In Case You Missed It: Family Finds One Million Pennies in Los Angeles Home (2024)

FAQs

In Case You Missed It: Family Finds One Million Pennies in Los Angeles Home? ›

A family discovered more than one million pennies while cleaning out their late father's home in Los Angeles, and the valuation could be about one million dollars. Now the standard value for one million pennies is $10,000, but these copper pennies were made before World War ll.

One million pennies equals 10,000, or ten thousand, dollars.

A million post-1982 pennies, at 2.5 grams each, would weigh approximately 5,512 pounds. A million pre-1982 pennies, at 3.11 grams each would weigh approximately 6,850 pounds.

While ten pounds of copper pennies would carry a face value of around $4.50, the copper contained in these coins is worth quite a bit more. Figuring out the base metal value of your copper penny collection is an important step in figuring out: how much is 10 lbs of copper pennies worth?

With few exceptions, copper coins in the U.S. mean one-cent pennies — usually those featuring Abraham Lincoln. The most valuable Lincoln penny is worth $2 million on the collectibles market, and many more are worth five or six figures. The value of copper coins, as in all coins, is based on scarcity and condition.

Some copper pennies are going for as much as $2 apiece. Buying pennies is more affordable than buying gold, and they can be a little easier to store. At least you don't have to worry as much about theft. Some businesses will store large bags of copper pennies on your behalf in secure locations.

One hundred times one million equals one hundred million, or 100,000,000. So, there are 100,000,000 pennies in a million dollars.

Answer and Explanation:

As each penny is $0.01, we need 100 pennies to equal a single dollar. This means we can find our answer by dividing 5 million by 100 to convert 5 million pennies to dollars. This means that we have $50,000 U.S. dollars when we have 5 million U.S. pennies.

The U.S. Mint has no plans to discontinue the penny, and such a move would require congressional approval. However, the “Penny Debate” continues in the United States, with pro- and anti-penny advocates both making some pretty solid points in their arguments.

Many of us grow up thinking of $1 million as an astronomical amount of money. It's not until you reach adulthood that you realize that not only is $1 million in savings possible for you, but it may also be necessary.

What year of penny is 100% copper? ›

For the year 1943, pennies became zinc-coated steel because copper was essential to the war effort during World War II. But the Mint also struck a limited number of copper pennies. In 1962 tin was eliminated, and in 1982 the penny became primarily zinc with only 2.5% copper.

Of the three the 1982 no mint mark is slightly scarcer than the other two. But the 1982 D 3.11 gm SMALL DATE is extremely rare. So far only two specimens have been found, and have sold at auction for close to $35,000.

Lincoln cents were last issued in bronze in 1981. In 1982, the composition of the penny changed from 95% copper with 5% tin and zinc to copper-plated zinc because of the rising price of copper.

Pennies and nickels contain copper, zinc, and other metals that are of great monetary value. It is because of this that melting down these metals for the sole intention of selling to offshore or local metal scraping industries is illegal.

A: All U.S. pennies, regardless of their year of minting, are considered legal tender and can be used to pay for goods and services. However, pre-1982 pennies contain a higher copper content and may be worth more than their face value to collectors.

For a Lincoln cent, however, the 1943 copper penny is extremely valuable, with circulated examples selling at auction in the past two years bringing between $240,000 and $336,000. The unique 1943-D copper penny is held in a longterm collection and carries an estimated value of over one million dollars.

Now the standard value for one million pennies is $10,000, but these copper pennies were made before World War ll.

1943-D Lincoln Bronze Wheat Penny — $2.3 million

Brenner, this is one of the highest-value pennies in circulation today. During World War II, pennies were made of steel to save copper for the war effort. However, a few were mistakenly made of bronze, and these are extremely rare and valuable.

Answer and Explanation: If one could count one penny each second, it would take approximately 11.574 days (or 11 days and about 14 hours) to count one million pennies.