you have to be very careful,” Heroux said.

To avoid potential scams, experts recommend doing business only with trusted sources. These organizations can be identified through the American Numismatic Association.

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