GRAND LEDGE, Mich. — Coin collector Dave Ruppel has turned his passion for collecting into a livelihood, specializing in rare, silver and gold coins. Now, with the U.S. Mint planning to phase out penny production early next year, collectors are wondering what this means for the value of their one-cent pieces.
- Coin collector Dave Ruppel turned his childhood passion into a career, now specializing in rare gold and silver coins.
- With the U.S. Mint planning to stop penny production, Ruppel advises collectors to sort older pennies (pre-1982), as those made before 1958 or with high copper content may hold value.
- While newer zinc pennies generally lack worth, Ruppel emphasizes that knowledge and passion are key to successful coin collecting.
HEAR WHAT A LANSING COIN COLLECTOR SAYS, WHAT'S NEXT FOR COIN COLLECTORS
"Whenever gold and silver are high priced, that helps the coin dealers make profits," Ruppel said.
The penny, which costs more than 3 cents to produce, will soon stop being manufactured, potentially changing the collecting landscape.
"There's millions and billions of them out there," Ruppel said.
For those wondering what to do with their penny collections, Ruppel recommends sorting them by era.
"I think the first thing I would do is sort the ones that are 1981 and back, and thenthe next sorting point is the wheat pennies which is 1958 and back," Ruppel said.
According to Ruppel, the older "wheat" coins (pre-1958) can sell for 5 cents each, while high copper pennies from 1958 to 1981 can also command premium prices.
However, collectors shouldn't expect much from more recent zinc pennies.
"They're not going to be rare. There's going to be errors, the double stamped, the misprinting, which will be worth a premiu,m but to make money in that market, you need to know your stuff," Ruppel said.
Despite this, Ruppel encourages people to pursue collecting as a hobby, regardless of what they choose to collect.
"It's good to find something that you're passionate about," Ruppel said.
What began as a childhood interest in stamps for Ruppel eventually evolved into a career in numismatics.
"At a young age, I knew I liked stamps," Ruppel said. "After collecting stamps and doing the stamps thing, I got into coins after that."
This story was reported by a journalist and has been converted to this platform with the assistance of AI. Our editorial team verifies all reporting on all platforms for fairness and accuracy.
Want to see more local news? Visit the FOX47News Website.
Stay in touch with us anytime, anywhere.
Sign up for newsletters emailed to your inbox.
Select from these options: Neighborhood News, Breaking News, Severe Weather, School Closings, Daily Headlines, and Daily Forecasts.
